PUMA – An engineering solution by Swiss ReBreak-Out Session at NORIS 2019, Helsinki

27 August, 2019

Leonhard Albrecht, Stephan Ruckaberle

Agenda

2

01 Solution overview

02 Discussion, outlook

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Solution overview

01

4

PUMA bases on a solid UW approach, runs on scalable technology...

Best practice underwriting framework (CAR/EAR)

Rich set of functionalities

Secure cloud solution

Standard interface for your tool landscape

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...and will also allow to manage entire fac portfolios

Best practice underwriting framework (CAR/EAR)

Rich set of functionalities

Secure cloud solution

Standard interface for your tool landscape

Includes portfolio management component

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Expertise matters a lot for offering long-tail andprofitable construction/engineering covers

6

UW Framework

• Facultative risks• Material damage in

construction and erection (CAR/EAR)

• Cover extensions• All-risk covers• Expected Loss• Swiss Re wording

(EPI)• Object-based

Accuracy

• All kind of complexity of project risks

• Geared towards medium to large risks

• Growing values over construction period

• Different periods of work, multi-year basis

• Accurate costing• Captures “market

standard” levels of deductibles, extensions

• No geo-limitation

Consistency

• Standard-way of rating (process driven)

• Comprehensive and systematic handling of quotations for insurers

• Includes related documentation

• Portfolio stability • Audit proof• Core functionality and

parameters are identical for all clients

Expertise

• UW Advice based on project setup

• Considering all relevant risk factosand exposures

• Benchmarking• Guidance for UW’s• Base-rate approach

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Real-time steering of your portfolio is possible, external data can be leveraged Client is data owner

Additional data will be available to improve your underwriting and to sustain management of your engineering exposures

Standard: no access to client data for Swiss Re

Individual agreements about data needs, non-standard KPI’s

Transparency on Swiss Re implementation

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PUMA clients typically do benefit in a variety areas

Technical Excellence1

Process framework2

Portfolio Management3

Data Access4

Benchmarking5

PUMA delivers Main benefits

• Accurate rating, trusted expected loss• No limitations• UW advice

• Standard procedure incl. pricing (add-on)• Easy replication of the same process• Standardized documentation of risks

• Homogenous portfolio approach• Oversee/steer exposures globally• Projections

Profitability

EfficiencyIT Cost base

EfficiencyProfitability

• Reporting on own portfolio• Average/market data in access

EfficiencyProfitability

• Compare own rate with PUMA EL• Trusted source of expertise in access

EfficiencyProfitability

Helps your…

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PUMA structure

Specification

Entry page

Risk overview1 2 Deal setup 3

Base information Objects & Schedule Cover details

Coverage4 Results5

Summary

EL pricing by client

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Feature outlook

02

o Rating kernel for calculation of expected loss (EL) including extended sublimit-approach for cover extension and PUMA-specific NatCat rating

o Underwriting Advice framework

o Base cover for CAR/EAR (material damage) and cover extensions including NatCat

o Google-Map integration for easy geo-allocation

o Templates for project setup, per project type

o Automated TSI calculation when setting up the risk

o Status management of individual risks

o Portfolio view

o Online Capacity Request

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Managing entire fac portfolios on PUMA

Standard Optionalo Optional functionality: Integration of Swiss Re's

standard NatCat service (RATOS)

o Optional functionality: pricing component to apply clients logic to adjust the cost

o Optional functionality: Application Programming Interface (API) for integration into Client's workbenches

o Optional functionality: Non-proportional layering capability (ability to upload clients non-prop curves or standard market curves)

o Optional functionality: Reporting and Analytics capabilities

o Optional functionality: Data packages Standard & Portfolio

as of nowAvailable

during 2019/2020

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Optional portfolio data packages will be accessible

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o No support of Internet Explorer (Microsoft)

o Certified browsers

o Firefox

o Chrome

o Microsoft EDGE

o Background saving: 40sec - use ‘save’ to immediately save (status bar)

o ‘Open’, ‘+ New Project’ opens new browser windows

o If Single-Sign On (SSO) integration is implemented –first logon takes up to 60sec

o Only through company network (also via VPN), connection through mobile hotspot also possible (performance!)

Good to know

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Agreement about PUMA Signature of Terms of Use (ToU), exchange of relevant data for the setup, identification of the PUMA owner on client side

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Lean on-boardingFew business days to get access, given commercial agreement is in place

Day 1 Day 2 Day 3 Year 1

User exchangeUser group exchange, webinars on new solution features (regularly)

Available integration features

Standard API to connect to PUMA

Single-Sign-On (SSO)

1

2

Requires lean effort by your IT department to connect according to procedures by Swiss Re, supported by Swiss Re IT (approx. 1-2 weeks)

Definition of client domainTechnical setup, instructions on how to entitle individual users, live test

Readiness to UseSR Notification about readiness, user can log on the system

ReviewQualification and renewal of our agreement

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©2018 Swiss Re. All rights reserved. You are not permitted to create any modifications or derivative works of this presentation or to use it for commercial or other public purposes without the prior written permission of Swiss Re.

The information and opinions contained in the presentation are provided as at the date of the presentation and are subject to change without notice. Although the information used was taken from reliable sources, Swiss Re does not accept any responsibility for the accuracy or comprehensiveness of the details given. All liability for the accuracy and completeness thereof or for any damage or loss resulting from the use of the information contained in this presentation is expressly excluded. Under no circumstances shall Swiss Re or its Group companies be liable for any financial or consequential loss relating to this presentation.

Legal notice

1626 August 2019