Reinsurance – insurance for insurers – is a vital function, empowering insurers to offer more coverage to more customers at a more competitive price. It also provides insurers the foundations from which to develop new products.
But, despite its importance, it comes as a shock to find that some insurers are still using antiquated processes and methods to manage their reinsurance contracts and commitments.
At a time when every insight, innovation and advantage is needed to help insurers take ownership of their reinsurance program, these antiquated methods may be the biggest factor limiting their reinsurance program and business performance.
Are these antiquated methods of managing risk-reducing reinsurance now the riskiest thing in insurance?
And is your business exposed?
Download our new white paper – Reinsurance Management: The biggest risk in insurance? The top risks of using antiquated reinsurance management solutions. – to find out.
What are the antiquated methods and what are the risks?
Reinsurance can trace its origins back hundreds of years and, up until recently, industry change had been modest. It’s been out of this stability and predictability that these traditional management methods have flourished.
But, with the sector now undergoing exponential change, these once traditional and safe methods have now become outdated and extremely risky.
These risks can affect most areas of the business – from finance to compliance and even human resources – and the consequences of failure can be costly.
Find out what the top antiquated methods are, and the top 8 risks.
What will you discover?
- The types of antiquated reinsurance management methods
- The top risks of using antiquated solutions
- The major consequences when these antiquated methods fail
- The alternative solutions
- Real-world examples
Reinsurance Management: The biggest risk in insurance?
The top risks of using antiquated reinsurance management systems.
Help avoid the risks and consequences.
Duck Creek Reinsurance is the modern alternative to the antiquated systems and processes still common throughout the reinsurance sector.
Cloud-based, extremely intuitive to use, smart – featuring intelligent processes, robust, regularly updated and able to naturally integrate with other core insurance systems, it will help significantly reduce the risks and consequences associated with other methods.
Begin the discussion today – get in touch to see how Duck Creek Reinsurance can help your business grow.