Corporate insurance can often be a complex, risky and time consuming space to navigate for big businesses.
Swiss Re Corporate Solutions is one of the leaders in this industry that’s helping to take away some of that burden with their pioneering products designed to advance corporate insurance for the benefit of clients.
Pioneering better solutions
With the evolution of any industry brought upon by globalisation and digitalisation, new risks come with new opportunities. The need for a fundamental security and knowledge framework which can ensure the smooth running of business even if something goes wrong is paramount.
Swiss Re Corporate Solutions exists to service that very need. As the commercial insurance arm of the Swiss Re Group, the division understands exactly how to protect businesses. This is delivered via a solely client-centric approach covering three key areas:
- Understand the risks facing your business today
- Anticipate the risks your business will face tomorrow
- Tailor your coverage accordingly to build resilience
The division doesn’t stick to rigid guidelines either. If traditional insurance isn’t the right product to protect a business, Swiss Re Corporate Solutions has the expertise to find an alternative. This is where the concept of innovation forms a major part of the firm with a team of experts continually conceiving and refining risk solutions for an array of business sectors – an offering that has seen Swiss Re Corporate Solutions complete over 250 innovative transactions in 2021 alongside a slew of awards to back it up.
Back in 2020, Swiss RE Corporate Solutions was awarded New Insurance Product of the Year – Hong Kong at the Insurance Asia Awards. Former Greater China CEO, Jingwei Jia, said at the time of receiving the award: “Swiss RE Corporate Solutions, is a name that already had a great reputation for innovation in the market, so it’s a great honour to win this award.”
“We’re a Hong Kong-based large investment company that has a lot of property purchases and sales in Japan. So the usual property damage and business interaction coverage by different insurance carriers to administrate the property in and out, to figure out what is the price-average time, what’s the exposure-average time, is troublesome.
“What we offered was a parametric earthquake cover with the lump sum capacity and predefined claims pattern so that the administrative work could be significantly reduced. And there’s also a great certainty in terms of how much they really need to purchase insurance for. So every time they purchase or sell the property they can name their price rate.
“Parametrics cover can be used in multiple industries. From history, the trigger of making this product available is third party independent data and also the client’s specific needs. If we can find out these two elements, we can offer this solution to every industry.”
Living up to a reputation of excellence
As part of the Swiss Re Group, Swiss RE Corporate Solutions enjoy favourable credit ratings from Standard and Poor’s, Moody’s and A.M. Best. They have the financial resources to provide high net capacity to back their insurance solutions.
The global organisation has approximately 50 offices in 19 countries which boasts over 2,500 expert employees with experience in underwriting, claims management, risk engineering and other relevant disciplines.
Interested parties can visit Swiss RE Corporate Solutions for more information.