Tom Dawson and Michael Halsband were quoted in a Global Re article titled “Game Changers: From ILS to InsurTech.” The article discusses Bermuda’s potential to become a key player in InsurTech by using some of the same strategies it used in the alternative capital market.
InsurTech has achieved transformer status in the (re)insurance industry over the last 18 months, in the same way that alternative capital did. The island of Bermuda became a global hub for alternative capital and insurance-linked securities by establishing favorable regulations, enhanced disclosure and transparency. Experts believe these same tactics could position Bermuda similarly in the InsurTech market.
Tom explained, “As sophisticated risk exposure analysts and expert managers of capital, Bermuda reinsurers can offer carefully controlled capacity to InsurTech entrepreneurs and the locally licensed insurers that together will bring to market innovative insurance products and programs…[T]he reinsurance end of the value chain is very definitely one of Bermuda’s strongest suits.”
Michael added, “Bermuda can and will do what it has always done: serve as an innovation transformer for nascent and evolving risks, advancing the development of insurance products and platforms with its ample pool of forward thinking risk capacity.”
Read “Game Changers: From ILS to InsurTech.” (Subscription required)