The most critical issue facing the reinsurance department at property and casualty carriers revolves around personnel who understand reinsurance either retiring or leaving the company, according to recent research from StoneRiver.
As the Baby Boomer generation retires, this challenge seems likely to continue until insurers recruit, groom or train replacements. Lack of reinsurance automation and accuracy of spreadsheet formulas tied for second place as vital issues.
The fourth annual StoneRiver Reinsurance Administration Survey uncovered these concerns as well as other trends, interests and strategic direction of the industry. In April more than 40 participants responded from a cross section of primarily U.S. property and casualty carriers.
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