SCOR signs the Shift Project’s “Decarbonize Europe Manifesto” on 21 March 2017
The Decarbonize Europe Manifesto is an initiative created by The Shift Project, a European think-tank advocating the shift to a post-carbon economy. Designed as a wake-up call 15 months after the signature of the Paris Agreement (COP21), the manifesto calls upon all European States to immediately implement policies aiming to achieve a level of greenhouse gas emissions close to zero by 2050, and upon European actors – individuals, businesses and public authorities – to implement concrete and coherent strategies which can meet the challenge posed by climate change and the limits of natural resources.
SCOR signed the Decarbonize Europe Manifesto on 21 March 2017. Following the press conference held on the same day, SCOR Chairman & CEO Denis Kessler commented:
“By its very nature, the reinsurance industry is very sensitive to the issues raised by climate risks and extreme events.
Through its support for research and active involvement in international initiatives, SCOR has for many years been firmly committed to increasing the knowledge of these risks and to studying how to prevent and manage them. The Group signed the UN Global Compact in 2003 and the Kyoto Declaration in 2009, under the aegis of the Geneva Association. Since 2012, SCOR has also been a founding signatory of the Principles for Sustainable Insurance. In 2015, the Group reaffirmed its commitment to the management of climate risk with its divestment from companies deriving more than 50% of their turnover from coal, and with the signing of the French Business Pledge on Climate.
In my view, climate risk is one of the major challenges we face, and meeting it will require the involvement of everyone. I have therefore signed this manifesto with great conviction.”
For the full manifesto, go to the Decarbonize Europe webpage at http://decarbonizeurope.org/en/
You can read the list of the principal corporate, political/economic and academic signatories here.
Appointment at SCOR Global P&C
On March 2nd, 2017, Rachel Conran joins SCOR Global P&C as Head of SCOR Business Solutions, the business unit dedicated to large corporate risks. Rachel succeeds Emmanuel Fierens and will report to Benjamin Gentsch, Deputy CEO of SCOR Global P&C and Head of Specialty Lines.
After 12 successful years leading SCOR Business Solutions, Emmanuel has taken on new responsibilities within the Division as Deputy Head of Underwriting Management and Retrocession, directly in charge of retrocession and reporting to Sylvie Van Viet. We are grateful to him for his hard work and commitment, and have no doubt that his experience and expertise will be greatly beneficial to this key function of the Division.
Rachel will lead the further development of SCOR Business Solutions, with the primary objective of achieving the ambitions outlined in the Group’s new 3-year plan, "Vision in Action".
For more than 45 years, large corporate risks (re)insurance has been a key contributor to SCOR’s reputation and results. Rachel is taking up the reins of a successful business at a time when the risk landscape and the business environment are undergoing rapid changes. Technology and regulations are game changers throughout the sectors in which SCOR Business Solutions operates, and we feel that we are at the beginning of a new cycle.
While the changes are challenging, they are also sources of opportunities to develop and regenerate our business. And we are well placed and prepared to seize those opportunities.
Rachel brings with her extensive experience in large corporate (re)insurance, combined with a leadership style and business relationship culture that are perfectly aligned with the values of SCOR Global P&C and SCOR Business Solutions.
We welcome her on board.
Rachel's Short Biography
After graduating in Logical Philosophy Rachel joined an investment bank and later the insurance industry. Throughout her career spanning more than 20 years, she has moved between London, Frankfurt, Cologne and Munich. She has worked for some of the world’s largest international insurance companies and is an expert in underwriting complex corporate risk. With her diverse background she has built up and led global teams in Financial Lines and more recently Property and 1st party Cyber. She enjoys partnering with customers and expert brokers to push the boundaries of transferable risk.
ReMark, a SCOR Group Company, invests in the health of the insurance industry
ReMark continues to intensify its focus on the development of customer centric insurance propositions with a strategic investment in Umanlife (http://fr.umanlife.com/), an innovative wellness platform delivering personalised lifestyle coaching tools for consumers and bespoke platforms for businesses. Umanlife have deployed their award-winning solutions in a wide range of industries and environments and have an impressive client list. Umanlife’s platform is an exciting step change in ReMark’s proposition to insurers, enabling clients to not only understand but also impact customer behavior.
ReMark’s recent Global Consumer Study of 8,000 consumers highlights the potential of wellness, wearables and rewards to revolutionise customer perceptions of value from insurance products. Bundling Umanlife’s lifestyle management tools with insurance products provides an ongoing engagement platform for consumers to interact with their insurer and derive benefit beyond the traditional financial support resulting at the time of claim. The result is increased customer satisfaction and brand loyalty. For the insurer, this translates into better persistency and the ability to actively manage their portfolio risk profile.
Umanlife’s solution is device agnostic, aggregating data into one centralized platform. User data is distilled into personalised customer lifestyle advice. For the insurer, it can ultimately be leveraged to drive price or selection advantage and deliver genuine product and underwriting differentiation.
Paolo De Martin, CEO of SCOR Global Life, comments: “The investment in Umanlife will enable SCOR Global Life to further increase consumer demand, a key focus of the Group’s “Vision in Action” strategic plan. It underlines SCOR’s commitment to driving innovation, through sharing the risk involved in the development of solutions that meet the expectations of today’s customers.”
Stephen Collins, CEO ReMark International and Head of Global Distribution Solutions SCOR Global Life commented, “Marrying ReMark’s existing superior marketing and data analytics expertise with the Umanlife proposition will accelerate our clients’ ability to leverage the growing worldwide quantified-self phenomenon to deliver shared value propositions to their customers. These propositions allow the development of deeper customer insights, facilitating more meaningful and relevant upsell and cross-sell initiatives. “
Alexandre Plé, founder & CEO of Umanlife, added, “We are very excited to be working closely with ReMark to bring innovation to the life insurance industry. ReMark and Umanlife will be jointly developing bespoke end-to-end customer journey propositions to be deployed with selected clients around the world, working with them to accelerate business growth in an ever challenging environment.“
Read ReMark's latest Global Consumer Study
4th SCOR Young European Researcher Prize for research into Alzheimer’s disease
The Scientific Committee of the French Alzheimer’s Research Foundation, comprised of eight European neurology professors, has named Dr. Niklas Mattson of Sweden’s Lund University as the winner of the 4th SCOR Young European Researcher Prize, which is financed by the SCOR Corporate Foundation for Science.
Niklas Mattson accepting his award at the ceremony organized by the Alzheimer’s Research Foundation on the 30th of January 2017. (in the background, Bruno Latourette, Head of Actuarial & Risks at SCOR Global Life and member of the Board of Directors of the SCOR Foundation for Science)
Dr. Niklas Mattson’s original research on biomarkers has improved medical knowledge of disease mechanisms in the early stages of Alzheimer’s disease.
A biomarker can be defined as “a naturally occurring molecule, gene, or characteristic by which a particular pathological or physiological process, disease, etc. can be identified”. Proteins or other molecules found in fluids such as blood or cerebrospinal fluid can constitute biomarkers, as can physiological or anatomical changes observed using techniques such as functional magnetic resonance imaging (fMRI), which uses MRI technology to measure brain activity by detecting changes associated with blood flow, and positron-emission tomography (PET), a scan that uses a radioactive substance called a tracer to look for disease in the body.
Denis Kessler gives Global Keynote Industry Address at the 10th India Rendezvous
Denis Kessler (Chairman & CEO of SCOR SE), accompanied by Victor Peignet (CEO of SCOR Global P&C), Romain Launay (COO of SCOR SE) and Michel Blanc (Chief Underwriting Officer - P&C Treaty Asia Pacific) visited India on 18 and 19 January 2017 for the 10th India Rendezvous in Mumbai, at which Denis Kessler delivered the Global Keynote Industry Address.
On the evening before the conference, Mr Kessler hosted cocktails followed by dinner at the Taj Palace Hotel, Mumbai, for twelve CEOs from existing and prospective P&C and life clients.
The CEOs enjoyed the warm hospitality and company of the Group’s Chairman and senior management. They were appreciative of SCOR’s commitment to the Indian market, and the regulatory approval for setting up a branch in India was seen as a logical next step to further strengthen and deepen SCOR’s relationships in India through a local presence.
During the conference, Mr Kessler’s Global Keynote Industry Address, entitled “The Global Reinsurance Market & its Impact on India”, made a very positive impact on a large and highly receptive audience. Following the speech Alice Vaidyan, GIC Chairperson, met with Denis Kessler, Victor Peignet and Santhana Gopalan, Managing Director of SCOR’s India office, to discuss the recent regulation on order of preference.