Russell Higginbotham, CEO: Swiss Re Reinsurance Solutions: Making society more resilient - using new data to close the protection gap (302)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 12 May 2024

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

Swiss Re Reinsurance Solutions was launched two years ago to make Swiss Re’s unique knowledge and tools available across the insurance value chain. Swiss Re’s strongest point of knowledge is property - around which we centre this podcast. Robin Merttens spoke to CEO of Reinsurance Solutions Russell Higginbotham on approaching climate-related risks in the insurance industry as well as managing the balance between data accuracy and inclusivity of insurance products for customers. Key talking points: The implication of climate change on property insurance If you are running an insurer now - what should you be focusing on? What should the whole ecosystem be doing with climate change? Planning the future Understanding ‘uninsurability’ Partnerships with Google X, the moonshot factory and acquiring Fathom If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us [email protected] Continuing Professional Development This InsTech Podcast Episode is accredited by the Chartered Insurance Institute (CII). By listening, you can claim up to 0.5 hours towards your CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Describe how better data can help tackle the insurance protection gap Explain how acquisitions can help a company gain better data and why partnerships are important in the industry Summarise why climate change is such an important risk and what insurers should focus on to tackle it best If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 302 page of the InsTech website or email [email protected] to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.

Transcript

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0:00.0	So really, when you think about climate change, it starts with knowledge around the dynamics.
0:04.9	And then it really then comes to the topic around planning.
0:08.6	Where do you build properties?
0:10.4	What are the building codes that you use for properties?
0:13.4	Are they appropriate for the environment that we're in?
0:15.7	What do you do in the environments and the ecosystem around properties, towns, communities, what
0:22.8	this comes with things like flood protections and so on, even basic things like dredging rivers
0:29.1	regularly.
0:43.0	Good morning, good evening, wherever you are. Matthew Grant here and delighted that you've joined us again.
0:49.0	And it's a lovely sunny day here in London. Summer has arrived, although I suspect it's not going to last very long.
0:53.6	Well, if you work in the world of insurance, you will have heard of today's company that we are talking to.
0:58.2	Swiss Re-Rie. It's one of the world's largest reinsurance organizations, and it's also been known for quite a long time for the research it does into losses, both man-made and natural disasters,
1:04.7	and providing also information and data through its solution catnet to its clients and actually also now to other
1:12.3	companies as well. Well, Robin is behind the microphone again today. He's talking to Russell Higginbotham.
1:17.9	He is CEO of Swiss Re Solutions and they're covering a whole range of topics including the use of
1:23.7	data for risk analysis, very much at the heart of how companies are underwriting.
1:30.5	Also, what does climate change mean for insurance?
1:33.5	Swiss three has always been one of the leaders in that area.
1:38.6	And thinking about strategies for how to build a resilient portfolio in these times of change.
1:44.6	And then finally, how do you get the balance right between data accuracy and financial inclusivity.
1:48.4	Well, we are delighted to have Swiss three as one of our corporate members.
1:51.5	And if you're interested in finding out more about how we can help you,
	...

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