Representatives from Swiss Re Talk Reinsurance and Public Sectors Solutions
On Thursday, March 11th, the Actuarial Club hosted Swiss Re for a presentation on what reinsurance entails and a deeper look into Public Sectors Solutions. The presenters included Yommy Chiu (a Senior Product Manager in Public Sector Solutions), Girija Biyani (a Client Manager in P&C Client Markets Asia), and Amanda Chiang (a Medical Reinsurance Underwriter in L&H Client Markets Americas).
The presentation began with a general discussion about reinsurance. This included how, in a nutshell, reinsurance is insurance for insurance companies. Additionally, there was a conversation about insurance companies being the main client for reinsurance companies.
From there, the discussion moved towards Public Sector Solutions. The first topic was how Swiss Re contributes to this. For instance, they became the first team in the reinsurance industry to be fully dedicated to the public sector. Leaving a global footprint, the team has provided tailored support to the specific needs of the public sector clients.
From the insurance standpoint, there are many risks associated with the government. The presentation explained the geopolitical, economic, societal, technological, and environmental risks and the specific contingent liabilities the public sector faces.
The UW-Madison Actuarial Club extends its thanks to Swiss Re, Yommy, Girija, and Amanda. We enjoyed learning about the functions of a reinsurance company, a further look at Public Sector Solutions, and what working alongside the government looks like. Our students benefited from the knowledge and advice given. We hope to hear from Swiss Re again soon!