In 2016 we worked with a Belgian bank insurer that was looking to simplify the process of evaluating new borrowers for Death and Disability protections. It wanted to increase the number of policies issued to eligible participants immediately upon concluding their mortgage assessments.

By using COMPASS, Gen Re’s comprehensive online medical and professional assessment system, this client was able to achieve its goals and simultaneously improve underwriting quality. The bank was able to offer policies to 90% of its 80,000 new borrowers (in either French or Dutch) at the point of sale, or via smartphone, where it had previously taken several days.

The success of this program prompted the client to reorganize its future product development around COMPASS and a proportional participation with Gen Re. In 2017 the bank launched Critical Illness and Long Term Care products, both created and reinsured by Gen Re in a 50% quota share. Two more new products are in development for 2018.

Richard Lambert
Senior Account Executive
Life/Health – International

The long-term success of a new product line requires a flexible reinsurance partner with your best interests in mind. This is how we came to work with a company that was looking to develop and expand its range of Liability and Property products.

A well-established insurer in certain lines, this company understood the need to build its new product on strong foundations, including rates, forms, underwriting and claims expertise. It was not comfortable with the existing proposal presented by its broker but wanted to move quickly.

After getting to know the company and its long-term goals and objectives, we presented a treaty proposal for General Liability and Property within a few weeks of our initial meeting. We also provided a Property Facultative program and the option to access higher Casualty Facultative limits. Our experience and flexibility, as well as the knowledge that we were investing in the client's long-term success, were critical factors in its decision to work with us.

Paul Wagner
Senior Account Executive
The Mutual Practice Treaty – North America

Cyber Risk insurance represents a potentially huge growth market for Property/Casualty companies. The number of smart devices that use wireless technology to connect, send and receive data is projected to reach 35 billion by 2020. But the underwriting challenges can seem immense.

We recently worked with a longstanding client that recognized the need to enter the Cyber Risk space but was concerned about rapidly changing cyber laws and emerging cyber threats. This client wanted a tailored solution with excellent security and ease of doing business, backed up by specialist underwriting and claims expertise.

Knowing how best to support a start-up business group, we quickly met our client’s needs with an effective combination of A++ capacity and policy forms designed to suit this new, complex product line. Our underwriting and product experts continue to work as knowledge partners with this client, profitably growing a new line of business alongside their team.

Molly Corbett
Business Development Specialist
Treaty – North America

Gen Re works hard to find smart ways of working for its clients. One of our longstanding Commercial Lines clients in Canada was buying Facultative reinsurance on several hundred accounts that were similar in occupancy, size and complexity every year. We saw a way the carrier could administer more accounts in less time and reach its premium goals. Because it has multiple offices, the client needed a simple solution that would accommodate multiple users for real-time coordination within its teams.

We introduced the client to Gen Re Connect, a customized web-based application that allows clients to quickly and easily submit and bind risks, as well as collect, track and analyze activity. Applications are customized for each client, using terminology familiar for each client's business. So for clients, Gen Re Connect is user friendly, intuitive and easy to implement or plug in.

Thanks to Gen Re Connect, this client now spends less time placing reinsurance and more time writing new business.

Kacy Crumb
Senior Underwriting Specialist
Property Facultative – North America

Like many of its peers today, one of our bigger clients was looking to consolidate its reinsurance panel. The client, which is the purchaser of one of the largest natural catastrophe reinsurance programs in the world, wanted to reduce the number of participants on its panel – but only if capacity was available at competitive terms with acceptable financial security.

At this year’s renewal, Gen Re evaluated the pricing, terms and conditions on the contract and elected to expand our offered capacity into additional layers at competitive prices. This approach allowed the client to achieve its objectives by eliminating multiple participants writing smaller lines and at the same time improve the overall security of its reinsurance program.

Stephen Brunker
Senior Underwriting Specialist
Treaty – International

Gen Re analytics solutions for Facultative underwriting help our Life & Health clients to meet revenue goals, improve profitability and persistency, retain and attract producers and customers, and enhance return on underwriting expenses.

One client, a mid-size Life company in the U.S., wanted to increase its written premium to meet its sales goals. Gen Re reviewed the underwriting decisions on the client's applications – specifically those that were not placed, postponed, withdrawn or retired as incomplete – to gauge what could be done to boost results.

Utilizing a recently developed, Facultative-only reinsurance program that employs decision analytics methodologies, we helped the client increase the number of offers that it was able to deliver to applicants, ultimately allowing them to place more business.

Our 2nd Look and PURFac programs were particularly valuable to them. 2nd Look targets applications that are lacking definitive risk assessment, while PURFac is a preferred upgrade program.

Joe Atamaniuk
Vice President, Head of Marketing & Account Management
Life/Health – North America

Life & Health insurers need a skilled and knowledgeable workforce if they are to sustain their competitive advantage. But it’s not always easy to find high-quality training and professional development programs in such a specialist area.

Addressing this challenge for ourselves as well as our clients was the catalyst for creating Gen Re Business School and the COMET (Commitment to Ongoing Medical Education & Training) initiative.

Founded 25 years ago, the Gen Re Business School in Cologne offers technical training programs in underwriting, claims management, actuarial, managerial and risk management disciplines. It offers multilevel courses for those just starting out, changing careers or working toward a professional certificate. COMET training, celebrating its 20th anniversary in 2017, is widely recognized as a global benchmark for medical insurance education and our qualifications are recognized by industry bodies around the world. Since expanding our offering across Asia, more than 15,000 insurance executives from the region have attended COMET's suite of modules for underwriters, claims assessors, actuaries and product developers.

Dr. Marianne Kutzner
Vice President, Head of Gen Re Business School
Life/Health – International