Property/Casualty Reinsurance Cedent Technology Strategies

Topics:
Insurance
Tags:
Business Operations,
Celent,
Corporate Insurance,
Insurance,
Reinsurance,
Strategy
Source:
Celent

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Overview: Insurance technology investments too often bypass reinsurance departments, leaving them technologically challenged, hurting financial results and even putting surplus at risk. Celent estimates that new strategies and solutions can help ceding insurers increase their recoveries by 2%-4%, or US$420-840 million industry-wide per year. Reinsurance is a very old part of the insurance industry. Many reinsurance practices were established in an different world where gentlemen at reinsurers and cedent companies dealt with each other in the utmost good faith; and transactions were conducted using the spoken word, paper, and handshakes.

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Format: HTML | Date: Feb 2004 | Pages: 2

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