An open letter penned by senior members of DEVK Re, Gossmann & Cie, and TigerRisk Partners has called on the re/insurance industry to move forward with its Monte Carlo agendas via digital tools and video calls.
It was announced recently that the 64th edition of the Rendez-Vous de Septembre would be cancelled due to the ongoing coronavirus pandemic.
Their open letter states that, in this context, events such as Monte Carlo or Baden-Baden go beyond being an opportunity to meet and entertain.
“They protect and defend the soul of the industry, reaffirm our shared purpose and values and provide the platform for profound discussions and efficient solutions,” the statement reads.
Member of the Board at DEVK Re Bernd Zens, Gossmann & Cie CEO Arndt Gossmann, and TigerRisk Partners Head of EMEA Marc Beckers all agreed that the call for action being faced is equal to a mandate to re-invent the re/insurance industry.
“In the context of our role as risk-mitigators, capital providers and investors, we are asked not only to face this challenge but to shape it in a way that safeguards our values of trust, integrity, proximity, collective sharing and forward planning.”
Therefore, the letter states a need to dedicate time and to showcase willingness to facilitate a digital Monte Carlo dimension.
As to the next scheduled event, Baden-Baden, depending on the level of health risk, it is suggested that the industry should examine the creation of health protocols that could enable the event to take place under fewer attendees/per company guidelines.
“Before cancelling the Baden-Baden event altogether, we should carefully and thoughtfully consider its proper and safe implementation, under the right precautionary measures, this year and until the successful development of a vaccine.
“While we are all confident that the human tragedy of Covid-19 will not compare to the experience of a war, it becomes painfully evident that the economic, social and political implications will be immense. And so our industry today faces another unprecedented challenge.”
