EMEA Insurance Digest

Insurance M&A Performance Tracker

A year of megadeals, political instability and strong equity markets has left insurance acquirers underperforming. But that doesn't mean the industry should discount M&A altogether – the long-term gains are encouraging. We discuss why in our latest annual Insurance M&A Performance Tracker produced in conjunction with Cass Business School and Mergermarket.

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Silent cyber risk outlook

Insurance policies specifically designed to cover cyber risk are a growing segment of the market. However, insurers are increasingly concerned about silent cyber exposure: potential cyber-related losses due to silent coverage from insurance policies not specifically designed to cover cyber risk.

We wanted to find out how big an issue this could be for insurers. Our survey sample comprised nearly 750 participants: leaders and experts at more than 70 insurance companies and groups around the world, as well as within Willis Towers Watson.

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The future of financial services

We are now at the beginning of a fourth industrial revolution driven by technology that will transform the way we work and live. We believe in the coming years more jobs in financial institutions are at 'high risk' of automation than any other skilled industry.

Financial institutions are, and will continue to be, top targets of cyberattacks; and fintech continues its powerful disruption of the industry, now supplemented by insurtech and regtech. All of these developments meet at the intersection of people and technology.

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IFRS 17 bite-sized video series – Transition

The principles-based nature of IFRS 17 will require insurers to make many technical and practical decisions that will have significant consequences on both the financial and practical impacts of implementation. In our new series of bite-sized videos, each lasting just a few minutes, we will address each of these issues in turn, explaining the choices available and the factors and consequences to consider. The first video discusses the transition approach, which is one of the most significant choices behind IFRS 17 adoption.

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Quarterly InsurTech Briefing Q2 2017

We outline how the use of technology can revolutionise claims management by helping insurers transition from a model focused on payments and cost, to one of claims management and risk mitigation – leading to higher client satisfaction and retention.

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The Capital Conundrum

The reinsurance market has maintained the downward pricing trends seen at the January and April renewals, despite first-quarter deterioration for many reinsurers' results. For the most part, excess capacity chasing modest demand has allowed buyers to achieve both further reinsurance cost savings, albeit at a reduced level to last year, and enhanced coverage.

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Introducing vPlace: A virtual workplace to maximise your software investment

Sophisticated analytical and modelling software provides serious competitor advantage to insurers. However, in many instances the IT support needed to fully benefit from this software is outpacing insurers' existing IT, leaving them unable to reap the rewards of their software investment. Our solution? vPlace – a new online actuarial workspace to enable insurers to reduce IT complexity and optimise the performance of their Willis Towers Watson software.

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Solutions for Life Insights

Visit our Solutions for Life Insights blog for our latest thinking on financial modelling and reporting for life insurers. New posts include:

• Linear optimisation: A powerful technique for model pointing and cashflow fitting.
• Refining Prudential UK's data processes for better data quality and reduced working-day timetables.
• STAR RN: Streamlining the scenario generation process for firms relying on heavy-duty stochastic modelling.

Visit our microsite to find out more about Solutions for Life – our integrated portfolio of technology and consulting solutions for your risk and actuarial process demands.

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US Commercial Lines Insurance Pricing Survey 2017 Q2

Our most recent US Commercial Lines Insurance Pricing Survey compared prices charged on policies underwritten during the second quarter of 2017 to those charged for the same coverage during the same quarter in 2016. Price changes reported by carriers averaged less than 1% for the eighth consecutive quarter, following a moderating trend in price increases that began in the first quarter of 2013.

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