Swiss Re Corporate Solutions specialises in the food and agriculture sector. We have experienced underwriting teams equipped to provide innovative, multi-line risk transfer solutions spanning the entire industry.
As an example, we elaborated a solution for a large European cooperative, which wanted cover for its members against poor crop quality. It started out as a pioneering exercise for us and the cooperative. We had to start by reviewing the risk landscape in cooperation with the client. The cooperative knew its members were exposed but it hadn’t built up a detailed picture of where the exposure was, how it was triggered etc.
We spent 18 months listening to the client’s wishes and concerns, analysing their data and sharing our own experiences of previous projects involving cooperatives. The outcome was a solution triggered by the crop’s protein content at harvest (with rainy weather being the risk).
As it was the first time we had offered cover against poor crop quality (and such cover is practically non-existent in the market) we made sure the concept was properly communicated. As a result, we were able to gain approval from all the client's business units. This was crucial to closing the deal, especially as it may take a few years before the cooperative members really buy into the concept.
We made a big difference to the cooperative’s risk exposure by providing an easy to manage and transparent risk transfer mechanism, including efficient payment in the event of a loss. As the weather becomes more unpredictable, we anticipate demand will grow for this type of product.
At Swiss Re Corporate Solutions, we aim to develop our offer accordingly and provide innovative crop shortfall solutions across the full supply chain (production, storage and distribution).
Contact us to learn more.
This innovative coverage protects companies from a potential loss of income and reduced trade as a result of a haze event impacting Singapore.Learn more
What factors are critical for hurricane development? How reliable are seasonable forecasts? What is parametric insurance? These and many other topics were discussed during Swiss Re Corporate Solutions' risk management webinar on Wednesday, June 27, 2018 with Kirsten Orwig, PhD, Nat Cat Specialist and Cole Mayer, Structurer, Innovative Risk Solutions.Learn more
New technologies in construction will fundamentally alter the risk landscape for engineering insurance. They could significantly increase efficiency and include enhanced monitoring, mitigation and management of engineering-related risks, but they also create new risks, like cyber.Learn more
27 September 2018
24 September 2018