#77 - Unlock Profit Potential in Hard Markets
Episode description
Get ready for the 2024 reinsurance renewal season with this in-depth look at strategies for optimising your reinsurance purchasing. Jerad and Ben examine how reinsurance needs and priorities have shifted in the current hard market environment. Learn why reinsurers are refocusing on their core role and how data limitations can undermine purchasing decisions. Discover approaches for articulating your risk coverage needs, securing budget increases, and targeting the most critical perils. Whether you're an insurer seeking reinsurance or a reinsurer with risk capital to deploy, don't miss this timely discussion on successfully navigating the 2024 renewals. OUTLINE & TIMESTAMPS: (00:00) - Intro (00:31) - Baden-Baden & SIRC (00:56) - Reinsurance Buying (01:21) - Reinsurance Purchasing Strategies (04:05) - Why Buy Reinsurance? (07:26) - Strategies for Offloading Risk (10:57) - Insurers Overbuying Reinsurance (14:59) - Most Critical Risks for 2023 (16:00) - Importance of Data in Purchasing Decisions (18:28) - Challenges Due to Poor Data (20:53) - Contract Terms and Need for Good Data (21:04) - Managing Risk CONNECT WITH US:
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