A.M. BestTV at Rendez-Vous: Expense Pressures and Technology Driving Distribution Evolution
Sep. 11, 2018
OLDWICK, N.J.--(BUSINESS WIRE)--Sep 11, 2018--In this A.M. BestTV episode from the 2018 Les Rendez-Vous de Septembre (Rendez-Vous) conference in Monte Carlo, Monaco, a panel of experts said with brokers now underwriting, underwriters distributing insurance and reinsurers writing direct business, the distribution model is evolving. Click on http://www.ambest.com/v.asp?v=rvs2918 to view the entire program.
“Reinsurers traditionally have brought capital support to the industry,” said Stephan Ruoff, chief executive officer, Tokio Millennium Re. “However, looking at reinsurers today, they have broaden their scope and gone far beyond the reinsurance protection capital provision. They have gone into portfolio management and in some cases, direct insurance distribution models.”
Greg Carter, managing director of analytics, A.M. Best, highlighted the role of the regulator in the market, and said he believes the increased burden and cost of regulating the industry are a constant challenge for the regulator.
“The industry can become strangled if the cost of providing and distributing a product in an acceptable regulated way becomes way too great and the consumer does not perceive the value,” Carter said. “That is always the challenge for the regulator: finding the balance between protection and encouraging a free market.”
Other people that appear in this episode:Keith Harrison, chief executive officer, United Kingdom and Europe, JLT Re; and Paul Merrey, insurance strategy partner, KPMG.
For full video coverage of the Rendez-Vous conference, including exclusive executive interviews, visit http://www.ambest.tv/rvs18.
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SOURCE: A.M. Best
Copyright Business Wire 2018.
PUB: 09/11/2018 02:31 PM/DISC: 09/11/2018 02:31 PM