Reinsurance companies are used to the risks associated with insuring other insurance companies against catastrophic events. Now, however, they’re dealing with risks closer to home—namely, threats posed by evolving business models, rapidly changing regulations, market consolidation, and the need to adopt more automated processes and digital capabilities.
Our Approach to Reinsurance Strategy and Innovation
BCG helps reinsurers meet the challenges they face by launching new ventures, updating business models, and undertaking digital and technology transformations. This entails, among other things, adopting agile at scale and becoming a bionic company, which blends human expertise with the power of technology. We also work with reinsurers to improve operational resilience and enable their digital transformation efforts, as well as define and implement corporate strategies.
Our reinsurance consulting work touches on every aspect of the business—including reinsurance strategy, product development, sales, underwriting, claims, payments, and customer service—and covers companies offering all types of reinsurance. We combine our reinsurance consulting capabilities with a set of proprietary tools: