Reinsurance

A new reinsurance facility powered by transparent distributed ledger technology is diffusing the impact of adverse events.

Most insurers still use the equivalent of a shoebox to keep track of reinsurance contracts and claims.

With reinsurance becoming a greater priority for many firms, insurance-linked securities (ILS) could expand their global footprint.

Ceded reinsurance is often still managed manually. It must migrate to a software-as-a-service (SaaS) model and to the cloud.

Many insurance companies act as if a reinsurance broker is a fiduciary working for them. This approach provides for a direct conflict of interest that the company ceding responsibility is often totally unaware of.|

Insurance managers are not reinsurance recovery experts, and utilizing the services of independent reinsurance recovery experts should be thought of as no different than utilizing the services of legal or tax experts to maximize the financial position of the ceding company.|