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Reinsurance in EMEA - Where does it need to modernise?

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The majority of insurers have come to rely on reinsurance as a tool to help grow their businesses, contribute to their overall capacity and protect their balance sheets against unforeseen events. For that reason, the administration of this process is essential to leverage the benefits of reinsurance and ensure confidence in the business’s solvency.

Yet the systems that drive the reinsurance workflows and enable consistent, high-quality outcomes are often proving themselves to be antiquated and in need of investment and modernisation.

Tim Spencer, Duck Creek Reinsurance Management powered by XL, London Markets, UK, and Ireland, looks at the regional challenges that face insurers looking to reinsure some of their risk and the areas which are ripe for modernisation.

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