Cyber, analytics and advisory skills mark out Munich Re’s approach from rivals, its two top Asia Pacific executives told GR
Munich Re has embarked on a change to build up its Asia presence over the past two years, moving to concentrate rather than spread its efforts, and to increase its footprint in Asia Pacific.
The reinsurer hopes its cyber, data and analytics, and advisory skills mark out its approach from “pure commodity capacity” rivals, its two top Asia Pacific executives told GR.
“We have the biggest cyber underwriting desk in the region,” said Roland Eckl (pictured, right), Munich Re’s chief executive for Asia Pacific, focused on Japan, Korea, India and South East Asia.
“We think our skills in cyber risk, in data and analytics, and in consultancy differentiate us from pure commodity capacity peers towards service,” Eckl told GR.
Munich Re has invested in its Singapore presence in recent years, basing its regional underwriting heads in Singapore rather than in Germany.
In China, the firm has also been busy, forming and building up its Si Tao digital advisory business, noted Eckl’s fellow Asia Pacific chief executive Tobias Farny (pictured, right), responsible for China, Taiwan, Hong Kong, Australia and New Zealand.
“We think of Si Tao as a product factory, to define and develop opportunities for product innovation in China,” said Farny.
He described one recent insurance product for flight delays that the entity had helped to design and provide the risk modelling expertise.
“It draws know-how from our underwriting side but it doesn’t have to operate with the same client base,” added Farny.