Insurtech Will Reshape Risk Industry

Insurtech will continue to transform the risk transfer industry. But to understand how that will happen it is important to consider how the industry has changed in other important ways up to this point, as Natalie Neto and Peter Dunlop, partners at Walkers (Bermuda), tell Bermuda:Re+ILS.

To properly understand just how much insurtech is shaping the Bermudian reinsurance landscape, it is important to consider the extent to which the industry has changed in the past 25 years, says Peter Dunlop, partner in the re/insurance practice at Walkers. He says that several key things have changed in that time.

First, the industry has achieved contractual certainty, which gives the industry and policyholders the comfort to properly understand the terms on which coverages are underwritten. This has reduced the number and nature of re/insurance disputes.