Will the future of insurance go through prisoners of war?

The end of 2021 rhymed with corporate insurance renewals. After two years of economic and health crisis, this period turned out to be very complex for these companies. This was explained by Brigitte Bouquot, former president of AMRAE, during the roundtable at the 29th AMRAE meeting in February last year. “All risk managers are in the insurance program, Increase in deductions (Sometimes until multiplying by 6), Insurance premium rate goes up 30-60% Capacity reduction On some branches She elaborate. There was also Reliable loss For insurers, the decision didn’t arrive on time and the process was completely chaotic, as if the model built over the years had stopped working. “

At this last point, she was joined by Hervé Houdard, Vice President of DIOT-SIACI, an insurance consultant and securities firm group. “”The concept of trust and partnership Completely abandoned.. Partners, insurers, and even past reinsurers with years of accounts have withdrawn overnight.I have to go back to some basics Much healthier relationshipHe is careful.

Beyond this loss of self-confidence, the end of 2021 Plosive between insurance company and risk manager.. “It feels like insurance companies haven’t listened to what companies are saying for at least five years.” Resume Brigitte Bouquot. “Insurance companies Company Profile, Their statistics and their prevention. Prices have been revised with a uniform capacity limit, regardless of capacity limit. Technical, industrial and professional variability Of each insured.Understand by increasing the risk of becoming difficult without falling into absurdity..But the insurance company Return to TaylorMade It’s not a button press that penalizes everyone. ” Details of Hervé Houdard.

POW: A new solution?

Faced with this division, questions now arise. Insurance potential for certain major risks Depends on the insurance company. “I think insurance is always there. All you have to understand is that the world has changed. Uncertainty and volatility have become the norm and they give you Vision for the future And abandon this retrospective vision, even if it means adjusting over time. When faced with critical development dynamics, the vision needs to be positive, it may be in transition, and cruising isn’t always there, and it needs to retreat a bit. I have to admit. Work together“” Learn about Franckle Vallois, Managing Director of France Assureurs.

Another solution for the enterprise: go through Self-insurance,Especially POW.. These insurance or reinsurance subsidiaries, like other insurers, allow them to become insurers without the risks inherent in each company and, therefore, over time in a professional and supervised manner. Interact. “If the company does not insure, Account volatility result..We find that the development of this self-insurance, especially through these prisoners of war, is for businesses of all sizes. How to solve the situation.. And I recommend it to companies that don’t yet have a captive to make a captive in France. ” Brigitte Bouquot reports.idea It also appeals to insurance companies like Frank Le Barois. “Captive projects provide this particular tax treatment, which allows pooling over time, which means that the system has Business sense And we agree with it. “

Dates becoming more and more important

Another axis of these insurance developments is dataContinues to develop and accelerate. “Data and technology Help companies and insurance companies identify these risksInvest and intervene.Today, through these data, we may make a diagnosis Impact of climate risk Over decades. There are also subjects that are being developed based on the fact that today’s data is used to determine risks to the supply chain.“” Learn about Bruno Mostermans, Managing Director of Swiss ReCorporate Solutions...

New data to consider. Big challenge For companies. “Without efforts to know this data internally, there is no risk insurance. Strategic work By becoming Each business line has this data about that claimAbout its prevention and the success of the enterprise in integrating it. “ Brigitte Bouquot continues.

One of the major areas that will be insured over the next few years is Cyber ​​risk.. “it’s necessary Beware of chronic anxiety This can still be declared, and it’s already happening in certain enterprises, especially cyber. “ Warn Hervé Houdard. Because cyber risk is the real danger of today. “Today, the threat has changed. It’s no longer a threat, it’s a reality with destructive logic. What’s very positive is Answers are organized by companyThrough large-scale investment “ Add Bruno Mostermans. “What we are looking at today at the startup and cyber level is computer protection for all networks and emails at the IP address level, which allows us to protect the entire insurance-related traffic. The advantages of this type of solution are Much easier to insure For insurance companies, because they have information about prevention. “ He makes a conclusion.