Munich Re

München, Germany

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München, Germany
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News Article | April 17, 2017
Site: tech.eu

Belgian financial technology startup Qover has raised €5.5 million in a Series A round led by Anthemis. Qover is a startup in the growing “insurtech” space. It provides digital insurance APIs to help build digital insurance products. With its new funding, the company is expanding its first product, GAP motor coverage, beyond Belgium and will open a London office. It is currently in a partnership with Munich Re and has coverholder status with Lloyd’s of London. “Armed with this funding, partnerships with two of the world’s leading risk carriers, and a product already in market, the Qover team has big plans for 2017 and beyond,” said cofounder Jean-Charles Velge. “Anthemis are strong believers of the notion of embedded insurance and fully support Qover’s ambitious vision of an API-driven insurance industry,” added Yann Ranchere, partner at lead investor Anthemis. Qover previously raised €1.5 million in a seed round last year from BelCube and Callatay & Wouters.


Building on their existing collaboration, Beazley and Munich Re's Corporate Insurance Partner today announce the creation of Vector, a partnership to bring innovation and capacity to the large cyber market. Vector cements a relationship between the two insurers forged a year ago, through which the world's largest companies can obtain up to $100 million (or €100 million) of cover for a wide range of first party and third party cyber exposures. The partnership garnered an award for innovation at the European Risk Management Awards in December 2016. Since the launch, many Fortune 1000 businesses have built stronger cyber towers with the support of the partnership, typically at the primary level. Half of the organisations considering Vector are new to the cyber market and span across the globe. "We're seeing particularly strong demand for first party cover from industrial enterprises such as manufacturers and other organisations that have not historically bought cyber insurance or have only bought low limits," said Chris Storer, head of cyber solutions for Munich Re's Corporate Insurance Partner. "Production line shutdowns triggered by cyber attacks can be complex to resolve, generating large business interruption costs." This trend is reflected in broader cyber market indices. According to insurance data specialists Advisen, manufacturers' purchases of cyber insurance almost doubled between 2015 and 2016. Another trend that is spurring demand for cover is intensifying regulatory scrutiny. The US Food and Drug Administration recently joined a long list of US regulators expressing concerns about the adequacy of certain companies' cyber security precautions. And under the European Union's General Data Protection Regulation, due to come into force in May 2018, fines of up to 4% of global annual turnover can be imposed on companies that are negligent in the handling of personal data. "Regulators have the bit between their teeth," said Paul Bantick, international focus group leader for Beazley's technology, media and business services team. "For years, regulators in the United States have taken a far tougher approach to cyber security issues than their counterparts elsewhere. But that is changing and regulatory pressure is undoubtedly a driver of demand for cyber insurance. "But intensifying regulation is by no means the whole picture. The operational and reputational risks of cyber attacks also weigh increasingly heavy on large companies."


News Article | May 3, 2017
Site: tech.eu

Israeli-founded online insurance company Next Insurance has raised $29 million from Munich Re/HSB Ventures with participation from Markel, and Nationwide. Existing investors Ribbit, Zeev Ventures and TLV Ventures also contributed to the Series A round for the company, which is now based in Silicon Valley. The company, which released its Facebook chatbot for small business insurance recently, will invest the funds in developing more digital insurance products and push into new sectors. Lately it has begun selling more to small businesses such as photographers and personal trainers, according to the company. The small business insurance market is “digitally underserved,” said Next Insurance CEO Guy Goldstein in a statement. “Next’s platform is able to overcome significant challenges by simplifying and expediting the insurance sign up and engagement process for the small business owner and channeling advanced data analytics to create policies that are tailored to the unique needs of different classes of business,” he said. The post Online insurance firm Next Insurance raises $29 million appeared first on Tech.eu.


News Article | April 24, 2017
Site: marketersmedia.com

Reinsurance -Market Demand, Growth, Opportunities and Analysis of Top Key Player Forecast To 2022Pune , India - April 24, 2017 /MarketersMedia/ — Reinsurance Industry Description Wiseguyreports.Com Adds “Reinsurance -Market Demand, Growth, Opportunities and Analysis of Top Key Player Forecast To 2022” To Its Research Database This report studies the Reinsurance market status and outlook of global and major regions, from angles of players, regions, product and end Application/industries; this report analyzes the top players in global and major regions, and splits the Reinsurance market by product and Application/end industries. The major players in global market include Munich Re, Swiss Re-insurance Company, Hannover Re, SCOR, Reinsurance Group of America, XL Group Plc, PartnerRe Ltd., Everest Reinsurance (Bermuda), Ltd. , Catlin Group Limited, Korean Reinsurance Co, Berkshire Hathaway Cooperation, Lloyd’s of London, HDI-Gerling, AXA, Allianz, China Reinsurance Company Request for Sample Report @ https://www.wiseguyreports.com/sample-request/1218363-global-reinsurance-market-size-status-and-forecast-2022 The global Reinsurance market is valued at XX million USD in 2016 and is expected to reach XX million USD by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions. United States will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Reinsurance. EU also play important roles in global market, with market size of xx million USD in 2016 and will be xx million USD in 2022, with a CAGR of XX. Leave a Query @ https://www.wiseguyreports.com/enquiry/1218363-global-reinsurance-market-size-status-and-forecast-2022 Table of Contents Global Reinsurance Market Size, Status and Forecast 2022 1 Industry Overview 1.1 Reinsurance Market Overview 1.1.1 Reinsurance Product Scope 1.1.2 Market Status and Outlook 1.2 Global Reinsurance Market Size and Analysis by Regions (2012-2017) 1.2.1 United States Reinsurance Market Status and Outlook 1.2.2 EU Reinsurance Market Status and Outlook 1.2.3 Japan Reinsurance Market Status and Outlook 1.2.4 China Reinsurance Market Status and Outlook 1.2.5 India Reinsurance Market Status and Outlook 1.2.6 Southeast Asia Reinsurance Market Status and Outlook 1.3 Classification of Reinsurance by Product 1.3.1 Global Reinsurance Revenue (Million USD) and Growth (%) Comparison by Product (2012-2022) 1.3.2 Global Reinsurance Revenue (Million USD) Market Share (%) by Product in 2016 1.3.3 Life 1.3.4 Non-life 1.4 Reinsurance Market by End Users/Application 1.4.1 Treaty Reinsurance 1.4.2 Facultative Reinsurance ... 3 Company (Top Players) Profiles and Key Data 3.1 Munich Re 3.1.1 Company Profile 3.1.2 Main Business/Business Overview 3.1.3 Products, Services and Solutions 3.1.4 Munich Re Reinsurance Revenue (Million USD) (2012-2017) 3.1.5 Recent Developments 3.2 Swiss Re-insurance Company 3.2.1 Company Profile 3.2.2 Main Business/Business Overview 3.2.3 Products, Services and Solutions 3.2.4 Swiss Re-insurance Company Reinsurance Revenue (Million USD) (2012-2017) 3.2.5 Recent Developments 3.3 Hannover Re 3.3.1 Company Profile 3.3.2 Main Business/Business Overview 3.3.3 Products, Services and Solutions 3.3.4 Hannover Re Reinsurance Revenue (Million USD) (2012-2017) 3.3.5 Recent Developments 3.4 SCOR 3.4.1 Company Profile 3.4.2 Main Business/Business Overview 3.4.3 Products, Services and Solutions 3.4.4 SCOR Reinsurance Revenue (Million USD) (2012-2017) 3.4.5 Recent Developments 3.5 Reinsurance Group of America 3.5.1 Company Profile 3.5.2 Main Business/Business Overview 3.5.3 Products, Services and Solutions 3.5.4 Reinsurance Group of America Reinsurance Revenue (Million USD) (2012-2017) 3.5.5 Recent Developments 3.6 XL Group Plc 3.6.1 Company Profile 3.6.2 Main Business/Business Overview 3.6.3 Products, Services and Solutions 3.6.4 XL Group Plc Reinsurance Revenue (Million USD) (2012-2017) 3.6.5 Recent Developments 3.7 PartnerRe Ltd. 3.7.1 Company Profile 3.7.2 Main Business/Business Overview 3.7.3 Products, Services and Solutions 3.7.4 PartnerRe Ltd. Reinsurance Revenue (Million USD) (2012-2017) 3.7.5 Recent Developments 3.8 Everest Reinsurance (Bermuda), Ltd. 3.8.1 Company Profile 3.8.2 Main Business/Business Overview 3.8.3 Products, Services and Solutions 3.8.4 Everest Reinsurance (Bermuda), Ltd. Reinsurance Revenue (Million USD) (2012-2017) 3.8.5 Recent Developments 3.9 Catlin Group Limited 3.9.1 Company Profile 3.9.2 Main Business/Business Overview 3.9.3 Products, Services and Solutions 3.9.4 Catlin Group Limited Reinsurance Revenue (Million USD) (2012-2017) 3.9.5 Recent Developments 3.10 Korean Reinsurance Co 3.10.1 Company Profile 3.10.2 Main Business/Business Overview 3.10.3 Products, Services and Solutions 3.10.4 Korean Reinsurance Co Reinsurance Revenue (Million USD) (2012-2017) 3.10.5 Recent Developments 3.11 Berkshire Hathaway Cooperation 3.12 Lloyd’s of London 3.13 HDI-Gerling 3.14 AXA 3.15 Allianz 3.16 China Reinsurance Company 3.17 … Buy Now @ https://www.wiseguyreports.com/checkout?currency=one_user-USD&report_id=1218363 Continued... Contact Us: Sales@Wiseguyreports.Com Ph: +1-646-845-9349 (Us) Ph: +44 208 133 9349 (Uk) Contact Info:Name: NORAH TRENTEmail: sales@wiseguyreports.comOrganization: WISE GUY RESEARCH CONSULTANTS PVT LTDAddress: Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar Pune - 411028Phone: +91 841 198 5042Source URL: http://marketersmedia.com/reinsurance-market-2017-global-analysis-opportunities-and-forecast-to-2022/189521For more information, please visit https://www.wiseguyreports.com/sample-request/1218363-global-reinsurance-market-size-status-and-forecast-2022Source: MarketersMediaRelease ID: 189521


— This report studies the Reinsurance market status and outlook of global and major regions, from angles of players, regions, product and end Application/industries; this report analyzes the top players in global and major regions, and splits the Reinsurance market by product and Application/end industries. The global Reinsurance market is valued at XX million USD in 2016 and is expected to reach XX million USD by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions. United States will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Reinsurance. EU also play important roles in global market, with market size of xx million USD in 2016 and will be xx million USD in 2022, with a CAGR of XX. The major players in global market include Munich Re, Swiss Re-insurance Company, Hannover Re, SCOR, Reinsurance Group of America, XL Group Plc, PartnerRe Ltd., Everest Reinsurance (Bermuda), Ltd. , Catlin Group Limited, Korean Reinsurance Co, Berkshire Hathaway Cooperation, Lloyd’s of London, HDI-Gerling, AXA, Allianz, China Reinsurance Company Get a PDF Sample of Market Report at: http://www.orbisresearch.com/contacts/request-sample/255728 Chapter One: Industry Overview 1.1 Reinsurance Market Overview 1.1.1 Reinsurance Product Scope 1.1.2 Market Status and Outlook 1.2 Global Reinsurance Market Size and Analysis by Regions (2012-2017) 1.2.1 United States Reinsurance Market Status and Outlook 1.2.2 EU Reinsurance Market Status and Outlook 1.2.3 Japan Reinsurance Market Status and Outlook 1.2.4 China Reinsurance Market Status and Outlook 1.2.5 India Reinsurance Market Status and Outlook 1.2.6 Southeast Asia Reinsurance Market Status and Outlook 1.3 Classification of Reinsurance by Product 1.3.1 Global Reinsurance Revenue (Million USD) and Growth (%) Comparison by Product (2012-2022) 1.3.2 Global Reinsurance Revenue (Million USD) Market Share (%) by Product in 2016 1.3.3 Life 1.3.4 Non-life 1.3.5 Type 3 1.3.6 Type 4 1.3.7 Type 5 1.4 Reinsurance Market by End Users/Application 1.4.1 Treaty Reinsurance 1.4.2 Facultative Reinsurance 1.4.3 Application 3 Chapter Two: Global Reinsurance Competition Analysis by Players 2.1 Global Reinsurance Market Size (Million USD) by Players (2012-2017) 2.2 Competitive Status and Trend 2.2.1 Market Concentration Rate 2.2.2 Product/Service Differences 2.2.3 New Entrants 2.2.4 The Technology Trends in Future Chapter Three: Company (Top Players) Profiles and Key Data 3.1 Munich Re 3.1.1 Company Profile 3.1.2 Main Business/Business Overview 3.1.3 Products, Services and Solutions 3.1.4 Munich Re Reinsurance Revenue (Million USD) (2012-2017) 3.1.5 Recent Developments 3.2 Swiss Re-insurance Company 3.2.1 Company Profile 3.2.2 Main Business/Business Overview 3.2.3 Products, Services and Solutions 3.2.4 Swiss Re-insurance Company Reinsurance Revenue (Million USD) (2012-2017) 3.2.5 Recent Developments 3.3 Hannover Re 3.3.1 Company Profile 3.3.2 Main Business/Business Overview 3.3.3 Products, Services and Solutions 3.3.4 Hannover Re Reinsurance Revenue (Million USD) (2012-2017) 3.3.5 Recent Developments 3.4 SCOR 3.4.1 Company Profile 3.4.2 Main Business/Business Overview 3.4.3 Products, Services and Solutions 3.4.4 SCOR Reinsurance Revenue (Million USD) (2012-2017) 3.4.5 Recent Developments 3.5 Reinsurance Group of America 3.5.1 Company Profile 3.5.2 Main Business/Business Overview 3.5.3 Products, Services and Solutions 3.5.4 Reinsurance Group of America Reinsurance Revenue (Million USD) (2012-2017) 3.5.5 Recent Developments 3.6 XL Group Plc 3.6.1 Company Profile 3.6.2 Main Business/Business Overview 3.6.3 Products, Services and Solutions 3.6.4 XL Group Plc Reinsurance Revenue (Million USD) (2012-2017) 3.6.5 Recent Developments 3.7 PartnerRe Ltd. 3.7.1 Company Profile 3.7.2 Main Business/Business Overview 3.7.3 Products, Services and Solutions 3.7.4 PartnerRe Ltd. Reinsurance Revenue (Million USD) (2012-2017) 3.7.5 Recent Developments 3.8 Everest Reinsurance (Bermuda), Ltd. 3.8.1 Company Profile 3.8.2 Main Business/Business Overview 3.8.3 Products, Services and Solutions 3.8.4 Everest Reinsurance (Bermuda), Ltd. Reinsurance Revenue (Million USD) (2012-2017) 3.8.5 Recent Developments 3.9 Catlin Group Limited 3.9.1 Company Profile 3.9.2 Main Business/Business Overview 3.9.3 Products, Services and Solutions 3.9.4 Catlin Group Limited Reinsurance Revenue (Million USD) (2012-2017) 3.9.5 Recent Developments 3.10 Korean Reinsurance Co 3.10.1 Company Profile 3.10.2 Main Business/Business Overview 3.10.3 Products, Services and Solutions 3.10.4 Korean Reinsurance Co Reinsurance Revenue (Million USD) (2012-2017) 3.10.5 Recent Developments 3.11 Berkshire Hathaway Cooperation 3.12 Lloyd’s of London 3.13 HDI-Gerling 3.14 AXA 3.15 Allianz 3.16 China Reinsurance Company About Us: Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customised reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialisation. This helps our clients to map their needs and we produce the perfect required market research study for our clients. For more information, please visit http://www.orbisresearch.com/reports/index/-global-reinsurance-market-size-status-and-forecast-2022


ATLANTA--(BUSINESS WIRE)--More than 90 percent of underwriters are concerned about the potential impact that opioid addiction will have on mortality of the insured population, according to a recent survey by Munich Re, one of the world’s leading reinsurers. The survey of life insurance professionals was conducted at the Association of Home Office Underwriters (AHOU) Annual Conference, held in San Diego, California in April 2017. Of the 126 underwriters surveyed, nearly two-thirds (63 percent) reported that over the last year they have seen an increase in the number of insurance applicants with a history of opioid use. Further, more than half (56 percent) reported that they most often see a medical history of opioid use among applicants ages 35 – 54 years, while only 20 percent reported that they most often see a medical history of opioid use among applicants ages 55 years and older. This result is unexpected as it is generally held that individuals ages 55 years and older are more likely to have taken opioids for pain. More than half (53 percent) of the underwriters surveyed reported that the life insurance companies they work for do not currently test for opioids. Although the vast majority of underwriters surveyed expressed concern about the potential impact of opioid abuse on mortality, only half (50 percent) expect their companies to make any changes to their testing practices. “As the industry is facing one of the worst drug addiction epidemics in American history, it’s apparent that there is a disconnect between the effect this will have on mortality, and the likelihood of life insurance companies to change their underwriting policies,” said Bill Moore, vice president of underwriting and medical for Munich Re, US (Life). Only 8 percent of respondents said their company will test for opioids regardless of the policy size. 21 percent responded that their companies test for opioids for policies over $1 million, and a further 8 percent responded that their companies test at policy thresholds ranging from $100,000 to $1 million. “For life insurance companies, changing policies can appear to be an uphill battle, as it is likely to involve additional expenses for testing, discussions with marketing, or even internal concerns over timing of the approval process,” Moore continued. “However, we do have the tools and resources at our disposal to begin to detect risky behaviors or signs of abuse among policy holders, in the hopes that this may help in addressing the greater problem.” Among those surveyed, 89 percent observed that pharmacy databases could be useful when screening for chronic opioid use, as they have the potential to shed light on frequent prescription refills, or for multiple prescriptions from multiple doctors. The survey was conducted on site at the Association of Home Office Underwriters (AHOU) 16th Annual Conference in San Diego, California from April 2-3 2017, and is intended to represent the views of 126 underwriter attendees, primarily from life insurance companies, who participated in the in-person interviews. Note for the editorial staff: For further questions please contact Munich American Reassurance Company—Munich Re, U.S. (Life), founded in 1959, is one of the largest reinsurers in the U.S. offering life and disability reinsurance to insurance companies throughout the United States. The company also writes group, credit and other reinsurance products. Headquartered in Atlanta, with offices in Chicago and New York, the company is licensed, accredited or authorized in all fifty states; Washington, D.C.; Guam; and Puerto Rico. Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. This is how Munich Re creates value for clients, shareholders and staff. In the financial year 2016, the Group – which combines primary insurance and reinsurance under one roof – achieved a profit of €2.6bn. It operates in all lines of insurance, with over 43,000 employees throughout the world. With premium income of around €28bn from reinsurance alone, it is one of the world’s leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Its primary insurance operations are concentrated mainly in ERGO, one of the leading insurance groups in Germany and Europe. ERGO is represented in over 30 countries worldwide and offers a comprehensive range of insurances, provision products and services. In 2016, ERGO posted premium income of €16.0bn. Munich Re’s global investments (excluding insurance-related investments) amounting to €219bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group. This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments.


NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) announced today the appointment of Carol Pierce to the role of director in KBRA’s insurance group with a focus on captives, reinsurers, and alternative capital providers. Pierce joins KBRA’s analytic team after thirteen years with Munich Reinsurance America, where she was responsible for market, competitor, and client analysis, initially for the specialty-markets division and more recently for the reinsurance division. Prior to Munich Re, Pierce worked at A.M. Best, where she managed the team responsible for expanding ratings among captive insurers. Carol has held various underwriting and product development positions with several major insurance companies during her more than thirty years in the insurance industry. Pierce is a former member of the board of directors of the Vermont Captive Insurance Association (VCIA) and the International Center for Captive Insurance Education (ICCIE). She has been an active member of the Captive Insurance Company Association (CICA) and was a past recipient of the VCIA Captive Crusader Award. Additionally, Pierce has been a frequent speaker at industry conferences and has authored a variety of articles. Pierce holds a bachelor’s degree from Smith College and an MBA from the Keller Graduate School of Management. She is a chartered property casualty underwriter (CPCU) and has earned the Associate in Reinsurance (ARe) designation. “We are excited to have Carol on our analytic team. Her unique expertise, keen understanding of the alternative risk market, overall industry knowledge, and analytic skillset are tremendous assets to our credit-ratings team as well as the markets we serve,” said Andrew Edelsberg, managing director in the insurance group. KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).


News Article | June 27, 2017
Site: www.businesswire.com

PRINCETON, N.J.--(BUSINESS WIRE)--Munich Reinsurance America, Inc. (Munich Re, US) has developed an immersive Tornado Virtual Reality Experience to help people and businesses understand the devastation wrought by a tornado and the need to embrace resiliency to help reduce future property losses and save lives, all without actually being in harm’s way. Each year there are about 1,200 tornadoes in the United States. Preliminary reports from the National Oceanic & Atmospheric Administration (NOAA) show that there were an estimated 945 tornadoes from January to April 2017. With an early and active start to the 2017 tornado season, 34 deaths have unfortunately already been reported during this period, as compared to 18 deaths during all of 2016. Since the 1970s Munich Re has been monitoring loss trends for convective storms worldwide, which includes tornadoes. The damage these storms inflict on U.S. property has been steadily on the rise over the past 40 years, averaging less than $2 billion per year in the early 1980s; in 2016 the damage exceeded more than $22 billion in economic losses, including $15.3 billion in insured losses. “An increase of atmospheric heat and moisture due to our warming climate will likely increase the number of days per year that are favorable for thunderstorms and their associated hazards, including tornadoes,” said Mark Bove, senior research meteorologist at Munich Re, US. “The socio-economic impact of tornadoes will continue to escalate due to people moving to regions at greater risk to severe thunderstorms, increases in the value of personal property, and suburban sprawl creating more ‘targets’ for severe thunderstorms. Our Tornado Virtual Reality Experience can help people that have never experienced a tornado better understand the urgency and practicality of building resiliency into our homes and businesses to help protect property and people. “Many building codes in the U.S. do not require a home to withstand more than a 90 mph gust of wind for three seconds—the equivalent of a weak EF1 tornado with wind speeds between 86 to 110 mph,” warned Bove. “The U.S. experiences more tornadoes than anywhere else in the world, and a lack of resilient construction and weak or non-existent building codes in some states leaves many communities at risk of loss of property and lives when a tornado occurs.” Spending a dollar on disaster-risk mitigation and preparedness saves an average of $4 in future losses, according to the National Institute of Building Services. The Insurance Institute for Business & Home Safety (IBHS) notes findings from a recent study that homes built to its stronger, more resilient FORTIFIED Home™ standards had a seven percent higher appraisal value than similar homes built to conventional standards. “More stringent building codes and enhanced high wind construction materials can help reduce the costs associated with tornadoes and other types of storms,” added Bove. “Often, an incremental cost in resilient construction techniques in a new home can allow a building to withstand 130 mph winds—much more than the current requirements of many building codes, where they exist. A resilient home can help mitigate the physical damage to property and save lives and, when combined with adequate insurance, reduce the time it takes to return to normalcy after a tornado hits.” The Munich Re, US Tornado Virtual Reality Experience is available on YouTube and is best experienced when using a VR goggle headset. Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. This is how Munich Re creates value for clients, shareholders and staff. In the financial year 2016, the Group – which combines primary insurance and reinsurance under one roof – achieved a profit of €2.6bn. It operates in all lines of insurance, with over 43,000 employees throughout the world. With premium income of around €28bn from reinsurance alone, it is one of the world’s leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Its primary insurance operations are concentrated mainly in ERGO, one of the leading insurance groups in Germany and Europe. ERGO is represented in over 30 countries worldwide and offers a comprehensive range of insurances, provision products and services. In 2016, ERGO posted premium income of €16.0bn. Munich Re’s global investments (excluding insurance-related investments) amounting to €219bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group. The material presented here is for informational purposes only and is not intended to be legal, financial, risk management or any other type of professional advice. Recipients should always consult their own professional advisors in that regard. The information presented here should not be construed to create either expressly or by implication any warranty with respect to the Tornado Virtual Reality Experience. Munich Reinsurance America, Inc., and its affiliates disclaim any and all liability whatsoever resulting from use of or reliance upon this material.


DUBLIN--(BUSINESS WIRE)--UNIQA Österreich Versicherungen AG is using the ALLFINANZ Interview Server supplied by Munich Re Automation Solutions Ltd. for its life insurance operations. Since June 2016, AMSEL (AutoMated SELling) – as it is called internally – has been integrated into the existing sales platform, allowing for automated risk assessments with an immediate acceptance decision at point of sale. As a next step, UNIQA is also to apply this automation solution to personal accident insurance and life insurance sales via banks. With a market share of over 21 percent, UNIQA is Austria´s leading insurance company and offers products in all sectors of personal and property insurance, including life insurances. With the aim of generating new growth along with increasing profitability in this area of activity, the Management Board looked for an automation solution for risk assessment and an uninterruptible sales process. "Digitisation is changing the expectations and needs of our customers," says Dr. Peter Eichler, Member of the Management Board at UNIQA Österreich Versicherungen AG, reflecting on the strategy behind the investment: "We are determined to make use of the challenges this involves as an opportunity to progress from being a traditional insurer to become an integrated service partner for personal coverage. This calls for very close proximity to our customers, as well as processes that are demand-oriented and as efficient as possible." One module for this is the automation project launched in 2014 together with the company´s long-standing reinsurance partner, Munich Re. From the beginning, AMSEL has been implemented in dialogue with risk assessors and UNIQA´s sales organisation. The result is a tool for risk assessment at point of sale that is seamlessly integrated into the existing application platform. With the aid of AMSEL, agents need to ask customers fewer additional questions, receive in many cases an immediate risk decision and are able to promptly issue insurance policies. This strengthens the agent´s competencies. The benefit for customers is - what previously took up to three weeks in the case of standard risks can now be dealt with at a single meeting using AMSEL. Acceptance levels in the sales sector are therefore high. This was confirmed by the qualified engineer Thomas Jaklin, Head of Technology & Service at UNIQA Österreich Versicherungen AG: "One year after being introduced, AMSEL is meanwhile used by about 95 percent of our tied agents. We believe that there is great potential to replicate this success among brokers and general agencies." Thanks to AMSEL, UNIQA benefits from significantly accelerated processing in the case of approximately one third of all applications. Furthermore, this automation solution consistently provides risk assessments of high quality and is so flexible that if necessary, UNIQA is able to easily adjust the questionnaire itself. In all, this reduces costs and releases urgently required personnel capacity in the risk assessment sector. In future, UNIQA aims to benefit from these advantages in other areas of activity. Dr. Eichler announced: "We shall now extend the use of AMSEL to include personal accident insurance. Its launch in the segment of bank sales is due to follow in 2018 under our Raiffeisen Versicherung brand. We have already informed the sales agents and are anticipating a high level of acceptance in these areas too." Paul Donnelly, Executive Vice President EMEA at Munich Re Automation Solutions Ltd: "With its automation solution specially aligned to the Austrian market, UNIQA is setting standards in the fields of customer-oriented risk assessment and policy issuance. By launching this initiative, UNIQA is demonstrating how much importance it attaches to saving customers´ time. As a result, Austria´s most well-known insurance company is continuing to enhance the high degree of trust enjoyed among customers and positioning itself on the market as a service and technology leader." You can find our more about UNIQA Österreich Versicherungen AG at:


DUBLIN--(BUSINESS WIRE)--UNIQA Österreich Versicherungen AG nutzt in der Lebensversicherung den ALLFINANZ Interview Server von Munich Re Automation Solutions Ltd. Seit Juni 2016 ist AMSEL (AutoMated SELling) – so die unternehmensinterne Bezeichnung – in die bestehende Vertriebsplattform integriert und erlaubt automatisierte Risikoprüfungen mit sofortiger Annahmeentscheidung am Point of Sale. Im nächsten Schritt will UNIQA die Automatisierungslösung nun auch in der Unfallversicherung und in der Lebensversicherung im Bankenvertrieb einsetzen. Die UNIQA ist mit über 21 Prozent Marktanteil die führende Versicherung in Österreich und bietet Produkte in allen Sparten der Personen- und Sachversicherung an – darunter auch in der Lebensversicherung. Um in diesem Geschäftsfeld neues Wachstum bei steigender Profitabilität zu generieren, suchte der Vorstand nach einer Automatisierungslösung für die Risikoprüfung und einen unterbrechungsfreien Vertriebsprozess. Ein Baustein dafür ist das 2014 mit dem langjährigen Rückversicherungspartner Munich Re gestartete Automatisierungsprojekt. AMSEL wurde von Beginn an im Dialog mit den Risikoprüfern und der Vertriebsorganisation von UNIQA umgesetzt. Das Ergebnis ist ein nahtlos in die bestehende Antragsplattform integriertes Tool für die Risikoprüfung am Point of Sale. Mithilfe von AMSEL stellt der Vermittler dem Kunden wenige zusätzliche Fragen, erhält in vielen Fällen sofort eine Risikoentscheidung und kann den Antrag direkt policieren. Dies stärkt die Kompetenz des Vermittlers. UNIQA profitiert mit AMSEL bei etwa einem Drittel aller Anträge von erheblich beschleunigten Prozessen. Zudem liefert die Automatisierungslösung konsistente Risikoeinschätzungen in hoher Qualität und ist so flexibel, dass UNIQA den Fragenkatalog bei Bedarf leicht in Eigenregie anpassen kann. In Summe reduziert dies die Kosten und setzt dringend benötigte Personalkapazitäten in der Risikoprüfung frei. Von diesen Vorteilen will UNIQA künftig in weiteren Sparten profitieren. Dr. Eichler kündigt an: „Wir werden den Einsatz von AMSEL nun auf die Unfallversicherung ausweiten. 2018 soll der Start im Bankenvertrieb unter unserer Marke Raiffeisen Versicherung folgen. Wir haben die Vermittler bereits informiert und rechnen auch hier mit einer hohen Akzeptanz.“

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