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Hannover Re wins award for innovation

09 October 2014 Hannover Re

At this year's Insurance Conference Munich (inscom) Hannover Re was the recipient of the "I3 Award" in the category of Design Innovation for the "Energie Einspar Protect" (EEP), an energy savings product developed jointly with b2b Protect GmbH.

The prize is awarded in recognition of business models, services and products designed by companies that have the potential to deliver fresh impetus to the insurance sector and further advance the industry's development.

The EEP policy enables providers of energy-saving measures to offer their customers a warranty for the efficiency of their solution. If the measure fails to deliver the promised savings, the customer receives a compensatory payment from the insurer. This product opens up new potential to generate premium while at the same time making an active contribution to climate protection.

"We see this award as affirmation of our continued efforts to develop new risk solutions going forward and thereby position ourselves as an innovative partner for our clients", Chief Executive Officer Ulrich Wallin stated.

Quick Polls

QUESTION

Financial behaviour experts suggest that today’s risk modelling methodologies ignore your client’s emotional ability / behavioural capacity. What are your thoughts on spicing up risk profiling tools to make allowance for your client’s financial behaviours

ANSWER

[a] Bring it on; my client’s make too many irrational financial decisions
[b] Existing risk profiling tools are adequate
[c] Risk profiling tools should be based on the model / rational client
[d] The perfect risk profiling tool is science fiction
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