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M&A: Transformation in the global insurance market

October — Megadeals drove the rebound in values for the insurance M&A market in the first half of 2018. Key deal drivers relate to changing business models. As regulatory pressures become the norm, new models are emerging and more insurance businesses are seeking to return to their core strategies.

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Eight key considerations for chief risk officers now that strategic planning is over

November — The first article in the blog series, A Year in the Life of the Strategic CRO, identifies the key things to consider when assessing if the enterprise risk management program appropriately reflects the business as it is now and what it will be in the future.

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Market interest in ILS spurs growth

October — Investors, fund managers and (re)insurance cedants have weathered recent, costly natural catastrophes with their enthusiasm for insurance-linked securities (ILS) intact. Almost all reinsurers and cedants surveyed now see ILS as a positive factor in the market and anticipate further growth in the years ahead.

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2018 claim cost estimates lower than general inflation, reversing 2013 to 2017 trend

November — The Willis Towers Watson Claim Cost Index updates a family of price indices for major lines of business written by property & casualty insurers. The Index is calculated from a variety of sources (e.g., the Consumer Price Index and the Producer Price Index) that reflect insurance costs and indicate the rate of change in claim severity.

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Video: A leader in InsurTech

November — In an interview with A.M. BestTV, Kevin Gregson discusses how the company enables insurance innovation with new technology. Gregson also offers insights on the industry’s biggest technology disrupters.

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In light of regulatory, tax changes, will Bermuda continue to be attractive to reinsurers?

October — Bermuda’s flexible regulatory environment and potential for lowering capital requirements and operating costs have long attracted insurers. But new regulatory changes have U.S. life and annuity reinsurers with interests in the island territory concerned.

Town hall building in Bermuda

Editor's picks

Video: Automation, AI and the future of insurance

November — In an interview with Reuters, Alice Underwood and David Ovenden explore how the rate of change in the insurance industry is unlike anything we've seen before, particularly in the space of artificial intelligence and automation, and outline how insurers are responding.

How the insurance industry is embracing advanced analytics

November — Emerging data sources and advanced analytics have swiftly become new frontiers for insurers. There is now more consumer data available than ever before. But what’s the best way to use it?

IASB reluctant to reopen IFRS 17 but will consider deferring effective date by one year

November — The IASB is willing to consider insurance industry concerns with IFRS 17, but the hurdle for any potential amendments to clear will be a high one.

ILS Market Update Q3: Index triggers — no panacea but still helpful

November — A record-high $1.6 billion of non-life insurance-linked securities (ILS) capacity was issued in Q3, 2018, highlighting the continued enthusiasm for ILS among issuers and investors. Meanwhile, the market continues its move away from index triggers (including parametric triggers), preferring indemnity-based structures.

2018 prescribed U.S. statutory and tax interest rates for the valuation of life insurance and annuity products

October — Willis Towers Watson's 2018 annual summary report notes two significant changes impacting valuation interest rates for life and annuity products: adoption of VM-22 for payout annuities and implementation of the Tax Cuts and Jobs Act of 2017.

In the news

ResQ Financial Reporter: Willis Towers Watson to launch new software that takes the complexity out of IFRS 17

November 29 — Willis Towers Watson is set to launch new software in early 2019 to help businesses implement IFRS 17, which is one of the most significant and complex changes to insurance accounting requirements in over 20 years. ResQ Financial Reporter will provide insurers with an efficient framework to generate financial statements and supporting disclosure requirements.

Willis Towers Watson provides innovative pricing technology to new telematics insurer Ticker

November 7 — Willis Towers Watson is providing Ticker, a new telematics insurer launching in early 2019, with the latest version of its Radar pricing software. Radar Live and Radar Base will enable Ticker to deliver consistent, accurate and sophisticated decisions in pricing and underwriting.

Willis Towers Watson strengthens its P&C insurance business with two new senior hires

October 10 — Willis Towers Watson announced the appointments of Jeffery Hay and Kathryn Walker as senior directors, consulting services within its Insurance Consulting and Technology, Americas P&C practice. In their new roles, Hay and Walker will deliver pricing, predictive analytics, reserving, product and underwriting solutions for the company’s P&C clients.

Willis Towers Watson names Marisa Ruscitto technology sales leader for its Insurance Consulting and Technology business in the Americas

October 9 — Willis Towers Watson announced the appointment of Marisa Ruscitto as technology sales leader for its Insurance Consulting and Technology business in the Americas. In the role, Ruscitto will be responsible for all activities related to the sales model of the company’s insurance software portfolio in the region.

Willis Towers Watson and Plug and Play announce a global InsurTech partnership

October 8 — Willis Towers Watson announced an international InsurTech partnership with Plug and Play, a global innovation platform. This agreement expands upon the two companies’ existing partnership by extending Willis Towers Watson’s access to early stage InsurTech start-ups across all of Plug and Play’s InsurTech platforms, which include Beijing, Munich, New York, Silicon Valley, Singapore and Tokyo.

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