EDITOR’S LETTER
Reaching the limits
“Amid all this turmoil, one part of the industry that is doing really well—some might say booming—is insurtech.”
With the full repercussions of Hurricane Ian still being counted and a cat capacity crunch that might leave some insurers without cover, the 1/1 renewal deadline this year seems to be coming round faster than ever.
During this year’s febrile conference season, the Intelligent Insurer team was out and about speaking to senior industry executives about how renewal talks were going. One issue that came up repeatedly was cat capacity, or the lack of it. As part of efforts to get ahead of the crunch, TigerRisk launched its own cat capacity SWAT team. You can read more on that and how others in the industry dealt with the issue in our conference season special report.
Another recurring theme that cut across all conference events this year was climate change, which of course is a key reason for the reduction in cat capacity as frequency and severity of cat events has increased. In our second conference season report, we look back at some of the biggest industry talking points on climate change, an issue described as “a monumental challenge” by Aon’s Greg Case and the “biggest threat to humanity” by Swiss Re’s Thierry Léger.
Amid all this turmoil, one part of the industry that is doing really well—some might say booming—is insurtech. But not all insurtechs are created equal, so to find out which of them are really making a difference, Intelligent Insurer held two panel debates on how insurtechs are leading the charge in geographies with untapped potential and where they are still disrupting traditional markets.
Strong partnerships seem to be part of the answer, according to Instanda’s Tim Hardcastle, who shares insights on choosing the right funding partner and how insurtechs should collaborate to bring the very best of technology to the industry.
This is also the issue where Intelligent Insurer can finally unveil its top 25 hot insurtech list. There will be names you know and some you won’t, but all with the potential to revolutionise aspects of the industry and leave a lasting transformation legacy. If that’s not enough inspiration for you, then check out our top 10 re/insurance technology visionaries. These are the industry leaders making their mark and plotting a strategic course for tech that others will follow.
With Christmas approaching, another deadline that seems to come round faster every year, the team at Intelligent Insurer wishes you and yours a happy and healthy festive season.
Claire Churchard is senior editor of the Newton Media insurance group
Image: shutterstock.com / BNMK 0819
