Munich, the attractive city in southern Germany, has been chosen as the venue for the event to be held on 6 June 2023. Both the city’s strategic location and its many attractions will motivate industry leaders from across Europe to attend the summit. Attendance is by invitation only, and only after a proven track record in the captive industry or a demonstrated interest in creating one.
In recent years, instability (in the broadest sense of the term) has led more companies to consider creating a captive insurer to manage their risks instead of opting for traditional outsourcing. At the Captive Leaders’ Summit Munich 2023, the participants will address the most important topics of the moment in the captive and reinsurance industry: cyber risk, digitalization, employee benefits, and sustainability, among other areas.
One of the presentations is entitled: “Digitisation in captive insurance: Creating value through efficiency”. The captive industry has not been a pioneer when it comes to business digitalization. Insurtech (the use of new technologies in the insurance industry) has allowed captives to manage risk more effectively, although there is a long way to go before digitalization converges in the sector The experts will address several relevant issues, among which we can mention:
- Is it possible to integrate automation into captives?
- How to deal with the use of blockchain?
- How to manage the data in real time, e.g. to prevent risks?
Another presentation that seems relevant to us is called: “Where do captives see cyber-2.0” and it will address, among others, the following issues:
- How can the captive be used to protect the parent company from cyber-attack?
- How is cyber insurance changing?
- What is the way to move from a reactive to a proactive stance in the age of digitalization and in the face of cyber risks?
- What are the views on the possibility of making ransomware payments or communicating with the attacker?
Another priority topic will be employee benefits, where the following aspects will be highlighted:
- Employee benefit models capable of attracting talent, and that can cope with the new trend of giving up work.
- How to implement ESG criteria (social objectives) in employee benefit captives.
- What new regulatory frameworks increase the attractiveness of employee benefit captives?
In short, the Captive Leaders’ Summit Munich 2023 will be one of the key events of the year in the captive sector, where the main trends and challenges of this industry will be discussed. Delonia, through its Reinsurance Platform and Group Management Platform solutions, brings its knowledge and experience to digitize the sector with innovative solutions adapted to the demands of reinsurers and captives.