A.M. BestTV: The Rendez-Vous Conference: Insurance Disruption Takes Many Forms; Fewer Aim for Core Risk

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FOR IMMEDIATE RELEASE

OLDWICK - SEPTEMBER 13, 2016 02:36 PM (EDT)
In this ^A.M.BestTV episode on location from Les Rendez-Vous de Septembre (Rendez-Vous) reinsurance conference in Monte Carlo, Monaco, insurance leaders say that while the industry is being disrupted by new capital providers, they hope to harness or head off other disruptors by remaking distribution and business processes or by finding new ways to share risk. Click on http://www.ambest.com/v.asp?v=rvs2916nc to view the entire program.

Disruption in the reinsurance industry is a key theme at this year’s conference.

“I don’t believe there is only one disruptor, I believe that we are going to see many small disruptors,” said Stephan Ruoff, chief executive officer, Tokio Millennium Re. “One will be on the technology side, as robotics moves into the market…..On the risk capital side, we see alternative capital moving more and more into the market.”

Stephen O’Hearn, global insurance leader, PwC, said he thinks that the direct carrier distribution channel will be the first to be disrupted. He sees that industry, “as the most vulnerable and the most in urgent need.”

Other people that appeared in this episode:

• Albert Benchimol, chief executive officer, Axis Capital Holdings;


• Brian Duperreault, chairman and CEO, Hamilton Insurance Group;


• Ashley Hunter, managing director, Touriga Risk Partners; and


• Adrian Guttridge, executive director, global insurance services, Xchanging.

^A.M.BestTV will be covering the entire 2016 Rendez-Vous. Visit http://www.ambest.tv/rvs16 for full coverage and exclusive interviews with key reinsurance executives. Interviews conducted thus far include: Matthew Mosher, executive vice president, A.M. Best, Kathleen Reardon, chief executive officer, Hamilton Re, John Berger, head of Third Point Re, Julian James, president, global markets, Allied World and others.

Recent episodes of ^A.M.BestTV include:

• The Rendez-Vous Conference: Reinsurers Say Relevancy is Key to Expanding the Ranks of Insureds and Risks: At Rendez-Vous, reinsurers said their challenge is to convince insurers and the public that their products and services are affordable, valued and effective in guarding against a growing range of global risks: http://www.ambest.com/v.asp?v=rvs1916nc.


• Global Reinsurers Focus on Innovation to Maintain Relevance: A.M. Best Vice President Robert DeRose and Assistant Vice President Greg Reisner address the state of the global reinsurance market: http://www.ambest.com/v.asp?v=globalre916.


• Aon’s Gray: Captive Sponsors Find Ways to Lower Cost of Risk: Nancy Gray, regional managing director, Americas, Aon Global Insurance Managers, said captive owners are resetting limits and deductibles while taking on new coverages, all with a goal of decreasing overall cost of risk: http://www.ambest.com/v.asp?v=gray816nc.


• London Market Insurers Could Face Rocky Road Ahead: Catherine Thomas, senior director of analytics, A.M. Best, said London-based insurers with a global focus face a host of developing challenges, including the likelihood that catastrophe activity will return to normal levels, increased competition in local markets and new risk facilities set up by global brokers: http://www.ambest.com/v.asp?v=londonmarket916.

^A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View ^A.M.BestTV episodes at http://www.ambest.tv.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source.