Charting New Territory: Positioning the UK (Lloyd's) in a changing global reinsurance landscape
Lead Research Organisation:
City, University of London
Department Name: Faculty of Management
Abstract
Despite a long history of success as a main financial centre for buying and selling reinsurance, Lloyd's of London and the UK market more broadly, now faces major challenges arising from changes in the global landscape. These changes include technological advances in information distribution, regulatory demands for transparent capital allocation, growing competition from other mature markets, consolidation in the insurance and reinsurance markets and increasing global demand (and associated losses) from emerging markets. As a result, many UK companies are not only accessing global reinsurance business in the London market but also establishing subsidiaries in other markets, seeking to develop their understanding of emerging markets, and striving to develop relationships with an emerging group of global cedents that are changing the way that reinsurance is bought. However, they have few frameworks or evidence-based insights to inform them about the scope of global change or its potential implications for their own business models. The primary aim of this project is to co-produce and implement a knowledge exchange programme with UK insurers, reinsurers and brokers that will support them in developing greater competitiveness. A secondary aim is to ensure that UK-based players lead discussion of these important topics in the wider global reinsurance market.
We will meet these aims by exploiting a rich qualitative data set that has been collected by Professor Jarzabkowski and her research team since August 2009, in collaboration with an industry partner, the Insurance Intellectual Capital Initiative (IICI), on the reinsurance trading practices of the global reinsurance industry from the perspective of reinsurance sellers (reinsurance firms) and their intermediaries (broker firms). In 2011, this study was expanded, with support from the IICI, to also cover reinsurance buyers (insurance firms). This has resulted in a unique global data set of 414 interviews and 738 observations of reinsurance trading in 21 reinsurers and 3 broking firms in the main reinsurance placement markets of Lloyd's, Bermuda and Continental Europe), and 33 cedents in 17 countries, covering a range of mature (e.g. USA, Australia, Western and Northern Europe) and emerging markets (e.g. Central and Eastern Europe, Russia and India).
We will use the entire global data set to develop specific segmentation and diagnostic analyses for reinsurers, brokers and cedents that will inform UK industry participants about their own positions in the global industry. These analyses will then be transformed into accessible knowledge outputs for the UK industry through a series of ten Masterclasses, of which seven are tailored to one of the key industry participants - insurers, reinsurers and brokers - and three offer integrative perspectives on key topics of concern for the whole industry.
Each Masterclass will comprise i) a practical case paper of 10-12 pages with specific frameworks; ii) an interactive industry workshop to develop the material collaboratively into a practical and applied resource; iii) tailored exercises for industry participants; and iv) a 20-minute podcast with slides to accompany the case and exercises. These resources will then be published on a dedicated website to make them freely and permanently accessible to broader, global audiences and foster training and development in the industry.
Taken together, these Masterclasses form an integrated series that addresses a number of the main challenges facing the UK (re)insurance industry in the current global environment and will equip practitioners with a suite of tools and resources to tackle these challenges. The interactive format for their dissemination, outlined in the Impact Summary, will encourage reflection and debate on these key issues and enable UK industry practitioners to stay at the forefront of changes in the global industry.
We will meet these aims by exploiting a rich qualitative data set that has been collected by Professor Jarzabkowski and her research team since August 2009, in collaboration with an industry partner, the Insurance Intellectual Capital Initiative (IICI), on the reinsurance trading practices of the global reinsurance industry from the perspective of reinsurance sellers (reinsurance firms) and their intermediaries (broker firms). In 2011, this study was expanded, with support from the IICI, to also cover reinsurance buyers (insurance firms). This has resulted in a unique global data set of 414 interviews and 738 observations of reinsurance trading in 21 reinsurers and 3 broking firms in the main reinsurance placement markets of Lloyd's, Bermuda and Continental Europe), and 33 cedents in 17 countries, covering a range of mature (e.g. USA, Australia, Western and Northern Europe) and emerging markets (e.g. Central and Eastern Europe, Russia and India).
We will use the entire global data set to develop specific segmentation and diagnostic analyses for reinsurers, brokers and cedents that will inform UK industry participants about their own positions in the global industry. These analyses will then be transformed into accessible knowledge outputs for the UK industry through a series of ten Masterclasses, of which seven are tailored to one of the key industry participants - insurers, reinsurers and brokers - and three offer integrative perspectives on key topics of concern for the whole industry.
Each Masterclass will comprise i) a practical case paper of 10-12 pages with specific frameworks; ii) an interactive industry workshop to develop the material collaboratively into a practical and applied resource; iii) tailored exercises for industry participants; and iv) a 20-minute podcast with slides to accompany the case and exercises. These resources will then be published on a dedicated website to make them freely and permanently accessible to broader, global audiences and foster training and development in the industry.
Taken together, these Masterclasses form an integrated series that addresses a number of the main challenges facing the UK (re)insurance industry in the current global environment and will equip practitioners with a suite of tools and resources to tackle these challenges. The interactive format for their dissemination, outlined in the Impact Summary, will encourage reflection and debate on these key issues and enable UK industry practitioners to stay at the forefront of changes in the global industry.
Planned Impact
This proposal aims to maximize the impact of two ESRC-funded research projects (RES-173-27-0163; RES-186-27-0020) to strengthen the position of the UK reinsurance industry against regulatory and competitive challenges in the global marketplace. To do so, we will create ten case-based Masterclasses and related online materials (also see Pathways to impact) that address four groups of beneficiaries: industry participants, reinsurance educators, regulators and policy makers in reinsurance and financial services, and management academics. Industry participants, including reinsurers, cedents, and brokers, benefit in three ways from Masterclasses addressing their position in a changing industry:
1. Defending turf: Tailored diagnostics and frameworks allow reinsurers to evaluate their current organizational structures and processes against alternatives in other markets that would not normally be visible to them. Brokers benefit from tools for client segmentation and cedents from frameworks for analysing their reinsurance buying needs and potential growth trajectories. Jointly, all three benefit from an improved understanding of how brokers can add value to the trading relationships between reinsurers and cedents. Masterclasses also provide space for reflection and fora for exchange, allowing practitioners to learn from each other, not just the research team. They can diagnose current shortcomings, develop strategic responses, and defend their local 'turf' against foreign competition.
2. Reaching out: Using Masterclasses to share fine-grained data on trading practices and cedent expectations in emerging markets will improve UK reinsurers' and brokers' chances of penetrating those markets. Asia in particular is both a key target for growth and a source of growing competition. By appreciating cultural variations and alternative trading practices, domestic players can identify both, current strengths and shortcomings to tailor their efforts and grasp emergent opportunities in a challenging environment.
3. Leading change: By sharing our knowledge outputs online and publicizing them in presentations and press releases, we support UK-based players in positioning themselves as thought leaders in the global reinsurance market. Combined with the established reputation of Lloyd's, the ability to set the agenda and lead discussions in ways that benefit local players, will strengthen the UK as marketplace for reinsurance and financial services more generally.
Educators will benefit from our knowledge outputs as a capacity building resource for business school education, professional accreditation and in-house training, Having invited Professor Jarzabkowski twice to present preliminary findings, the Chartered Insurance Institute (CII), which trains and accredits insurance professionals is interested in making our materials widely and permanently available to address the training needs of practitioners during a period of technological, regulatory and analytic change.
Regulators, policy-makers and industry bodies in reinsurance and the wider financial services sector will benefit from our knowledge outputs. Based on unique insights into decision-making processes that are usually invisible to outsiders, they gain a deeper understanding of the industry that they regulate and represent. , enhancing to represent and position the UK in the changing global reinsurance landscape. As technology-assisted risk modelling is pervasive in many financial products, a deeper understanding of how models interact with expert judgment is timely and relevant beyond reinsurance.
Management academics and the early career researchers on this project in particular will benefit from new skills in academic-practitioner knowledge exchange. Both, the substantive knowledge co-produced with practitioners and the skill of engaging practitioners, will be shared at academic conferences and professional development workshops, as well as in top-tier publications.
1. Defending turf: Tailored diagnostics and frameworks allow reinsurers to evaluate their current organizational structures and processes against alternatives in other markets that would not normally be visible to them. Brokers benefit from tools for client segmentation and cedents from frameworks for analysing their reinsurance buying needs and potential growth trajectories. Jointly, all three benefit from an improved understanding of how brokers can add value to the trading relationships between reinsurers and cedents. Masterclasses also provide space for reflection and fora for exchange, allowing practitioners to learn from each other, not just the research team. They can diagnose current shortcomings, develop strategic responses, and defend their local 'turf' against foreign competition.
2. Reaching out: Using Masterclasses to share fine-grained data on trading practices and cedent expectations in emerging markets will improve UK reinsurers' and brokers' chances of penetrating those markets. Asia in particular is both a key target for growth and a source of growing competition. By appreciating cultural variations and alternative trading practices, domestic players can identify both, current strengths and shortcomings to tailor their efforts and grasp emergent opportunities in a challenging environment.
3. Leading change: By sharing our knowledge outputs online and publicizing them in presentations and press releases, we support UK-based players in positioning themselves as thought leaders in the global reinsurance market. Combined with the established reputation of Lloyd's, the ability to set the agenda and lead discussions in ways that benefit local players, will strengthen the UK as marketplace for reinsurance and financial services more generally.
Educators will benefit from our knowledge outputs as a capacity building resource for business school education, professional accreditation and in-house training, Having invited Professor Jarzabkowski twice to present preliminary findings, the Chartered Insurance Institute (CII), which trains and accredits insurance professionals is interested in making our materials widely and permanently available to address the training needs of practitioners during a period of technological, regulatory and analytic change.
Regulators, policy-makers and industry bodies in reinsurance and the wider financial services sector will benefit from our knowledge outputs. Based on unique insights into decision-making processes that are usually invisible to outsiders, they gain a deeper understanding of the industry that they regulate and represent. , enhancing to represent and position the UK in the changing global reinsurance landscape. As technology-assisted risk modelling is pervasive in many financial products, a deeper understanding of how models interact with expert judgment is timely and relevant beyond reinsurance.
Management academics and the early career researchers on this project in particular will benefit from new skills in academic-practitioner knowledge exchange. Both, the substantive knowledge co-produced with practitioners and the skill of engaging practitioners, will be shared at academic conferences and professional development workshops, as well as in top-tier publications.
Organisations
Publications
Bednarek R
(2016)
Dynamic Client Portfolios as Sources of Ambidexterity: Exploration and Exploitation Within and Across Client Relationships
in Long Range Planning
Jarzabkowski P
(2015)
Constructing Spaces for Strategic Work: A Multimodal Perspective
in British Journal of Management
Jarzabkowski P
(2014)
Changing competitive dynamics in the reinsurance industry: Implications of changes in buyer behaviour for reinsurance executives
in Journal of Financial Perspectives
Smets M
(2015)
Reinsurance Trading in Lloyd's of London: Balancing Conflicting-yet-Complementary Logics in Practice
in Academy of Management Journal
| Description | London is a primary financial centre for buying and selling reinsurance. However, as a mature market, it faces new challenges arising from technological advances, growing competition, increasing consolidation and growing demand from emerging markets. This project set out to co-produce and implement a knowledge exchange programme to support UK insurers, reinsurers and brokers in responding to these global challenges and opportunities. Leveraging an extensive global reinsurance dataset, our project examined critical trends in the industry and used them to build evidence-based frameworks that these stakeholders can use to diagnose their current strategic positions, consider specific types of differentiation, and build competitive advantage. We developed a series of seven Masterclasses that UK incumbents can use to respond to competitive challenges by, for instance, generating co-operative strategies (Masterclasses 1). We also illustrated how greater competitive rivalry is pushing reinsurers towards new strategic positions, creating five distinct strategic groups in the global reinsurance industry (Masterclass 3). Such insights enable UK reinsurers, and other industry players, to analyse their strategic positions vis-à-vis competitor groups and improve their competitiveness by, for instance, moving towards more lucrative strategic positions. Some research outputs focussed specifically on reinsurers. For example, we identified three critical capabilities that reinsurers must develop in order to coordinate more diverse streams of knowledge (Masterclass 4). The frameworks we developed explain specifically how capabilities can be combined to underpin strategies and build operational excellence. We also developed frameworks to help UK reinsurers manage an increasingly diverse client base, so that valuable time and resources invested in client relationship management support the business strategy; either directly, in the form of profitable business deals, or indirectly, in the form of access to information (Masterclass 5). We also generated new knowledge about the primary insurance market. In particular, we showed the implications of increasing insurance industry consolidation and maturity upon changing buying patterns and the development of a new class of reinsurance products (Masterclass 2). Using these insights, we specified those steps reinsurers must take in order to continue attracting insurers' premium. We also generated important insights for brokerage firms. For example, we show how consolidation and changing competitive dynamics are eroding the traditional source of broker revenue; their placement service (Masterclass 6). Our evidence-based framework reveals how UK brokers can respond to the new global landscape by, for example, consolidating with buyers, adopting fee-for-service models or developing collaborations with new market players. Finally, we offered all industry participants a means to address the changing landscape through scenario planning (Masterclass 7). In particular, we identified key areas of uncertainty in the reinsurance industry, teased out possible implications and provided managers with a step-by-step guide on how to build scenarios, stress-test strategies and plan for the future. While our primary focus was on co-producing practical outputs with partners, the project also generated new academic insights. For example, an academic paper explaining how practitioners balance community and market logics is accepted at the leading Academy of Management Journal, another paper is accepted at British Journal of Management and we also have two other academic papers under review on various aspects of risk trading. |
| Exploitation Route | Lloyd's of London plays a critical role in enabling society to alleviate risk, poverty and hardship following disasters and adverse events. Economically, the UK reinsurance industry generates thousands of jobs and is widely acknowledged to be of great importance to the UK economy. The evidence-based frameworks we have developed are already assisting UK insurers, reinsurers and brokers in asserting their position in a changing competitive and regulatory landscape. They offer (re)insurance and broking companies a key capacity-building resource they can use to evaluate current structures and processes, build awareness, develop new competencies and strengthen competitive positions. For example, reinsurers can evaluate their capacity for analysis, their ability to underwrite different lines of business, and their approach to managing client relationships in order to position themselves vis-à-vis global peers. Likewise, primary insurers can evaluate their capital efficiency, their coordination of reinsurance buying and their product bundling strategies to position themselves among global peers. Finally, brokerage firms can use the frameworks to match their knowledge bases and technical skills to the demands of the UK reinsurance market . In addition to helping UK firms, the knowledge outputs can also be used by in-house training programmes, business schools and professional bodies to develop future generations of reinsurance professionals. We anticipate, for example, that our outputs will be used for teaching MBA and MSc students, giving them insight into the financial reinsurance industry. Indeed, some of our early materials are already required reading on some University Courses (see http://www.wlu.ca/documents/56739/429_W13.pdf). The project was designed to promote knowledge exchange with the UK reinsurance industry. We have been very proactive in ensuring that our findings obtain maximum impact. For example, our Masterclasses were designed to be used independently by stakeholders for internal professional development and/or teaching purposes. This included, for example, incorporating study questions, bibliographies, exercises, and diagnostic tools. We have actively demonstrated the value of these outputs at two x 3-day professional workshops in May and October 2013, which targeted senior middle managers; the people most responsible for enacting change in their firms. We have also distributed outputs widely, sending them to a distribution list of over 800 practitioners and making them available with professional societies like the Insurance Institute of London and the Worshipful Company of Insurers. Finally, we have developed a dedicated online resource to perpetuate knowledge exchange by making material continuously and freely available: http://www.cassknowledge.com/research/author/paula-jarzabkowski To ensure maximum potential impact we have, and will continue, to monitor take-up, record usage rates and engage in adhoc developmental work. We know, for example, our collective outputs have been viewed over 20,000 times since May 2013 and a healthily bounce rate demonstrates that visitors have found the Masterclasses interesting and have continued to look further into the site. The Masterclass series has also been reported in the insurance media: http://www.bermudareinsurancemagazine.com/news/bundled-risk-and-convergence-capital-changing-market and our outputs are also available on the corporate intranets of many major firms. We will continue to promote the materials over the coming year in both professional and educational institutions. We will raise the profile of the research in academic circles by presenting work at international conferences and furthering academic papers that are under review. |
| Sectors | Financial Services, and Management Consultancy |
| URL | http://www.cassknowledge.com/research/author/paula-jarzabkowski |
| Description | This research has had wide-ranging impact from its specific use by reinsurance professionals, to changes in the strategies of firms, to wider industry implications, as well as having application outside the reinsurance industry through educational programmes, as we explain below. All evidence relating to the specific outputs through which this impact was achieved, such as media articles, presentations, or publications, is provided in the relevant sections of Researchfish. First, we developed a series of 7 Masterclasses on Strategic Thinking for the Global Reinsurance Industry, each of which addresses a key topic of competitive change for the industry, developing specific models, frameworks and case material that managers can apply to their own context. These Masterclasses focus on the needs of the three main stakeholders in the industry, the buyers (insurance companies), the suppliers of capital (reinsurance companies) and the intermediaries that enable capital flow (the broking companies). Second, we both emailed these Masterclasses to our distribution list of 800 reinsurance industry participants and also made them available on a dedicated website, where they can be downloaded for free. This website has been enormously successful with over 20,000 views of our material as of October 2014. Third, we ran a dedicated workshop for a cohort of middle managers targeted for leadership within their companies, attracting participants from leading buyers, suppliers and broking companies. This workshop ran over six sessions in May and October 2013, training these key professionals in the use of our Masterclasses and their frameworks, so enabling them to use our material in their own workplaces, and with their colleagues, as well as giving participants the opportunity to understand the industry from each other's different perspectives. As one of the participants noted, requesting electronic versions of the material to disseminate to her colleagues: "I have really enjoyed your classes and the material you have written is excellent and very insightful". Fourth, our results, our engagement with industry and the subsequent development of these Masterclasses generated their own momentum, leading to 16 media articles about the findings from our research in the trade and mainstream media from the start of the grant in September 2012 to October 2014. Fifth, based on the interest generated by our research, we ran a senior executive ThinkTank session at Cass Business School in October 2013 bringing together a group of CEOs and Chairmen from the insurance, reinsurance and broking industry, as well as from the regulatory authority, in order to brainstorm about future avenues for this industry as it is undergoing enormous change. Based on this workshop, we provided a confidential report to the participants entitled Reinsurance 2020. Sixth, we were invited to give five industry conference presentations on the back of our research, which were delivered in Continental Europe, London, Bermuda and the USA. The audiences for these conference presentations were diverse, ranging from some of the largest insurers and reinsurers in the world to small cooperatives and mutuals, illustrating the scope of our findings. Seventh, the results and Masterclasses were taken up and used by specific organizations in a number of ways from hosting the material on their own corporate intranets and sending the material to their clients through links in their corporate newsletters, to specific and targeted application in their within-firm strategies. For example, leading reinsurer SCOR used the results in their strategic planning documents in September 2013, while leading companies followed some of our predicted trends and suggestions, as evidenced by Allianz Re's CEO Amer Ahmed's recent citing of one of our report's findings on consolidation and centralization, stating, "Allianz, among other global insurance companies, has done just that by consolidating and centralizing its reinsurance buying" (Global Insurance Intelligence, 8/09/2014). Eighth, the work was picked up and endorsed more widely in the industry. For example, it featured on industry websites such as Insurance Works, a Canadian insurance platform, and was included in the online resources as well as the libraries of educational bodies, such as the Insurance Institute of London, which provides accreditation and ongoing professional development for their membership of over 15,000 insurance industry professionals. At the same time, leading industry figures endorsed the results, particularly those on the potential for systemic risk, using them as a caution and call-to-arms for the industry, as evidenced by this press statement by the CEO of Hiscox Group, Bronek Masojada: "We've seen in the banking sector what happens when traders become too detached from the risk they take on. This report sends out a clear message to the reinsurance sector that we cannot allow the increasing bundling of risk and dependence on models to cloud the picture when it comes to evaluating the real risk being underwritten" (Insurance newsnet, 20/09/2012). Ninth, we ensured our work would have impact outside the specific insurance and reinsurance industry by publishing a practitioner article that is accessible to the wider finance industry in the Journal of Financial Perspectives. This article was so well received that we were contacted by the editor with a request to translate it into Chinese, as follows: "We have had a request to translate your paper into Chinese, due to the demand from executives for your paper. Can I ask whether we can be permitted to do so?" Tenth, as the frameworks and models we developed were applicable to other industries, we incorporated them into our teaching of strategic management at our respective universities. We now use specific aspects of these Masterclasses at undergraduate, MBA and Executive education level. For example, Masterclass 7 offered a means to address the changing landscape through scenario planning. In particular, we identified key areas of uncertainty in the reinsurance industry, teased out possible implications and provided managers with a step-by-step guide on how to build scenarios, stress-test strategies and plan for the future. This framework has now been incorporated into Aston's MBA programme and used to help students develop knowledge about reinsurance industry and, more broadly, teach them how to effectively build scenarios and deal with uncertain industry contexts. Eleventh, the substantive impact of the programme of research is further evidenced in its award of the inaugural ESRC Outstanding Impact on Business Prize 2013. |
| First Year Of Impact | 2012 |
| Sector | Education,Financial Services, and Management Consultancy |
| Impact Types | Societal,Economic,Policy & public services |
| Description | A New Risk for Insurers and Reinsurers: Excessive Modeling (Global Association of Risk Professionals-GARP media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | Are you building another Titanic (Capital Modelling Seminar, Institute and Faculty of Actuaries - Keynote Speaker) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Some 80 insurance industry and risk professionals who were accredited members of the institute and faculty of actuaries came together for a professional development workshop on the topic of capital modeling for the insurance industry. The aim was to examine key issues and new developments which these risk professional could then take back to their workplaces. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Avoid seduction by complex financial models, reinsurers urged (Financial Services Knowledge Transfer Network media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Results and impacts of this activity are merged to a single answer below Prompted invitation to speak at the Intermediaries and Reinsurance Underwriters' Association in Bermuda as evidenced by the reference to this article during initial contact |
| Year(s) Of Engagement Activity | 2013 |
| Description | Be a better reinsurer: How to align structure, knowledge and roles for operational excellence (Masterclass) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The publication of this (and the other) Masterclasses sparked a great deal of interest, as evidenced by the volume of traffic visiting the website. In addition, we received e-mails and requests from industry stakeholders to run workshops on how to use and apply these frameworks. This result prompted us to design and deliver a bespoke course that was delivered over six sessions. This course was very well received. After the sessions the participants spoke about the insightfulness of the frameworks and how they planned to use them in their own organisations. An illustration of this is contained in the narrative. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Broker sidecar facilities impacting profitability and judgment (Bermuda Re + ILS media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Results and impacts of this activity are merged to a single answer below Sparked interest among other trade press outlets, as evidenced by journalists' references to this article when asking for new media engagements |
| Year(s) Of Engagement Activity | |
| Description | Bundled risk and convergence capital changing market (Bermuda Re + ILS media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Results and impacts of this activity are merged to a single answer below Established relationship with reinsurance journalist as evidenced by repeat coverage in autumn 2013 and spring 2014 |
| Year(s) Of Engagement Activity | 2014 |
| Description | Bundling poses systemic risk for reinsurance, says research linked to Lloyd's (Compliance Complete media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Results and impacts of this activity are merged to a single answer below Increased interest in the research outputs as reflected in online traffic to the research webpage, accumulating to 20,000 clicks to date. |
| Year(s) Of Engagement Activity | 2013 |
| Description | Cass Business Professor Describes Evolving Trading Risk for Global Reinsurance Sector (AM Best media) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | Catastrophe bonds pioneer hits back at book (Alistair Gray. Financial Times) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | Catastrophe deals threaten reinsurance sector collapse (Alistair Gray. Financial Times) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | Catastrophes naturelles : des couvertures d'assurance aussi risquées que les Subprime (L'Argus de l'Assurance media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | Charting change in the global reinsurance landscape: Strategies for differentiation (Keynote presentation for Meeting of Reinsurance Officials at the International Co-operative and Mutual Insurance Federation) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | This talk sparked questions and discussion about how mutual and cooperatives can remain competitive and ensure stable supplies of capital, given that the industry is increasingly differentiating to favour large, multinational players. After my presentation, I collected several business cards from practitioners who wished to become part of the distribution list for the results from our research, was sent thanks by the convenors who informed me that my presentation had scored 4.3 out of 5, which was above the average of 4.1 and also in the top range of scores for the conference. In addition, I spoke with members of smaller Latin American cooperatives about their risk transfer needs, which are now forming the basis of future research topics I am pursuing. |
| Year(s) Of Engagement Activity | |
| Description | Compacts of God: The market for risk is changing (The Economist) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | Convergence of Capital Markets and Reinsurance (International Bar Association conference - Keynote Speaker) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | An international group of some 35 legal professionals specialising in the insurance industry, including QC and lawyers, gathered for a keynote presentation on the implications of my book for reinsurance industry convergence and the potential payment of claims. The presentation was supplemented by an industry panel discussion and a lively debate and Q&A about how to address the challenges raised. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Could reinsurers' bundling of risks lead to a financial debacle? (Property Casualty 360 media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Results and impacts of this activity are merged to a single answer below Increased interest in the research outputs as reflected in online traffic to the research webpage, accumulating to 20,000 clicks to date |
| Year(s) Of Engagement Activity | 2013 |
| Description | Course of a series of 6 sessions for middle-level executives |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The executives at these workshops were taken through structured exercises and gained new insights about competitive challenges and potential strategic responses (e.g. generating co-operative strategies, building operational excellence, managing an increasingly diverse client base). As a consequence of these workshops, executives said they gained new levels of awareness. They also spoke about the insightfulness of the frameworks and how they could help them deal with the challenges ahead. Since these workshops, executives from different organizations have contacted us about working with them on an individual basis. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Does size matter? The impact of super-cedents and mega-risks on reinsurance buying and reinsurance products (Keynote speaker at the Insurance Institute of London, Lloyd's Old Library) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | This talk made reinsurance participants in the London market aware of the profound and dramatic nature of change in their industry, and aware that the Lloyd's of London market, as a series of small syndicates, is somewhat threatened by the increasing consolidation in the industry, which demands larger players with more capital backing. After my presentation, the podcast and slides were made available on the Insurance Institute of London website, being accessible to their members and the wider global Chartered Institute of Insurers, which is the key professional accreditation body. It was very influential, attracting many emails, including a note from a leading multinational insurance firm about their own strategies and concluding "thank you for sharing your presentation, it was extremely helpful". |
| Year(s) Of Engagement Activity | 2014 |
| Description | Don't Lose Perspective in Reinsuring "Acts of God" (AM Best TV) |
| Form Of Engagement Activity | A broadcast e.g. TV/radio/film/podcast (other than news/press) |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | Fit for purpose? How to tailor reinsurance products to insurance industry lifecycles (Masterclass) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The publication of this (and the other) Masterclasses sparked a great deal of interest, as evidenced by the volume of traffic visiting the website. In addition, we received e-mails and requests from industry stakeholders to run workshops on how to use and apply these frameworks. This result prompted us to design and deliver a bespoke course that was delivered over six sessions. This course was very well received. After the sessions the participants spoke about the insightfulness of the frameworks and how they planned to use them in their own organisations. An illustration of this is contained in the narrative. |
| Year(s) Of Engagement Activity | |
| Description | Get ready for the MC dating game: How to find that perfect reinsurer type (Insurance Day media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Results and impacts of this activity are merged to a single answer below Sparked interest among other trade press outlets, as evidenced by journalists' references to this article when asking for new media engagements |
| Year(s) Of Engagement Activity | 2013 |
| Description | ILS Products Are Changing Reinsurance Industry Norms: 'Acts of God' Author (Insurance Journal media) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | Imagining the future: Stay ahead in the reinsurance game through scenario planning (Masterclass) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | In addition to the above, this Masterclass has featured heavily in teaching. Students have learnt about how to build scenarios, stress-test strategies and plan for the future. When delivering this material to MBA students, they used the material to build scenarios and discuss the management of uncertainty and risk. The students said they found the framework "very useful" and easy to understand. A number of them discussed how they could use the framework to analyse their own industries and plan for the future. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Increased trend for bundling risk exposes reinsurers to surprise financial shocks (Insurance News media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Results and impacts of this activity are merged to a single answer below Increased interest in the research outputs as reflected in online traffic to the research webpage, accumulating to 20,000 clicks to date |
| Year(s) Of Engagement Activity | 2013 |
| Description | Insuring the insurers (The Business, Australian Broadcasting Corporation TV) |
| Form Of Engagement Activity | A broadcast e.g. TV/radio/film/podcast (other than news/press) |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | Intelligent matchmaking: How to maximize value from broking (Masterclass) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The publication of this (and the other) Masterclasses sparked a great deal of interest, as evidenced by the volume of traffic visiting the website. In addition, we received e-mails and requests from in This result prompted us to design and deliver a bespoke course that was delivered over six sessions. This course was very well received. After the sessions the participants spoke about the insightfulness of the frameworks and how they planned to use them in their own organisations. An illustration of this is contained in the narrative. dustry stakeholders to run workshops on how to use and apply these frameworks. This result prompted us to design and deliver a bespoke course that was delivered over six sessions. This course was very well received. After the sessions the participants spoke about the insightfulness of the frameworks and how they planned to use them in their own organisations. An illustration of this is contained in the narrative. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Is the reinsurance industry at risk of collapse? (Bloomberg Surveillance. Bloomberg TV) |
| Form Of Engagement Activity | A broadcast e.g. TV/radio/film/podcast (other than news/press) |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | It rained for 40 days and nights: Reinsurance and the art of pricing Noah's ark (Keynote presentation as principal guest at the Annual Lunch of the Worshipful Company of Insurers) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | This talk made members of the London market aware of the potential systemic risk involved in more complex forms of bundling risk and reliance on modeling as a substitute for judgment of risk. After my presentation, there was considerable interest in the Masterclasses that we told participants we would be developing. As a result, we added members to our distribution list and some of these members sent their top middle managers to the workshops we later ran from these Masterclasses |
| Year(s) Of Engagement Activity | |
| Description | Making a Market for Acts of God (Insurance Institute of London, Lloyd's Old Library - Keynote Speaker) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Some 100 professional members of the Lloyd's insurance and reinsurance industry came to a presentation of professors Jarzabkowski new book on the challenges facing the reinsurance industry going forward, and some of its potential pitfalls. The presentation was chaired by Bronek Masojada, Group CEO of Hiscox, followed by a lunch with a number of high profile industry executives including the CEO of Lloyd's, Inga Beale, at which the implications of the book for firms and the industry were discussed. |
| Year(s) Of Engagement Activity | 2015 |
| Description | New capital, bundling, creating systemic risk (Reactions media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | Nightmare on Lime Street (Lombard column. Financial Times) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | Nous assistons à une déconnexion entre les risques et leurs perceptions (L'Argus de l'Assurance media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | Re-think Reinsurance: How to shape your future through a strategic understanding of global market forces (Masterclass) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The publication of this (and the other) Masterclasses sparked a great deal of interest, as evidenced by the volume of traffic visiting the website. In addition, we received e-mails and requests from industry stakeholders to run workshops on how to use and apply these frameworks. This result prompted us to design and deliver a bespoke course that was delivered over six sessions. This course was very well received. After the sessions the participants spoke about the insightfulness of the frameworks and how they planned to use them in their own organisations. An illustration of this is contained in the narrative. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Reinsurance Market's Evolution Could Affect its Stability: 'Acts of God' Author (Insurance Journal media) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | Reinsurance Market's Recent Evolution Could Have Implications on Its Stability (Carrier Management media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | Reinsurance and the future of large-scale risk transfer (Group of International Insurance Centre Supervisors - Keynote Speaker) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The 16 key insurance industry regulators from each off shore financial jurisdiction - e.g. Cayman, Bermuda, Guernsey, etc - met for a presentation of the findings from my book, followed by Q&A and a discussion on the regulatory implications arising from my findings, particularly indications of potential for systemic risk and regulating securitized reinsurance markets. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Reinsurance brokers 'not getting their cut;' Should charge fees for services (Property Casualty 360 media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Results and impacts of this activity are merged to a single answer below 'Fee for service' offerings as suggested in this article are now a significant industry trend among major broking houses. |
| Year(s) Of Engagement Activity | 2013 |
| Description | Reinsurance buying: Changing appetites (Bermuda Re media-Spring edition) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Results and impacts of this activity are merged to a single answer below Increased interest in the research outputs as reflected in online traffic to the research webpage, accumulating to 20,000 clicks to date. |
| Year(s) Of Engagement Activity | |
| Description | Reinsurance market (Radio 2GB) |
| Form Of Engagement Activity | A broadcast e.g. TV/radio/film/podcast (other than news/press) |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | Reinsurance risk bundling has dangers (Reactions media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Results and impacts of this activity are merged to a single answer below Increased interest in the research outputs as reflected in online traffic to the research webpage, accumulating to 20,000 clicks to date |
| Year(s) Of Engagement Activity | 2014 |
| Description | Reinsurance risks banking style meltdown (Euro2Day media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | Reinsurers headed for catastrophe say academics (Insurance Asia News media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | • Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | Reinsurers urged to retain risk focus (Continuity Insurance and Cover media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Results and impacts of this activity are merged to a single answer below Increased interest in the research outputs as reflected in online traffic to the research webpage, accumulating to 20,000 clicks to date. |
| Year(s) Of Engagement Activity | 2013 |
| Description | Reinsurers warned against risk bundling, urged to keep focus on primary risk (Artemis media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Results and impacts of this activity are merged to a single answer below Increased interest in the research outputs as reflected in online traffic to the research webpage, accumulating to 20,000 clicks to date. |
| Year(s) Of Engagement Activity | 2013 |
| Description | Risk bundling leaves reinsurers exposed (Insurance Insider media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Results and impacts of this activity are merged to a single answer below Increased interest in the research outputs as reflected in online traffic to the research webpage, accumulating to 20,000 clicks to date. |
| Year(s) Of Engagement Activity | 2013 |
| Description | Rules alone will not stop bad behavior (FT media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Results and impacts of this activity are merged to a single answer below In response to this article, the model underpinning this article has been incorporated into Post-graduate as well as Executive Education programmes at Said Business School, University of Oxford. |
| Year(s) Of Engagement Activity | |
| Description | Strategic Think Tank for Industry Leaders |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | This think tank raised some important high-level points that can be used as an overarching frame for firm-specific discussions and strategic solutions. industry leaders benefited from facilitated interaction with their peers and dedicated executive briefings, as they discussed the critical issues impacting the industry and their own business in a structured manner conducive to debate, problem solving and forecasting. As a consequence of this think tank, senior executives gained new levels of awareness of the industry challenges, demands and opportunities involved in developing a robust market for reinsurance. They also spoke about the insightfulness of the presented models and how they could help them deal with the key industry issues. Since these workshops, some of the senior executives that participated in the think tank have contacted us about working with them on developing and delivering tailored training workshops for their firms. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Strategic reinsurance relationships: How to evaluate information and build trust (Masterclass) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The publication of this (and the other) Masterclasses sparked a great deal of interest, as evidenced by the volume of traffic visiting the website. In addition, we received e-mails and requests from industry stakeholders to run workshops on how to use and apply these frameworks. This result prompted us to design and deliver a bespoke course that was delivered over six sessions. This course was very well received. After the sessions the participants spoke about the insightfulness of the frameworks and how they planned to use them in their own organisations. An illustration of this is contained in the narrative. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Super cedents' force reinsurers into caution (Post Online media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Research work appeared in the media and generated follow up discussion Prompted invitation to speak at the International Cooperative and Mutual Insurance Federation Conference as evidenced by the reference to this article during initial contact |
| Year(s) Of Engagement Activity | 2013 |
| Description | The Reinsurance Market in the Face of Change (Digital Actuaries media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | The age of fierce competition in reinsurance (Keynote presentation at the NRV, Dutch Reinsurance Association) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | This talk sparked questions and discussion about more effective ways to purchase reinsurance by insurance participants, and ways to cope with rising competition by reinsurance participants. After my presentation, I collected some 25 business cards from practitioners who wished to become part of the distribution list for the results from our research as well as emailed thanks from the convenors for the high interest shown in the material I presented. |
| Year(s) Of Engagement Activity | |
| Description | The challenges ahead for reinsurance broking (Reactions media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Results and impacts of this activity are merged to a single answer below Prompted invitation to deliver the keynote presentation at the Dutch reinsurance association, as evidenced by the reference to this article during initial contact |
| Year(s) Of Engagement Activity | 2013 |
| Description | The doublethink insurance club (Gillian Tett. Financial Times) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | The future for general insurance in the UK: regulation, competition and innovation (Westminster Business Forum - Keynote Speaker) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Some 100 people from industry, including policymakers/regulators, attended a series of presentations on the future of the U.K. Insurance industry, chaired by the shadow treasurer. The presentations sparked debate on key issues going forward and all presentations, including those of professor Jarzabkowski were fully transcribed and made available for participants and wider members of the community afterwards. |
| Year(s) Of Engagement Activity | 2015 |
| Description | Today's reinsurance firms should not forget mistakes of the past, says expert (Out-Law media) |
| Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | Trends to bundle risk: The impact of super-cedents and mega-risks on reinsurance buying and reinsurance products (Keynote speaker at the Intermediaries and Reinsurance Underwriters Association Conference) |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | This talk made reinsurance participants aware of the profound and dramatic nature of change in their industry, as evidenced by the discussion and questions. Indeed, one participant later noted that he now realised how much the changes he was experiencing in his business were actually linked to these wider industry changes. After my presentation, I held talks with the Intermediaries and Reinsurance Underwriters Association about their training and educational programmes which resulted in us giving them full access to the Masterclasses we have developed in order that they may share them with their members. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Tribal warfare, Fiona Robertson (Trading Risk media) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | Warning over reinsurance (BBC Radio 4) |
| Form Of Engagement Activity | A broadcast e.g. TV/radio/film/podcast (other than news/press) |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Results and impacts of this activity are merged to a single answer below |
| Year(s) Of Engagement Activity | 2015 |
| Description | Winning the game: How to identify reinsurance rivals and spot growth opportunities (Masterclass) |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The publication of this (and the other) Masterclasses sparked a great deal of interest, as evidenced by the volume of traffic visiting the website. In addition, we received e-mails and requests from industry stakeholders to run workshops on how to use and apply these frameworks. This result prompted us to design and deliver a bespoke course that was delivered over six sessions. This course was very well received. After the sessions the participants spoke about the insightfulness of the frameworks and how they planned to use them in their own organisations. An illustration of this is contained in the narrative. |
| Year(s) Of Engagement Activity | 2014 |