HANNOVER RE
Dominique Roudaut , chief strategy , partnership and innovation officer of Hannover Re , explains the reinsurer ’ s role as an ecosystem orchestrator
In 2019 , Hannover Re launched their Asian Growth Initiative . The company ’ s objective was to expand its footprint in Asia with an innovative approach , including expanding in Personal Lines . The motivation behind the move was client-centric , targeting endusers through expanding on existing partnerships with insurance companies .
It resulted in Hannover Re Personal Lines launching 20 product innovations over the past 10 months with as many partners .
Dominique Roudaut , chief partnership and innovation officer of Hannover Re Malaysian Branch , covering Asia excluding China and AnZ , explains , “ Hannover Re clearly distinguishes its effort between enhancing insurer ’ s services for end-users , solutions for insurance company portfolios , and strategy enablement for distribution ”.
“ We provide resilience for end-users ; customer-centricity , efficiency , and relevance for insurers , as well as pointed solutions for distributors , to better enable aspects of their strategy .”
End user-centric services According to Roudaut , Hannover Re ’ s services for end-users are geared towards generating
“ WE CAN ALSO ASSIST INSURERS WITH ASSESSING AND SETTLING CLAIMS WITHIN MINUTES WITH A DIGITAL FNOL USING THE SMARTPHONE CAMERA OF AN INSURED ”
DOMINIQUE ROUDAUT CHIEF STRATEGY , PARTNERSHIP , AND INNOVATION OFFICER , HANNOVER RE
frequent engagement . The traditional insurance model where insureds pay a premium once a year and eventually get the benefit of it the day a claim occurs has proved short , simply because it fails to engage with the customer .
With client-centricity presenting as a core value of the company , embracing change became essential in future proofing Hannover Re ’ s plans .
“ We want our insureds to get something out of insurance every day with prevention services and relevant information , educating and empowering them to change their behaviour ”, Roudaut says .
The insurance company has designed its engagement in a way deemed valuable and relevant enough to not need additional rewards and incentives . However , in some markets there have been tweaks to the format to provide this appreciated value , nudging further behavioural change .
In the process , Hannover Re has evolved from a pure-play reinsurer into an ecosystem orchestrator and integrator . In the process we have evaluated over 700 insurtechs and have engaged over 30 % of these potential partners around specific use