Verisk’s Tim Rayner spoke to GR on challenges of navigating technological changes in a complex marketplace, and opportunities in the UAE and Saudi Arabia. The re/insurance industry is undergoing a significant digital transformation, with markets around the world looking for new ways to enhance efficiency and connectivity. Tim Rayner, CEO and president of specialty business solutions at Verisk, is at the forefront of this evolution, particularly in regions such as the Middle East, where the adoption of digital trading platforms is gaining rapid momentum. Tim Rayner Rayner (pictured) has been involved in expanding Verisk’s presence across global specialty re/insurance hubs. He highlights the opportunity presented by the region’s evolving insurance landscape. “Our vision is to create a global marketplace where any intermediary can trade with any insurer or reinsurer anywhere,” he explains. “Dubai and the Dubai International Financial Centre are essential in that strategy, as they serve as key hubs connecting international markets.” The Middle East, particularly Dubai, has positioned itself as a bridge between insurers and reinsurers operating across multiple jurisdictions. According to Rayner, one of the key challenges in these markets is modernising traditional processes that still rely heavily on manual interactions. “Typically, today, insurance contract negotiation […]
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