I have spent much of my career in the reinsurance industry. Traditionally, custom applications have been implemented to improve process efficiency and enhance analytic capabilities. Changes in reinsurance capacity, competition, and coverages are driving the need accommodate placing new exposures (cyber risks) and providing cost-effective solutions to alternative capital markets solutions. The industry is accelerating the transition to a new operating model.
The availability of SaaS reinsurance solutions (Tremor, Supercede.com) are vital to rapidly delivering the needed capabilities. These products provide configurable product architectures, sophisticated pricing models, and integration to advanced risk management models. These tools will become the standard for reinsurers maintaining competitive advantage.