Growthsurance™: Work with us, grow your business
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Growthsurance™ is a Swiss Re Corporate Solutions trademark, which we registered in 2015. It represents a concept whereby we help our clients to achieve growth by managing the risks involved in their business development initiatives.
The market has been receptive to our approach and we have already completed a number of Growthsurance™ deals. For example, a European multinational utility company contacted us to support them with a loyalty scheme they were planning. The idea was to offer a “payment holiday” to customers impacted by a major natural catastrophe (an earthquake and/or flood of a pre-agreed magnitude).
We designed a parametric product to cover any payments the company may have to forego under its loyalty scheme. If the loss event (natural catastrophe) occurs, we make a payment reflecting the severity of the event. We understood that a parametric cover was in the client’s best interests as it’s a straightforward solution. It also offers uncomplicated and prompt payment, normally within six weeks.
Growthsurance™ is a novel idea as it focuses more on pre-empting risks as opposed to managing pre-existing ones. Nevertheless, it still centres on risk management and is thus governed by the same principles (efficient claims processing, underwriting expertise etc.) as the rest of our business.
Furthermore, the scope of Growthsurance™ knows no bounds. If you have a plan to build up your business, you can transfer the risk aspect to us and concentrate on making the most out of your opportunity. Some examples of other deals we have closed include protecting an airline from flight cancellations due to black swan events, and insuring a pharmaceutical company against withdrawal of regulatory approval.
At Swiss Re Corporate Solutions, we are always looking for ways to harmonise our risk management capabilities with our clients’ business needs. Ultimately, we have the same goal as you: we want you to maximise your potential. That applies equally to your everyday business and any plans you may have to ensure the growth of your operations.
In our newest sigma 05/2017 "Commercial Insurance: innovating to expand the scope of insurability" you can read more examples of innovative insurance solutions we have developed to protect our clients from earnings and cash flow risks.