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[[File:Logo of Insurer Brain.svg|frameless|center|link=]] |
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| text = A good CEO is not a micromanager but a 'Chief Excitement Officer' or 'Engagement Officer' |
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| author = {{Thomas Buberl/attribution }} |
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| }} |
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| image = thomas-buberl.jpg |
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}}{{section separator}} |
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== AXA fundamentals == |
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<div class="main-page-menu"> |
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{{Row header|people ▸}} {{Inline expand |❘ leading figures ▸|{{read|[[Claude Bébéar]]}} {{read|[[Henri de Castrie]]}} {{read|[[Thomas Buberl]]}} }} {{Inline expand |❘ board of directors ▸|{{read|[[Antoine Gosset-Grainville]]}} {{read|[[Guillaume Faury]]}} {{read|[[Angelien Kemna]]}} {{read|[[see all ▸]]|type=gray}} }} {{Inline expand |❘ management committee ▸|{{read|[[George Stansfield]]}} {{read|[[Guillaume Borie]]}} {{read|[[Patrick Cohen]]}} {{read|[[see all ▸]]|type=gray}} }} {{Inline expand |❘ partners group ▸|{{read|[[Etienne Bouas Laurent]]}} {{read|[[Renaud Guidée]]}} {{read|[[Tara Foley]]}} {{read|[[see all ▸]]|type=gray}} }} |
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{{Row header|regions ▸}} {{Inline expand |❘ Europe ▸|{{read|[[France]]}} {{read|[[Germany]]}} {{read|[[Switzerland]]}} {{read|[[Luxembourg]]}} {{read|[[Italy]]}} {{read|[[Spain]]}} {{read|[[UK]]}} {{read|[[Ireland]]}} {{read|[[Turkey]]}} }} {{Inline expand |❘ AXA XL ▸|{{read|[[XL Bermuda]]}} {{read|[[XL Reinsurance]]}} {{read|[[XL America]]}} {{read|[[see all ▸]]|type=gray}} }} {{Inline expand |❘ Asia ▸|{{read|[[Japan]]}} {{read|[[Hong Kong]]}} {{read|[[China]]}} {{read|[[Indonesia]]}} {{read|[[Thailand]]}} {{read|[[Philippines]]}} {{read|[[South Korea]]}} }} {{Inline expand |❘ Latin America ▸|{{read|[[Brazil]]}} {{read|[[Colombia]]}} {{read|[[Mexico]]}} }} {{Inline expand |❘ transversals ▸|{{read|[[AXA Partners]]}} {{read|[[AXA GO]]}} }} |
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{{Row header|results ▸}} {{Inline expand |❘ press release ▸|{{read|[[2025]]}} {{read|[[2024]]}} {{read|[[2023]]}} {{read|[[see all ▸]]|type=gray}} }} {{Inline expand |❘ analyst presentation ▸|{{read|[[2025]]}} {{read|[[2024]]}} {{read|[[2023]]}} {{read|[[see all ▸]]|type=gray}} }} {{Inline expand |❘ financial supplement ▸|{{read|[[2025]]}} {{read|[[2024]]}} {{read|[[2023]]}} {{read|[[see all ▸]]|type=gray}} }} {{Inline expand |❘ activity report ▸|{{read|[[2025]]}} {{read|[[2024]]}} {{read|[[2023]]}} {{read|[[see all ▸]]|type=gray}} }} {{Inline expand |❘ annual report ▸|{{read|[[2025]]}} {{read|[[2024]]}} {{read|[[2023]]}} {{read|[[see all ▸]]|type=gray}} }} {{Inline expand |❘ SFCR ▸|{{read|[[2025]]}} {{read|[[2024]]}} {{read|[[2023]]}} {{read|[[see all ▸]]|type=gray}} }} |
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</div> |
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{{Row header|documents ▸}} {{Inline expand |❘ group standards ▸|{{read|[[Communication, Brand, Reputation standard]]}} {{read|[[Sustainability standard]]}} {{read|[[Price Sensitive or Inside Information standard]]}} {{read|[[see all ▸]]|type=gray}} }} {{Inline expand |❘ group S2 policies ▸|{{read|[[Group Internal Audit policy]]}} {{read|[[Group Compliance policy]]}} {{read|[[Group P&C Underwriting Pricing and Clams policy]]}} {{read|[[see all ▸]]|type=gray}} }} {{Inline expand |❘ others ▸|{{read|[[Group AI policy]]}} {{read|[[Group Sanctions Policy]]}} {{read|[[Group Anti-Money Laundering Policy]]}} {{read|[[see all ▸]]|type=gray}} }} |
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== Competitors & targets == |
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{{Row header|MNC ▸}} {{Inline expand |❘ multi-liners ▸|{{read|[[Allianz]]}} {{read|[[Zurich]]}} {{read|[[Generali]]}} {{read|[[Talanx]]}} {{read|[[MAPFRE]]}} }} {{Inline expand |❘ P&C ▸|{{read|[[Chubb]]}} {{read|[[AIG]]}} {{read|[[Travelers]]}} {{read|[[Liberty Mutual]]}} {{read|[[Tokio Marine]]}} }} {{Inline expand |❘ Life & Health ▸|{{read|[[Bupa]]}} {{read|[[Prudential plc]]}} {{read|[[MetLife]]}} {{read|[[AIA Group]]}} {{read|[[Manulife]]}} }} |
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{{Row header|europe ▸}} {{Inline expand |❘ France ▸|{{read|[[market ranking]]}} {{read|[[Crédit Agricole Assurances]]}} {{read|[[CNP Assurances]]}} {{read|[[Groupama]]}} {{read|[[Crédit Mutuel Alliance Fédérale (GACM)]]}} {{read|[[BNP Paribas Cardif]]}} {{read|[[see more]]}} }} {{Inline expand |❘ Germany ▸|{{read|[[market ranking]]}} {{read|[[Allianz]]}} {{read|[[Munich Re (ERGO Group)]]}} {{read|[[Talanx (HDI)]]}} {{read|[[R+V Versicherung]]}} {{read|[[Generali Deutschland]]}} {{read|[[see more]]}} }} {{Inline expand |❘ Switzerland ▸|{{read|[[market ranking]]}} {{read|[[Schweizerische Mobiliar]]}} {{read|[[Zürich Versicherung (Zurich)]]}} {{read|[[Allianz Suisse]]}} {{read|[[Helvetia]]}} {{read|[[Bâloise (Basler)]]}} {{read|[[see more]]}} }} {{Inline expand |❘ Luxembourg ▸|{{read|[[market ranking]]}} {{read|[[Foyer Assurances]]}} {{read|[[LALUX (La Luxembourgeoise)]]}} {{read|[[Bâloise Assurances Luxembourg]]}} {{read|[[Allianz]]}} {{read|[[AIG]]}} {{read|[[see more]]}} }} {{Inline expand |❘ Italy ▸|{{read|[[market ranking]]}} {{read|[[Generali]]}} {{read|[[Intesa Sanpaolo Vita]]}} {{read|[[Poste Vita]]}} {{read|[[Allianz]]}} {{read|[[Unipol]]}} {{read|[[see more]]}} }} {{Inline expand |❘ Spain ▸|{{read|[[market ranking]]}} {{read|[[MAPFRE]]}} {{read|[[VidaCaixa (CaixaBank Group)]]}} {{read|[[Mutua Madrileña]]}} {{read|[[Allianz Seguros]]}} {{read|[[Grupo Catalana Occidente (GCO)]]}} {{read|[[see more]]}} }} {{Inline expand |❘ UK ▸|{{read|[[market ranking]]}} {{read|[[Aviva]]}} {{read|[[Legal & General]]}} {{read|[[Prudential]]}} {{read|[[Zurich Insurance UK]]}} {{read|[[Allianz Insurance]]}} {{read|[[see more]]}} }} {{Inline expand |❘ Ireland ▸|{{read|[[market ranking]]}} {{read|[[Irish Life Group]]}} {{read|[[Zurich Insurance plc (Ireland)]]}} {{read|[[Aviva Life & Pensions Ireland]]}} {{read|[[New Ireland Assurance]]}} {{read|[[Royal London Ireland]]}} {{read|[[see more]]}} }} {{Inline expand |❘ Turkey ▸|{{read|[[market ranking]]}} {{read|[[Türkiye Sigorta]]}} {{read|[[Allianz Sigorta]]}} {{read|[[Anadolu Sigorta]]}} {{read|[[Sompo Sigorta]]}} {{read|[[Aksigorta]]}} {{read|[[see more]]}} }} |
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{{Row header|reinsurance & bermuda ▸}} {{Inline expand |❘ Bermuda market ▸|{{read|[[market ranking]]}} {{read|[[AXA XL]]}} {{read|[[XL Bermuda]]}} {{read|[[Everest Re]]}} {{read|[[RenaissanceRe]]}} {{read|[[Arch Capital (Arch Re)]]}} {{read|[[PartnerRe]]}} {{read|[[Aspen]]}} {{read|[[see more]]}} }} {{Inline expand |❘ Global Re ▸|{{read|[[market ranking]]}} {{read|[[XL Reinsurance]]}} {{read|[[Munich Re]]}} {{read|[[Swiss Re]]}} {{read|[[Hannover Re]]}} {{read|[[Berkshire Hathaway (reinsurance)]]}} {{read|[[SCOR]]}} {{read|[[see more]]}} }} |
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{{Row header|north america ▸}} {{Inline expand |❘ United States ▸|{{read|[[market ranking]]}} {{read|[[XL America]]}} {{read|[[Travelers]]}} {{read|[[Chubb]]}} {{read|[[Liberty Mutual]]}} {{read|[[Berkshire Hathaway]]}} {{read|[[Zurich]]}} {{read|[[see more]]}} }} |
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{{Row header|asia ▸}} {{Inline expand |❘ Japan ▸|{{read|[[market ranking]]}} {{read|[[Nippon Life]]}} {{read|[[Dai-ichi Life]]}} {{read|[[Tokio Marine]]}} {{read|[[Sompo]]}} {{read|[[MS&AD (Mitsui Sumitomo)]]}} {{read|[[see more]]}} }} {{Inline expand |❘ Hong Kong ▸|{{read|[[market ranking]]}} {{read|[[HSBC Life (International)]]}} {{read|[[AIA International]]}} {{read|[[Prudential (HK) Life]]}} {{read|[[BOC Life]]}} {{read|[[Manulife (International)]]}} {{read|[[see more]]}} }} {{Inline expand |❘ China ▸|{{read|[[market ranking]]}} {{read|[[China Life]]}} {{read|[[Ping An]]}} {{read|[[PICC (People’s Insurance Company of China)]]}} {{read|[[CPIC (China Pacific Insurance)]]}} {{read|[[New China Life]]}} {{read|[[see more]]}} }} {{Inline expand |❘ Indonesia ▸|{{read|[[market ranking]]}} {{read|[[Prudential Indonesia]]}} {{read|[[AIA Financial]]}} {{read|[[Manulife Indonesia]]}} {{read|[[Allianz Life Indonesia]]}} {{read|[[Sun Life Indonesia]]}} {{read|[[see more]]}} }} {{Inline expand |❘ Thailand ▸|{{read|[[market ranking]]}} {{read|[[AIA Thailand]]}} {{read|[[FWD Life Thailand]]}} {{read|[[Thai Life Insurance]]}} {{read|[[Muang Thai Life Assurance]]}} {{read|[[Allianz Ayudhya]]}} {{read|[[see more]]}} }} {{Inline expand |❘ Philippines ▸|{{read|[[market ranking]]}} {{read|[[Sun Life]]}} {{read|[[Pru Life U.K.]]}} {{read|[[Manulife]]}} {{read|[[AIA Philippines]]}} {{read|[[FWD]]}} {{read|[[see more]]}} }} {{Inline expand |❘ South Korea ▸|{{read|[[market ranking]]}} {{read|[[Samsung Fire & Marine]]}} {{read|[[Hyundai Marine & Fire]]}} {{read|[[DB Insurance]]}} {{read|[[Meritz Fire & Marine]]}} {{read|[[KB Insurance]]}} {{read|[[see more]]}} }} |
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{{Row header|latin america ▸}} {{Inline expand |❘ Brazil ▸|{{read|[[market ranking]]}} {{read|[[BrasilSeg]]}} {{read|[[Bradesco Seguros]]}} {{read|[[SulAmérica]]}} {{read|[[Porto Seguro]]}} {{read|[[Caixa Seguridade]]}} {{read|[[see more]]}} }} {{Inline expand |❘ Colombia ▸|{{read|[[market ranking]]}} {{read|[[Grupo Sura]]}} {{read|[[Seguros Alfa]]}} {{read|[[Seguros Bolívar]]}} {{read|[[Allianz]]}} {{read|[[MAPFRE]]}} {{read|[[see more]]}} }} {{Inline expand |❘ Mexico ▸|{{read|[[market ranking]]}} {{read|[[GNP Seguros]]}} {{read|[[MetLife México]]}} {{read|[[BBVA Seguros]]}} {{read|[[Banorte Seguros]]}} {{read|[[Quálitas]]}} {{read|[[see more]]}} }} |
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{{section separator}} |
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== Case studies == |
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<div class="main-page-menu"> |
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{{Row header|capital ▸}} {{Inline expand |❘ M&A ▸|{{read|[[Generali–Cattolica (2022)]]}} {{read|[[Allianz–Aviva Poland (2021)]]}} {{read|[[Chubb–Cigna A&H APAC (2022)]]}} }} {{Inline expand |❘ carve-outs ▸|{{read|[[AIG → Corebridge IPO (2022)]]}} {{read|[[Prudential → Jackson demerger (2021)]]}} {{read|[[Allianz sells UniCredit Allianz Vita stake (2025)]]}} }} {{Inline expand |❘ buybacks ▸|{{read|[[Allianz €1.5bn buybacks (2024)]]}} {{read|[[Zurich CHF 1.1bn buyback (2024)]]}} {{read|[[Travelers $5.04bn repurchase capacity (end-2024)]]}} }} |
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{{Row header|risk ▸}} {{Inline expand |❘ cyber ▸|{{read|[[Zurich–Mondelez NotPetya settlement (2022)]]}} {{read|[[Merck vs Ace (war exclusion rejected, 2023)]]}} {{read|[[Lloyd’s “state-backed” cyber exclusions (from 2023)]]}} }} {{Inline expand |❘ Cat & ILS ▸|{{read|[[Allianz €250m windstorm cat bond (2023)]]}} {{read|[[Munich Re retro + sidecars ($1.55bn, 2025)]]}} {{read|[[Hannover Re cloud-outage cat bond (2024)]]}} }} {{Inline expand |❘ BI disputes ▸|{{read|[[FCA BI test case (UKSC, 2021)]]}} {{read|[[ExCel Centre appeal win (UK CA, 2024)]]}} {{read|[[UK CA on furlough set-offs (2025)]]}} }} |
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{{Row header|tech ▸}} {{Inline expand |❘ claims AI ▸|{{read|[[Allianz “Insurance Copilot” (auto claims, 2024)]]}} {{read|[[Zurich AI claims escalation prediction (2024)]]}} {{read|[[Chubb + Cytora claims doc automation (2024)]]}} }} {{Inline expand |❘ GenAI assistants ▸|{{read|[[AllianzGPT (internal, 2025)]]}} {{read|[[Generali KAssis (claims knowledge, 2025)]]}} {{read|[[Generali “Chatty” (customer chatbot, 2023–24)]]}} }} {{Inline expand |❘ telematics ▸|{{read|[[Progressive Snapshot (UBI, 2011)]]}} {{read|[[Generali–Telepass “Next” (2022)]]}} {{read|[[Allianz–Ticker pay-per-mile (2025)]]}} }} |
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{{Row header|distribution ▸}} {{Inline expand |❘ bancassurance ▸|{{read|[[Allianz–UniCredit framework (2022)]]}} {{read|[[Zurich–Santander LatAm JV + 25-year tie-up (2011)]]}} {{read|[[BNP Paribas ↔ Ageas / AG Insurance reshuffle (2025)]]}} }} {{Inline expand |❘ embedded platforms ▸|{{read|[[Chubb Studio AI embedded engine (2025)]]}} {{read|[[Zurich buys AIG Travel + merges with Cover-More (2024)]]}} {{read|[[Munich Re buys relayr (2018)]]}} }} |
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{{Row header|climate ▸}} {{Inline expand |❘ coal & fossil rules ▸|{{read|[[Allianz coal phase-out thresholds (2025)]]}} {{read|[[Generali coal phase-out (2030/2040)]]}} {{read|[[Zurich “no new fossil” positioning]]}} }} {{Inline expand |❘ transition & resilience ▸|{{read|[[Zurich + Aon hydrogen insurance platform (2024)]]}} {{read|[[Generali expands oil/gas exclusions (2024)]]}} {{read|[[Swiss Re nat-cat loss benchmark (sigma 1/2024)]]}} }} |
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</div> |
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{{section separator}} |
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== Skill development books == |
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{{Row header|communication & presence ▸}} {{Inline expand |❘ conversations & feedback ▸|{{read|[[Crucial Conversations]]}} {{read|[[Difficult Conversations]]}} {{read|[[Thanks for the Feedback]]}} {{read|[[Radical Candor]]}} }} {{Inline expand |❘ storytelling & thinking ▸|{{read|[[The Pyramid Principle]]}} {{read|[[Made to Stick]]}} {{read|[[Storytelling with Data]]}} {{read|[[Talk Like TED]]}} }} {{Inline expand |❘ writing & clarity ▸|{{read|[[HBR Guide to Better Business Writing]]}} {{read|[[Smart Brevity]]}} {{read|[[On Writing Well]]}} {{read|[[The Elements of Style]]}} }} |
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{{Row header|influence & stakeholders ▸}} {{Inline expand |❘ persuasion ▸|{{read|[[Influence]]}} {{read|[[Pre-Suasion]]}} {{read|[[Influence Without Authority]]}} {{read|[[The Art of Woo]]}} }} {{Inline expand |❘ negotiation ▸|{{read|[[Getting to Yes]]}} {{read|[[Never Split the Difference]]}} {{read|[[Bargaining for Advantage]]}} {{read|[[The Power of a Positive No]]}} }} {{Inline expand |❘ conflict & alignment ▸|{{read|[[Crucial Confrontations]]}} {{read|[[The Conflict Code]]}} {{read|[[The Anatomy of Peace]]}} {{read|[[The Catalyst]]}} }} |
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{{Row header|leadership & people ▸}} {{Inline expand |❘ coaching & dev ▸|{{read|[[The Coaching Habit]]}} {{read|[[Multipliers]]}} {{read|[[The Making of a Manager]]}} {{read|[[Turn the Ship Around!]]}} }} {{Inline expand |❘ teams ▸|{{read|[[The Five Dysfunctions of a Team]]}} {{read|[[Team of Teams]]}} {{read|[[Drive]]}} {{read|[[The Culture Code]]}} }} {{Inline expand |❘ change & execution ▸|{{read|[[Leading Change]]}} {{read|[[Switch]]}} {{read|[[The First 90 Days]]}} {{read|[[Accelerate]]}} }} |
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{{Row header|collaboration & culture ▸}} {{Inline expand |❘ cross-cultural ▸|{{read|[[The Culture Map]]}} {{read|[[Leading with Cultural Intelligence]]}} {{read|[[When Cultures Collide]]}} {{read|[[Riding the Waves of Culture]]}} }} {{Inline expand |❘ inclusion & safety ▸|{{read|[[The Fearless Organization]]}} {{read|[[The Person You Mean to Be]]}} {{read|[[Blindspot]]}} {{read|[[Inclusify]]}} }} {{Inline expand |❘ remote & hybrid ▸|{{read|[[Remote]]}} {{read|[[The Long-Distance Leader]]}} {{read|[[Digital Body Language]]}} {{read|[[Suddenly Virtual]]}} }} |
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{{Row header|effectiveness & resilience ▸}} {{Inline expand |❘ time & focus ▸|{{read|[[Getting Things Done]]}} {{read|[[Deep Work]]}} {{read|[[Essentialism]]}} {{read|[[Atomic Habits]]}} }} {{Inline expand |❘ decision making ▸|{{read|[[Thinking, Fast and Slow]]}} {{read|[[Decisive]]}} {{read|[[Superforecasting]]}} {{read|[[The Scout Mindset]]}} }} {{Inline expand |❘ resilience & stress ▸|{{read|[[Mindset]]}} {{read|[[The Upside of Stress]]}} {{read|[[Resilient]]}} {{read|[[Search Inside Yourself]]}} }} |
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{{Row header|customer & trust ▸}} {{Inline expand |❘ empathy & service ▸|{{read|[[The Effortless Experience]]}} {{read|[[Outside In]]}} {{read|[[Hug Your Haters]]}} {{read|[[Unreasonable Hospitality]]}} }} {{Inline expand |❘ trust & relationships ▸|{{read|[[The Speed of Trust]]}} {{read|[[The Trusted Advisor]]}} {{read|[[Give and Take]]}} {{read|[[Dare to Lead]]}} }} |
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</div> |
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{{section separator}} |
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== Insurance fundamentals == |
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{{Row header|fundamentals ▸}} {{Inline expand |❘ risk basics ▸|{{read|[[Frequency vs severity]]}} {{read|[[Hazard, exposure, peril]]}} {{read|[[Correlation & aggregation]]}} }} {{Inline expand |❘ how insurance works ▸|{{read|[[Pooling & risk transfer]]}} {{read|[[Indemnity vs benefits]]}} {{read|[[Premium now, claims later]]}} }} {{Inline expand |❘ incentives & frictions ▸|{{read|[[Adverse selection]]}} {{read|[[Moral hazard]]}} {{read|[[Information asymmetry]]}} }} {{Inline expand |❘ industry structure ▸|{{read|[[Insurers, mutuals, captives]]}} {{read|[[Brokers, MGAs, TPAs]]}} {{read|[[Reinsurers & retro]]}} }} {{Inline expand |❘ policy essentials ▸|{{read|[[Insurable interest, good faith]]}} {{read|[[Coverage, exclusions]]}} {{read|[[Limits & deductibles]]}} }} {{Inline expand |❘ core metrics ▸|{{read|[[Loss, expense, combined]]}} {{read|[[Persistency & lapse]]}} {{read|[[Acquisition economics]]}} }} {{Inline expand |❘ time value ▸|{{read|[[Discounting]]}} {{read|[[Trend & social inflation]]}} {{read|[[Duration risk]]}} }} {{Inline expand |❘ Cat & systemic ▸|{{read|[[Nat Cat accumulation]]}} {{read|[[Pandemic risk]]}} {{read|[[Cyber contagion]]}} }} {{Inline expand |❘ role & trust ▸|{{read|[[Protection & resilience]]}} {{read|[[Fairness & inclusion]]}} {{read|[[Conduct & transparency]]}} }} |
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{{Row header|products ▸}} {{Inline expand |❘ life ▸|{{read|[[Term, whole, UL]]}} {{read|[[Mortality & lapse]]}} {{read|[[Riders]]}} }} {{Inline expand |❘ health ▸|{{read|[[Medical vs income protection]]}} {{read|[[Group vs individual]]}} {{read|[[Utilization levers]]}} }} {{Inline expand |❘ annuities ▸|{{read|[[Immediate vs deferred]]}} {{read|[[Guarantees]]}} {{read|[[Longevity risk]]}} }} {{Inline expand |❘ group benefits ▸|{{read|[[Plan design]]}} {{read|[[Experience rating]]}} {{read|[[Renewals]]}} }} {{Inline expand |❘ personal lines ▸|{{read|[[Motor & home]]}} {{read|[[Rating factors]]}} {{read|[[Claims inflation]]}} }} {{Inline expand |❘ commercial lines ▸|{{read|[[Property & liability]]}} {{read|[[Limits & towers]]}} {{read|[[Risk engineering]]}} }} {{Inline expand |❘ specialty ▸|{{read|[[Marine, aviation, energy]]}} {{read|[[Financial lines]]}} {{read|[[Parametric]]}} }} {{Inline expand |❘ Underwriting gov ▸|{{read|[[Appetite & authority]]}} {{read|[[Quote to bind]]}} {{read|[[Portfolio steering]]}} }} {{Inline expand |❘ lifecycle ▸|{{read|[[Design & pricing]]}} {{read|[[Wording & filings]]}} {{read|[[Monitoring & remediation]]}} }} {{Inline expand |❘ policy admin ▸|{{read|[[Issuance & endorsements]]}} {{read|[[Billing]]}} {{read|[[Retention]]}} }} |
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{{Row header|distribution ▸}} {{Inline expand |❘ channels ▸|{{read|[[Agent/broker/bank]]}} {{read|[[Direct & digital]]}} {{read|[[Embedded & partners]]}} }} {{Inline expand |❘ sales & advice ▸|{{read|[[Needs & suitability]]}} {{read|[[Tools & disclosures]]}} {{read|[[Conversion levers]]}} }} {{Inline expand |❘ intermediary econ ▸|{{read|[[Commissions & clawbacks]]}} {{read|[[Conflicts control]]}} {{read|[[Delegated authority]]}} }} |
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{{Row header|operations ▸}} {{Inline expand |❘ onboarding ▸|{{read|[[KYC/AML basics]]}} {{read|[[Fraud screening]]}} {{read|[[Consent & privacy]]}} }} {{Inline expand |❘ underwriting ops ▸|{{read|[[STP vs manual]]}} {{read|[[Evidence mgmt]]}} {{read|[[QA & audits]]}} }} {{Inline expand |❘ claims ops ▸|{{read|[[FNOL & triage]]}} {{read|[[Settlement & leakage]]}} {{read|[[Litigation & recovery]]}} }} {{Inline expand |❘ fraud mgmt ▸|{{read|[[Detection & SIU]]}} {{read|[[Provider fraud]]}} {{read|[[Recoveries]]}} }} {{Inline expand |❘ service model ▸|{{read|[[Shared services]]}} {{read|[[Outsourcing risk]]}} {{read|[[SLAs & outcomes]]}} }} {{Inline expand |❘ tech & data ▸|{{read|[[PAS, claims, billing]]}} {{read|[[CRM & omni-channel]]}} {{read|[[Platforms & APIs]]}} }} {{Inline expand |❘ productivity ▸|{{read|[[Cost-to-serve]]}} {{read|[[Automation]]}} {{read|[[Ops KPIs]]}} }} |
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{{Row header|finance & actuarial ▸}} {{Inline expand |❘ pricing ▸|{{read|[[Expected loss & margin]]}} {{read|[[Credibility]]}} {{read|[[Price adequacy]]}} }} {{Inline expand |❘ reserving ▸|{{read|[[Case vs IBNR]]}} {{read|[[Triangles & diagnostics]]}} {{read|[[Reserve risk]]}} }} {{Inline expand |❘ life liabilities ▸|{{read|[[Assumptions & margins]]}} {{read|[[Options & behavior]]}} {{read|[[New business strain]]}} }} {{Inline expand |❘ reinsurance ▸|{{read|[[Proportional vs non-prop]]}} {{read|[[Retentions & limits]]}} {{read|[[Credit & collateral]]}} }} {{Inline expand |❘ ALM ▸|{{read|[[Portfolio basics]]}} {{read|[[Duration & liquidity]]}} {{read|[[Credit risk]]}} }} {{Inline expand |❘ performance ▸|{{read|[[Underwriting result]]}} {{read|[[Operating vs net income]]}} {{read|[[Key ratios]]}} }} {{Inline expand |❘ accounting ▸|{{read|[[IFRS 17]]}} {{read|[[IFRS 9]]}} {{read|[[Statutory bases]]}} }} {{Inline expand |❘ solvency ▸|{{read|[[Available vs required]]}} {{read|[[Economic capital]]}} {{read|[[Stress tests]]}} }} {{Inline expand |❘ steering ▸|{{read|[[Growth vs value]]}} {{read|[[Re-pricing actions]]}} {{read|[[Scenario planning]]}} }} {{Inline expand |❘ model gov ▸|{{read|[[Assumption control]]}} {{read|[[Validation]]}} {{read|[[Data governance]]}} }} |
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{{Row header|regulation & gov ▸}} {{Inline expand |❘ purpose ▸|{{read|[[Protection]]}} {{read|[[Stability]]}} {{read|[[Integrity]]}} }} {{Inline expand |❘ prudential ▸|{{read|[[Solvency II & RBC]]}} {{read|[[ORSA]]}} {{read|[[Supervisory reporting]]}} }} {{Inline expand |❘ conduct ▸|{{read|[[Product governance]]}} {{read|[[Claims standards]]}} {{read|[[Fair value]]}} }} {{Inline expand |❘ supervision ▸|{{read|[[Entity structures]]}} {{read|[[Intra-group flows]]}} {{read|[[Recovery & resolution]]}} }} {{Inline expand |❘ gov model ▸|{{read|[[Board oversight]]}} {{read|[[Three lines]]}} {{read|[[Internal audit]]}} }} {{Inline expand |❘ compliance ▸|{{read|[[AML/CTF]]}} {{read|[[Sanctions]]}} {{read|[[Third-party risk]]}} }} {{Inline expand |❘ tax ▸|{{read|[[Premium taxes]]}} {{read|[[Deferred tax]]}} {{read|[[Cross-border issues]]}} }} {{Inline expand |❘ ESG ▸|{{read|[[Underwriting & investment]]}} {{read|[[Disclosures]]}} {{read|[[Transition risk]]}} }} {{Inline expand |❘ resilience ▸|{{read|[[Cyber security]]}} {{read|[[Operational resilience]]}} {{read|[[Data privacy]]}} }} {{Inline expand |❘ emerging ▸|{{read|[[Cyber & systemic]]}} {{read|[[Insurtech & embedded]]}} {{read|[[Alternative capital]]}} }} |
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--> |
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'''Did you know?''' |
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__NOCACHE__ |
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{{#switch: {{#expr: {{CURRENTTIMESTAMP}} mod 100}} |
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| 0 = {{:Definition:Bordereaux}} |
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| 1 = {{:Definition:Burning cost}} |
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| 2 = {{:Definition:Commutation (reinsurance)}} |
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| 3 = {{:Definition:Finite reinsurance}} |
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| 4 = {{:Definition:Fronting}} |
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| 5 = {{:Definition:Follow-the-fortunes}} |
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| 6 = {{:Definition:Cut-through clause}} |
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| 7 = {{:Definition:Binding authority}} |
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| 8 = {{:Definition:Clash cover}} |
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| 9 = {{:Definition:Attachment point}} |
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| 10 = {{:Definition:Exhaustion point}} |
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| 11 = {{:Definition:Reinstatement premium}} |
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| 12 = {{:Definition:Sliding-scale commission}} |
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| 13 = {{:Definition:Profit commission}} |
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| 14 = {{:Definition:Loss portfolio transfer}} |
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| 15 = {{:Definition:Adverse development cover (ADC)}} |
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| 16 = {{:Definition:Aggregate excess-of-loss reinsurance}} |
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| 17 = {{:Definition:Catastrophe excess-of-loss reinsurance}} |
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| 18 = {{:Definition:Per-risk excess of loss reinsurance}} |
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| 19 = {{:Definition:Risks-attaching basis}} |
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| 20 = {{:Definition:Losses-occurring basis}} |
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| 21 = {{:Definition:Claims-made trigger}} |
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| 22 = {{:Definition:Signing down}} |
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| 23 = {{:Definition:Sunset clause}} |
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| 24 = {{:Definition:Utmost good faith}} |
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| 25 = {{:Definition:Contra proferentem}} |
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| 26 = {{:Definition:Incurred but not reported (IBNR)}} |
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| 27 = {{:Definition:Bornhuetter-Ferguson method}} |
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| 28 = {{:Definition:Chain-ladder method}} |
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| 29 = {{:Definition:Stochastic reserving}} |
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| 30 = {{:Definition:Loss development triangle}} |
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| 31 = {{:Definition:Credibility factor}} |
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| 32 = {{:Definition:Allocated loss adjustment expense (ALAE)}} |
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| 33 = {{:Definition:Unallocated loss adjustment expense (ULAE)}} |
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| 34 = {{:Definition:Experience modification factor}} |
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| 35 = {{:Definition:Industry loss warranty (ILW)}} |
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| 36 = {{:Definition:Sidecar (reinsurance)}} |
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| 37 = {{:Definition:Collateralized reinsurance}} |
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| 38 = {{:Definition:Catastrophe bond (CAT bond)}} |
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| 39 = {{:Definition:Retrocession}} |
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| 40 = {{:Definition:Surplus share reinsurance}} |
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| 41 = {{:Definition:Surplus strain}} |
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| 42 = {{:Definition:Surplus relief}} |
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| 43 = {{:Definition:Funds withheld reinsurance}} |
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| 44 = {{:Definition:Modified coinsurance}} |
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| 45 = {{:Definition:Coinsurance penalty}} |
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| 46 = {{:Definition:Anti-concurrent causation clause}} |
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| 47 = {{:Definition:Continuous trigger}} |
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| 48 = {{:Definition:Efficient proximate cause}} |
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| 49 = {{:Definition:Horizontal exhaustion}} |
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| 50 = {{:Definition:Vertical exhaustion}} |
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| 51 = {{:Definition:Sue and labor clause}} |
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| 52 = {{:Definition:Honorable engagement clause}} |
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| 53 = {{:Definition:Hours clause}} |
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| 54 = {{:Definition:Batch clause}} |
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| 55 = {{:Definition:Aggregation clause}} |
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| 56 = {{:Definition:Omnibus clause}} |
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| 57 = {{:Definition:Running down clause}} |
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| 58 = {{:Definition:Warehouse-to-warehouse clause}} |
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| 59 = {{:Definition:General average}} |
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| 60 = {{:Definition:Particular average}} |
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| 61 = {{:Definition:Constructive total loss}} |
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| 62 = {{:Definition:York-Antwerp Rules}} |
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| 63 = {{:Definition:Protection and indemnity (P&I)}} |
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| 64 = {{:Definition:Demand surge}} |
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| 65 = {{:Definition:Social inflation}} |
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| 66 = {{:Definition:Nuclear verdict}} |
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| 67 = {{:Definition:Silent cyber}} |
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| 68 = {{:Definition:Affirmative cyber coverage}} |
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| 69 = {{:Definition:Parametric insurance}} |
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| 70 = {{:Definition:Embedded insurance}} |
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| 71 = {{:Definition:Takaful}} |
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| 72 = {{:Definition:Bancassurance}} |
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| 73 = {{:Definition:Microinsurance}} |
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| 74 = {{:Definition:Captive insurance company}} |
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| 75 = {{:Definition:Cell captive}} |
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| 76 = {{:Definition:Protected cell company (PCC)}} |
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| 77 = {{:Definition:Reciprocal insurance exchange}} |
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| 78 = {{:Definition:Risk retention group (RRG)}} |
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| 79 = {{:Definition:Lloyd's syndicate}} |
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| 80 = {{:Definition:Reinsurance to close (RITC)}} |
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| 81 = {{:Definition:Equitas}} |
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| 82 = {{:Definition:Funds at Lloyd's (FAL)}} |
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| 83 = {{:Definition:Syndicate-in-a-box (SIAB)}} |
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| 84 = {{:Definition:Part VII transfer}} |
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| 85 = {{:Definition:Solvent scheme of arrangement}} |
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| 86 = {{:Definition:Run-off (insurance)}} |
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| 87 = {{:Definition:Demutualization}} |
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| 88 = {{:Definition:Depopulation program}} |
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| 89 = {{:Definition:Probable maximum loss (PML)}} |
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| 90 = {{:Definition:Exceedance probability curve (EP curve)}} |
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| 91 = {{:Definition:Realistic disaster scenario (RDS)}} |
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| 92 = {{:Definition:Monte Carlo simulation}} |
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| 93 = {{:Definition:Copula}} |
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| 94 = {{:Definition:Bühlmann model}} |
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| 95 = {{:Definition:Cape Cod method}} |
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| 96 = {{:Definition:Extra-contractual obligation (ECO)}} |
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| 97 = {{:Definition:Loss in excess of policy limits (XPL)}} |
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| 98 = {{:Definition:Doctrine of reasonable expectations}} |
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| 99 = {{:Definition:Longevity swap}} |
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}} |
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Latest revision as of 22:46, 12 March 2026
Did you know?
💥 Clash cover is a type of reinsurance protection that responds when a single catastrophic event or set of related circumstances triggers claims across multiple policies, lines of business, or treaties within the same ceding company's portfolio. Unlike a standard per-risk excess of loss treaty—which addresses losses from individual risks—clash cover aggregates the impact of one event that simultaneously affects several otherwise independent exposures, protecting the insurer from a concentration of losses it did not anticipate at the individual policy level.
⚙️ Consider a chemical plant explosion that generates property damage claims under a commercial policy, workers' compensation claims for injured employees, general liability claims from neighboring businesses, and environmental liability claims for contamination—all written by the same carrier. Each policy sits in a different book, potentially protected by different excess of loss layers, yet the aggregate drain on the insurer's capital stems from one occurrence. Clash cover sits above those individual program retentions and catches the combined loss that spills over, typically structured as a per-occurrence excess of loss layer with a retention set higher than any single-program attachment point.
🛡️ Without clash cover, a reinsurance program can appear robust on a line-by-line basis yet still leave the ceding company dangerously exposed to a multi-line event. This gap becomes especially significant for diversified carriers and Lloyd's syndicates that underwrite across many classes. Reinsurance brokers typically structure clash cover during the annual treaty renewal, stress-testing scenarios with catastrophe models to calibrate the appropriate attachment point and limit, ensuring the program absorbs realistic worst-case aggregation.
Related concepts: