Top 10 Insights of 2023

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Guy Carpenter is intently focused on innovation—developing tools, models and analytics to help clients make the best-informed business decisions. Cyber issues, climate, and episodes of our GC Fo[RE]sight podcast series were particularly predominant among Guy Carpenter thought leadership content in 2023. Please see below as we highlight the top insights of 2023 from Guy Carpenter and Marsh McLennan experts.

1.       COVID-19 and its Impact on Disability and Life Risk.

In this episode of Guy Carpenter’s Fo[RE]sight podcast series, Meg O’Neill, Vice President for Underwriting & Thought Leadership, and Rick Leavitt, Actuary and Managing Director of Smith Group, a disability reinsurance risk manager and consulting firm wholly owned by Guy Carpenter, take a historic look at the pandemic, how the virus evolved, downstream effects, and lessons learned about data handling and strategies.

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2.       2023 Western North Pacific Tropical Cyclone Prediction

Guy Carpenter produces an annual tropical cyclone seasonal forecast that takes into account current El Niño/La Niña conditions and provides insight into tropical cyclone frequency and landfall rates for the Western North Pacific basin.

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3.       Through the Looking Glass: Interrogating the Key Numbers Behind Today’s Cyber Market

This report contextualizes and quantifies the evolution of the cyber market as a core line of business. It helps provide a useful waypoint in the journey from a bolt-on cover to a mainstay of the insurance industry and makes a compelling argument for new reinsurance capacity providers to enter the profitable cyber market.

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4.       April 2023 Reinsurance Renewals: Japan

The Japan market experienced challenging renewal conditions at April 1, as tightened approaches from reinsurance underwriters left cedents contending with higher pricing trends. Rates were up in all property catastrophe and per risk lines. Casualty lines showed a mixed picture, but the general trend was for modest increases.

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5.       Mortgage Credit Risk Transfer: Thriving Through the Cycle

In this episode of Guy Carpenter’s Fo[RE]sight podcast series, Guy Carpenter experts Jeff Krohn and Tim Armstrong share their insights regarding how the Credit Risk Transfer program de-risks the mortgage industry.

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6.       Global Risks Report 2023

Drawing on insights from more than 1,300 experts and policymakers worldwide, the report, published by the World Economic Forum in collaboration with Marsh McLennan, unpacks some of the key dangers in the short term, highlights escalating risks over the next decade, and examines how competition for critical resources may play out in alternate futures.

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7.       Under the Lens: Investigating Cyber Vendor Model Divergence

In this study—a companion to Through the Looking Glass—our experts conduct an in-depth investigation into the key drivers of cyber catastrophe model differences.

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8.       Enterprise Risk Management and Innovative Solutions for Regional and Mutual Insurers

In this episode of Guy Carpenter’s Fo[RE]sight podcast, Ariah Tough of Strategic Advisory and Risha Mahadeo from the InsurTech Center of Excellence discuss how scenario testing provides greater certainty to regional and mutual insurers, while also explaining how these carriers can make the most effective use of the insurtech environment.

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9.       Double Whammy? Examining the Correlation Between Major Cyber Events and Broad Market Performance

In this report, a joint effort between the Guy Carpenter and Marsh McLennan Cyber Risk Intelligence Center teams, we evaluate extensive industry and academic research to demonstrate the lack of correlation between any observable historical cyber events and stock market performance.

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10.     Legacy Transactions and Their Capital Benefit For Insurers

In this episode of Guy Carpenter’s Fo[RE]sight podcast, Guy Carpenter experts Ed Hochberg and Ronnie Carroll discuss how these structured solutions work and how they enable an insurer to redeploy capital from its back book to future underwriting activities.

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