Christian Mumenthaler, Group Chief Executive Officer, Swiss Re
Profile: Christian Mumenthaler (swissre.com)
Andreas Berger, Chief Executive Officer Corporate Solutions
The COVID-19 pandemic has highlighted not only the importance of insurance itself but also the challenges our industry faces. Inefficiencies that undermine the customer experience as well as our profitability persist across the board – largely for the lack of a systematic way to gather and use data and a holistic end-to-end view of the value chain.
Swiss Re Institute
To assess and underwrite risks, the insurance industry relies on experience. However, historical data alone cannot build understanding of the future risk landscape, which is forever changing and presents new and previously unforeseen risks. Swiss Reʼs SONAR report, which has been published annually since 2013, provides a forward-looking perspective, to further promote and engage with such risk dialogue.
Swiss Re Institute
Insured losses from catastrophe events globally were USD 85 billion in 2018, the fourth highest on sigma records. More than half of the total was the accumulation of losses from smaller and mid-sized secondary natural catastrophes. The total was well below the peak loss years of 2017, 2011 and 2005, reflecting the absence of megaloss generating events. The combined insurance pay outs for natural catastrophe events in 2017 and 2018 were USD 219 billion, the highest ever for a consecutive two-year period.
Swiss Re Institute
The Geneva Association and the International Insurance Society (IIS) have announced the 2017 recipient of their collaborative insurance research program, the Shin Research Excellence Awards.