2026-09-09 · Source: Reinsurance News
Summary in 3 Points • Paul Brand of Convex Group points to the need for operational efficiency amid softening market conditions • PwC's AI panel discussed the transformative potential of AI in the reinsurance industry • PwC's study found that 20% of companies capture 74% of AI value, indicating a performance gap --- At the Rendez-Vous de Septembre in Monte Carlo, Paul Brand, CEO of Convex Group, discussed the challenges reinsurers face due to anti-globalisation sentiment and softening market conditions. He stresses the importance of operational efficiency and resilience for carriers to maintain performance. Meanwhile, PwC hosted a panel on AI's role in reinsurance, revealing that only 20% of companies capture 74% of total AI value, according to their 2026 AI Performance Study. The panel highlighted that successful firms integrate AI enterprise-wide rather than limiting it to pilot programs. Matt Britten of PwC Bermuda noted that strategic choices in response to market volatility and technological shifts are crucial for insurers and reinsurers.
The insights from the Rendez-Vous de Septembre highlight potential shifts in the London Market's approach to underwriting and risk management. As AI becomes more integral, underwriters may need to enhance their technological capabilities to remain competitive. The performance gap identified by PwC suggests that London Market firms could benefit from investing in AI to improve financial outcomes. Additionally, the focus on operational efficiency and resilience may influence policy wording and pricing strategies, as firms seek to navigate softening market conditions effectively.