Gallagher Re’s Johnston: Insurtech Spending Surging

Tobias Grimm, head of climate advisory and natural catastrophe data with Munich Re’s climate change solutions department, says that the first half of 2024 has been a costly year for P/C insurers due to increased tornado activity and regional weather extreme events.

Andrew Johnston, global head of insurtech for Gallagher Re, details the findings of a recently published report about levels of investment and funding for insurance-related technology including artificial intelligence.

Firmly established for years as the leading open-invitation market presentation event at the Rendez-Vous in Monte Carlo, this briefing is a unique opportunity for reinsurance market insight and opinion ahead of busy bilateral meeting schedules. Key discussion points include: AM Best's trend analysis on the global reinsurance sector; if pricing discipline will be maintained; AM Best’s global reinsurance outlook and the drivers of future rating movements; the impact of alternative capital and ILS; and key rating issues impacting all reinsurers.

Dawn Walker of AM Best was recently interviewed on the Insurance Nerds podcast, on which she detailed advantages of a Performance Assessment for delegated underwriting authority enterprises in providing transparency.

Jessica Ruggles, corporate vice president, New York Life, said baby boomers are more likely to have savings than other generations, while younger workers, including Gen Z, are recognizing the importance of early planning.

In his book, The Anxious Salesman, sales author J. Sheldon Snodgrass provides a roadmap for insurance professionals to replace their inner critic with empowering dialogue, fostering sales success and inner peace.

Insurtech Building Blocs, a podcast hosted by AgencyBloc CEO Tim Robinson and CTO Cory Schmidt, takes a macro look at health benefits and senior market Insurtech industry happenings.

Chris Myers, enterprise capital strategist at New England Asset Management, said risk-adjusted returns and benchmarks can be very effective.

Jamie Langes, vice president of environmental underwriting for Philadelphia Insurance, said that per- and polyfluoroalkyl substances, known commonly as PFAS, represent an opportunity for significant losses for companies in a wide range of industries.

Mike Marks, AVP, emerging markets, Nationwide Excess & Surplus and Specialty, says that his dedicated team brings the capability to Nationwide to explore and discover emerging and unmet customer needs to address these unique opportunities.