Taking a Team Approach: A Reinsurer’s Perspective On Social Inflation
White Paper Summary
Munich Re is well aware of the challenges posed by social inflation and feels comfortable that our current portfolio is being actively managed in order to stay ahead of the variety of factors contributing to the changing values of society.
Since social inflation is a multifaceted issue, it is not enough for just a single discipline to analyze and determine what’s driving social inflation’s impact on results. Therefore, companies must approach the issue with a cross-functional team, pulling expertise from claims, legal, underwriting, actuarial, and data analytics departments to understand and respond to the issue.
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