Paul Murray

https://lnkd.in/e8NWp32p Prophetic 2025 forecast for the Insurance industry: "Climate change will undermine insurers’ calculations. Yet Swiss Re, a big insurer, predicts the industry will grow rapidly, with life-insurance premiums reaching $3.1trn and non-life premiums $4.8trn. Environmental-disclosure rules will tighten in many countries; EU companies will issue their first sustainability reports. But an American backlash against “sustainable” investing will spread."

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Last week we hosted our annual Hannover Re | Curo Health seminar, discussing modern obesity medications GLP-1 and GLP-1/GIP receptor agonists. I handled the first talk looking at some basic physiology around metabolism, insulin resistance, a deep dive of the literature regarding these medications and how we can underwrite applicants using these medications. Richard Botha from Curo Health gave some great insights on the synergistic role that improved diet and exercise play in enhancing the efficacy of these medications, and improving health.   I’ve been a long-time advocate for lifestyle modifications as a key to health, and was suspicious, even biased against these modern obesity medications like semaglutide and Tirzepatide, because the rhetoric has for a long time been around how people should just try harder to be healthier. In our modern world, particularly in a broken food/nutrition system this is extremely difficult and for some people, impossible. Over the last 6 months, reviewing the growing body of medical literature has challenged my perspective.   In my view, the evidence is clear that these medications are remarkably effective for weight loss, but what is more compelling is that their impact is magnified when combined with exercise and calorie restriction, as demonstrated in the study protocols. This synergistic effect is undeniable, highlighting that medication and lifestyle are not opposing approaches but powerful partners in addressing obesity, and the associated complications.   On a personal note, re-evaluating my own bias has reinforced a key lesson, staying open to new evidence and challenging the status quo is critical in medicine and life. It’s not about choosing one path over another but finding ways to integrate the best of both.   #ObesityTreatment #Semaglutide #Tirzepatide #LifestyleMedicine #EvidenceBasedMedicine #ExerciseAndHealth #MedicalInnovation #HealthcareLeadership #HealthAndWellness #Lifeinsurance

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Aon published its annual German market report ahead of the GVNW symposium and any GVNW member in need of a boost following the association’s usually boisterous annual Bavarian evening should take a look over breakfast. Overall, the news is positive for German risk and insurance managers, particularly in lines that were most difficult at the height of the recent hard market – cyber and D&O, says Aon. 👉https://ow.ly/TQ6w50TgybM Aon GVNW - Gesamtverband der versicherungsnehmenden Wirtschaft e.V. #InsuranceManagers #GermanRiskManagers

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Sharing some thoughts on antimicrobial resistance (AMR) ahead of the United Nations meeting touching on AMR, this week in New York . As we continue to navigate the lingering effects of Covid-19, we are faced with yet another health crisis in the form of AMR. Described by the World Health Organization as "the silent pandemic", AMR occurs when bacteria, viruses, fungi, and parasites evolve over time and become resistant to the medicines that were once effective in treating them. Read about the drivers of this evolving risk and why global cooperation is fundamental in combating AMR to prevent serious consequences to healthcare systems worldwide

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Swiss Re Life Guide Scout launches today! The future of underwriting is here.

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Q1'2024 Financials Published Yesterday #SwissRe published its Financials for the first quarter of 2024 - for the first time under the new IRFS regime. With a #NetIncome of USD1.1bn we are nicely on track to reach the full year target of USD3.6bn. Our balance sheet has strengthened even further with #ShareholderEquity of more than USD21bn and a SST ratio of above 300%. With its strong AA- Rating SwissRe Group remains a solid and reliable partner for our important clients in the #CreditInsurance space. 💪 https://lnkd.in/eBcaTx46 #SwissReCorporateSolutions #SwissReGermany #ProjectFinance #PRI #TradeCredit

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Life Guide Scout is launched to our clients today.  A new generative AI feature to make your underwriting even more efficient. #lifeguide #lifeguidescout #underwritingmanual #generativeai #ai

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Social inflation is a phenomenon observed since the 1980s, where insured liability claims increase faster than can be explained by economic factors, such as wages or core consumer price inflation. It is driven by a range of socioeconomic, legislative and litigation trends, such as an increased tendency to settle compensation claims in court and is most pronounced in the USA, where tort law is based on precedent and court cases are adjudicated by juries. In addition, third-party litigation funding (TPLF), the process by which litigants and law firms can fund their litigation with the help of a third-party investor, facilitates access to trial, and the legal system allows for the payment of large sums of compensation, particularly for bodily injury claims. According to Swiss Re's Sigma Institute, in 2023 alone, there were 27 court cases awarding compensation of more than USD $100 million each. Hence, unlike economic inflation, there is no sign of social inflation abating. Litigation costs are rising and are now the key driver of liability claims. Based on current trends, Swiss Re predicts the impact of claims growth could offset some of the industry's earnings benefits in casualty insurance resulting from higher interest rates in one to two years. In response, capacity available to global businesses has significantly declined, while rate increases have not kept pace with loss trends. While social inflation is primarily a phenomenon in the USA, there are signs it is impacting other countries with common-law systems such as the UK, Australia and Canada, where tort law is based on precedent. Tort law in continental Europe, on the other hand, is governed by comprehensive civil codes, and tort cases are adjudicated by professional judges rather than juries. So far, social inflation has not been meaningful in countries like France and Germany. However, mass tort claims could expand in the EU due to significant legislative changes in product liability and representative actions directives. An effective approach to addressing social inflation could come from the legal system itself, through a reform of tort law aiming at limiting the scope of non-economic damages. Transparency and regulation of TPLF would provide clarity and consistency in tightening disclosure requirements. At the same time, insurers need to invest in risk assessment and modelling, defensive tactics and better claims management. Leveraging new technologies and improved data analyses will also help in preparing for the future claims environment. Ultimately, a collaborative effort between legal reforms, regulatory measures, and innovative insurance practices will be essential to mitigate the impacts of social inflation and ensure a more stable and predictable liability landscape.

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Adapting to advancing climate change also poses major challenges for poorer regions in particular. Access to reliable, up-to-date data helps to utilize scarce public funds as effectively as possible. Our collaboration with GFDRR aims to create a public library of risk data, empowering low- and middle-income countries to better adapt to the impacts of climate change.

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Climate change is driving long-term change to our planet 🌎 and creating direct and indirect effects that impact human life and health. Direct effects include the acute repercussions of more frequent and intense extreme weather events, such as heatwaves 🥵, which can result in mortality or injury. ▶️Register now to join the 21 May webinar in our climate change series: Climate Change and the Impacts on Life and Health https://ow.ly/GHkl30sCk6P

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Another year of stormy skies. Swiss Re Institute preliminary estimates for global insured losses from natural catastrophes in 2024 put the total at more than USD 135 billion. At least two thirds of the losses are attributable to the US. Hurricanes Helene and Milton struck Florida is short succession, while floods resulting from very heavy rainfalls wreaked devastation in many areas across the world. In Europe alone, flood-associated insured losses were around USD 10 billion. Weather-related losses are set to increase as climate change impacts become more intense and exposures increase in high-risk areas due to urban sprawl. We've said it before: adaptation is key. For more see https://lnkd.in/ee63ejt3

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As end of Q4 comes near the industry wraps up claims’ processing & revising financing and reinsurance structuring for zonal and regional limits. For our colleagues & friends in catastrophe modeling - whether it is on model validation with historical claims or on methodology for accounting and quantifying physical & loss uncertainty, do not hesitate to reach out. (recent methodology paper by our team, https://lnkd.in/eF2jWYAz), Verisk Extreme Event Solutions, #riskmanagement, #underwriting, #insurance, #reinsurance,

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During my conversation with Eberhard Mueller, former Chief Risk Officer and Chief Actuary of Hannover Re Group, he mentioned that his most important lesson during his career was "The journey from a quantitative actuary to a holistic risk manager". Wherever you are in your career as an actuary or in another profession, you always evolve, you're always on a journey. You may start with being involved in the small details, and over time, you need to focus on understanding the big picture. Being able to zoom in or to zoom out when it's needed is a skill that will bring you a long way. If you need help to grasp the bigger picture, get in touch! ____________________________________________________ Hi, I'm Caroline and I love helping impact-driven leaders find meaning, clarity and joy at work and have time and energy to live their life to the fullest. I do so in English, French, German and Swedish! #executivecoaching #coaching #mentoring #speaking #leadership #resilience #communication #selfleadership #internationalcoach #internationalspeaker #fuehrung #kommunikation #résilience #resilienz #worklifebalance #riskmanagement #risk #riskculture #riskcommunication #risiko #risikomanagement #risikokultur #risikokommunikation

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Our second talk of the year focuses on how Proactive Rehabilitation really benefits both the insured employee and their employer. Many of our Health & Care customers use this benefit but its also relevant for any of our Employers liability policyholders and their brokers, please do join us to find out more

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✨ #LifeConference2024: Reflecting on Innovation and Transformation ✨ The final day of the Life Conference has concluded, marking three days of rich discussion about the insurance industry's current and future landscape. Key reflections for me include: - The insurance industry has innovated significantly with the transfer of pension capital to insurers. Yet, the full spectrum of the value chain—from creative deal structuring to technology adoption—continues to evolve, offering new avenues for investment and enhanced customer service. - The journey with AI is just beginning. Understanding its capabilities and limitations opens doors to responsibly utilise this technology for insightful analytics and streamlined operations, ultimately improving customer engagement and outcomes. - The actuarial profession and the insurance industry play a pivotal role in tackling climate change and promoting sustainability. I'm inspired by the showcased innovation and the potential role of (AI-enabled 😊) actuaries in addressing complex societal challenges such as economic growth, systemic inequalities, climate action, and sustainable development. Looking forward to next year's conference to get an update on how we have progressed further as an industry and profession. #LifeConference2024 #InsuranceInnovation #Actuaries #AI #Sustainability #ClimateAction #EconomicGrowth #BeXPS

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When it comes to cannabis and its legalisation, there are many opinions, prejudices and myths. Have you ever wondered how the legalisation of cannabis might affect our life insurance business? As Germany has had a law in place since April this year, we have researched this question and compiled the relevant information from our perspective. Spoiler alert: there is no such thing as 'medically' healthy cannabis use, just as there is no such thing as healthy use of other drugs. But that is not the relevant question for us. If you are interested, you can read more about it here:  https://lnkd.in/dN6uGYtJ #insurancemedicine #lifeinsurance

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Step into the dynamic world of Swiss Re's Actuaries, where data-driven insights fuel innovation and reshape the future of global risk management. Our actuarial experts go far beyond numbers, blending advanced analytics, creative problem-solving, and 160 years of Swiss Re’s legacy to craft cutting-edge solutions. From risk prediction to portfolio optimization, they’re not just mitigating risks—they’re building resilience that empowers businesses and communities to thrive in an uncertain world. Watch now and witness the extraordinary impact actuaries are making today, as they shape a safer, more sustainable tomorrow. #SwissReActuaries #ActuarialScience #RiskManagement #Innovation #Resilience #Sustainability Amit Kalra Anshuman Anand Senthil Ramanan FIA, FIAI Nitin Kumar Nabajit Saikia, FIA Rajeshwarie VS Megha Garg Kshitija Khurana Prerana Sadarangani Sonia Joseph Raunak Singhania Subhash Sharma Satarupa Dutta Arjun Kumar Kanduri Pratik Agarwal Mahima Kedia FIA Mini Manivannan

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In the first of my series of short videos which I’ll post over the next month, I explore two topics that have been taking centre stage among Life & Health insurers... Watch the video below or read my article for more info here: https://lnkd.in/gC8eTK25 Munich Re Automation Solutions Ltd #insurance #insurtech #underwriting

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