Article Abstract:
Low interest rates, low prices and capital rationalization will continue to plague life, health, property, casualty and reinsurance companies in 1993. Life insurers will bear the added burden of problematic real estate mortgages. Property/casualty reinsurance rates will increase as much as 15% as underwriters withdraw from this arena. The trend toward mergers, acquisitions, sales of books of business and blind pools will increase, as will the use of financial reinsurance to offset low pricing.
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Article Abstract:
The emergence of the electronic marketplace spells fundamental changes on how insurers look at their business and operations. Some innovative insurance companies use electronic commerce to interact with agents and other suppliers more effectively and to develop customized products and share fast information within the enterprise. It enables the company to reduce its costs, increase scale and cost-effectively handle workload imbalances.
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Article Abstract:
Market or segment domination and niche marketing have become the key to competing in Germany's insurance industry. The change in the industry's complexion was brought about by the European deregulation of the financial services industry. Some German insurers responded to this change by refocusing on the domestic market, expanding internationally, providing international service centers and restructuring.
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