A.M. BestTV: Mutual Insurers Take Aim at Global Resilience

OLDWICK, N.J.--(BUSINESS WIRE)-- In this A.M.BestTV episode, at the Meeting of Reinsurance Officials (MORO) 2016 in London, mutual insurers are striving to bring insurance coverage to more than five million new families in five years. This action is in response to a G7 initiative to bring new coverage to 400 million people. Click on http://www.ambest.com/v.asp?v=moro1616nc to view the entire program.

At this year’s MORO conference, 115 delegates from 55 organizations and more than 30 countries are discussing how to build resilience through innovation.

Shaun Tarbuck, chief executive officer of the International Cooperative and Mutual Insurance Federation (ICMIF), said an explosion in regulation means mutual insurers in some markets are responding to data demands from up to six different regulators, which increases the stress and overhead, particularly for midsize and smaller insurers. Meanwhile, the mutual sector accounts for an increasing share of global insurance premium.

Additionally, insurers and reinsurers say that better resilience will also come through new products and new ways of working closely with insured members.

“One area that the reinsurance industry has been good in achieving change is in inventing new products. This means making a wide range of products available to reinsurance buyers today, more than ever before,” said Robin Swindell, executive vice president, Willis Re. “Furthermore, we in the industry firmly believe that this will result in a more resilient long term relationship with the reinsurance market.”

Other people who appear in this episode include:

• David Grant, manager, International Underwriting Mutual Reinsurance Bureau; and
• Tim Lamm, vice president, Swiss Reinsurance Company.

Full-length interviews are available as well. Go to http://www.ambest.tv/moro16 to see all the interviews, which includes a discussion with John Haydon, executive vice president, Willis Re.

Recent episodes of A.M.BestTV include:

• Artificial Intelligence as an Insurance Disruptor? ‘You Can Count on It,’ Says Singularity's Jacobstein: Neil Jacobstein, artificial intelligence and robotics co-chair, Singularity University, predicts a wave of change as web-based insurance competitors use intelligent automated systems to address risk in new ways: http://www.ambest.com/v.asp?v=jacobstein516.
• Executives from Risk Management Solutions Say Cyber Model Focuses on Accumulation First: Two executives from Risk Management Solutions—Elizabeth Foughty, director, professional services, and Gates Maus, analyst, consulting—discuss the elements that underpin the modeling firm's approach to analyzing cyber risk: http://www.ambest.com/v.asp?v=cybermodel616.
• New Risks Reshape Global Markets: Speakers at a recent conference on country risk said digital perils, terrorism and mixed performances among emerging markets are recasting the risk and investment environments for global business: http://www.ambest.com/v.asp?v=countryrisk616.
• Health Insurers Maneuver Transition to Outcome-Based Medicine: Changes in the Medicare reimbursement model as part of health care reform is prompting health insurers to develop new models that target patient outcomes and quality of care. Dr. Manil Patel explains how Horizon Blue Cross developed its own approach, called Omnia: http://www.ambest.com/v.asp?v=outcome516.

A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2016 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160607006703/en/

A.M. Best
Lee McDonald, +1 908-439-2200, ext. 5561
Group Vice President, Publication and News Services
[email protected]

Source: A.M. Best

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