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ARTICLE · 14 MAY 2018

Bermuda's InsurTech Revolution

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Bermuda has been at the forefront of innovation since survivors of the Sea Venture shipwreck settled our shores. Successor generations grew from strength to strength, finding ways to survive on an island with limited natural resources.

BermudaInsurance
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Bermuda has been at the forefront of innovation since survivors of the Sea Venture shipwreck settled our shores. Successor generations grew from strength to strength, finding ways to survive on an island with limited natural resources.

The insurance industry proved to be our biggest success. Bermuda remained innovative in insurance by (i) being the birthplace of captives in the 1960s, (ii) offering unparalleled amounts of directors and officers liability in the 1980s, (iii) showing our capacity to take on risks after Hurricane Andrew in the 1990s, (iv) wowing the corporate world in the 2000s with our willingness to pay claims quickly after 9/11 and Hurricane Katrina, and (v) leading the development of insurance linked securities to now boast the largest sector in the world. Bermuda has had a multi-decade track record of insurance innovation.

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