InsurTech at Gallagher Re
As a trusted adviser to primary insurers, reinsurers and other corporate clients, Gallagher Re takes a lead in supporting both market incumbents and new entrants to profit from InsurTech. Opportunities abound for businesses to solidify their position, grow, diversify, and lower expense ratios – if they make sound choices about who and what they work with.
Technology is revolutionizing the world we live in – including the (re)insurance value chain.
But with so much activity going on, including a constantly growing slew of new market entrants, it can be a confusing scene.
The InsurTech team within Gallagher Re has made it our mission to conduct forensic analysis of the global third-party insurance technology ecosystem, looking to support our insurer clients with their innovation strategies and to help owners of outstanding technology with their funding, development and potential partnerships.
Monitoring the InsurTech Ecosystem at Gallagher Re
- Look to the market to assess and analyze trends
- What do you want the technology to do?
- Identify processes that could be automated
- Will this solution be appropriate for everyone?
- What are the risks associated with not doing anything?
- Evaluate the extent to which technology can complement a current book or help grow new books
- Do we know how to apply this technology effectively?
- Technology companies, venture capitalists involved in accelerators and start-ups and their investors at Digital Safaris and/or Digital one-day events
- How can we measure the success of technology?
Improve Expense Ratio and Grow Top Line
- Introduce technology that will lower expense ratios and improve the customer experience
A Truly Global Approach
We have a presence in major markets around the world, including partnerships with Plug and Play, so that we spot the regional trends early and understand specific market nuances. Moreover, we have vetted literally hundreds of start-ups in recent years and this, combined with our deep industry and risk placement knowledge helps enable all players in the InsurTech space to navigate the opportunities and to realise benefits from:
- Supporting Incumbent Books of Business
- Growing New Lines of Business
- Reducing Internal Inefficiencies