The methodology of co-creation and the sharing of end-to-end expertise is vital to successfully provide and deploy re/insurance solutions, explains Fernando Villar, COO and Head of P&C Client Solutions EMEA, Swiss Re.
Speaking with Reinsurance News around the annual Baden-Baden Reinsurance Congress, Swiss Re’s Villar explained that co-creation, partnerships, innovation and knowledge are the recipe for success.
“Swiss Re’s clients have had tremendous success in deploying our insurance solutions into their markets and organisations. The key to all of this has been a collaborative approach – one that empowers our clients to realise new opportunities by combining their capabilities with Swiss Re’s expertise and technology,” said Villar.
As a result of Swiss Re’s collaborative approach, the reinsurance giant’s clients across the EMEA region have been able to expand their product base, establish more efficient underwriting and claims processes, and have also deployed platforms to facilitate improved handling of important single risks.
According to Villar, the need for a strong collaborative innovation partner is clear.
“All of us are aware of companies within our industry and elsewhere, which had the key elements to succeed, but where today those same elements are the ones that are holding them back. These organisations often struggle to align their clients’ needs and the resulting growth opportunities with their internal processes and organisational structures,” he said.
Villar has been in the risk transfer industry for more than 25 years and has worked in insurance, reinsurance, and e2e from sales to claims operations, and even financial reporting.
He explained to Reinsurance News that this approach is by no means unusual at Swiss Re where teams have experience from across the industry, and beyond.
“All of this means that when we co-create a solution with a client, we can activate a team that not only considers the client’s end-customers, but also the key success factors such as their organisational setup, process and culture. All of the key issues that are important to that client must be part of the strategic plan. With that understanding, we can bring our cutting-edge technology to bear.
“The true magic of solutions,” said Villar, comes not from the technology or the solutions themselves, “but it happens in the methodology of co-creation and sharing of end-to-end expertise.”
Ultimately, the partnership approach that Swiss Re adopts has enabled its clients to innovative and transform opportunities into success, whether that be growth, profitability, or improved efficiency.
“It is about being better together, smarter together,” said Villar.
Adding, “There are powerful benefits that can be unlocked when we come together to combine our capabilities, tech, strategic efforts, and the alignment of interests that comes with a true risk sharing partners. After all, when your tech partner has skin in the game, you can be sure there is the right motivation to get the future right.”
