Today I’m talking to someone with an incredibly long and varied career at the intersection between science, technology and insurance and reinsurance, on both the broking and underwriting sides of the business.
Now Mike Steel is General Manager of Moody’s RMS and is serving all facets of the industry from an independent perspective.
The legacy RMS business effectively invented the insurance and reinsurance modelling industry and from the evidence that follows, it has been reinvigorated by its acquisition by global ratings agency and data and analytics firm Moody’s.
I often liken the business of modelling to being a precision arms manufacturer when there’s a war on – demand for your products is insatiable. These days as formerly secondary perils become indistinguishable from primary threats and new digital and environmental ones are being created all the time, it is clear that the insurance war is opening up on multiple new fronts.
Being part of Moody’s is giving this business a whole new perspective on the world of risk, as well as far greater operational and financial capabilities to help measure and analyse those risks.
This could manifest itself in developing new products for non-insurance financial institutions and governments, or trying to codify Environmental Social and Governance factors in a format that the insurance industry can easily adopt.
What follows is a fascinating run through of what is in Mike’s very varied inbox.
It is important and valuable work that is going to keep Moody’s RMS and Mike very busy for decades to come.
Near the end of this Podcast I remark that Mike has a really interesting job.
And after a listen to this episode, I’m pretty sure you’ll agree
LINKS:
https://www.rms.com/
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Ep 65 Matthew Moore President Liberty Specialty Markets: Working for mutual advantage
Ep 64 Sean McGovern CEO of AXA XL UK and Lloyd’s: Re-set and re-launch
Ep 63 The broker of the future: Clyde Bernstein, Head of Broking, Willis Towers Watson GB
Ep 62 Fully capitalised, but rationally hard: the 2021 market with David Flandro of HX
Ep 61 A healing market: James Vickers, Chair Willis Re International
Ep 60 Fear breeds discipline, alignment and innovation: Talbir Bains CEO Volante Global
Ep 59 Jean-Jacques Henchoz CEO Hannover Re: Lean and keen
Ep 58 Talent and a willingness to take on risk: Julian James CEO International Insurance, Sompo International
Ep 57 Color outside the lines: Jim Stanard, Chairman Ariel Re
Ep 56 Like 2001, but completely different: Andrew Brooks CEO Ascot Group
Ep 55 Controlled aggression: Alex Maloney CEO of Lancashire Group
Ep 54 Taking a longer view: Eduardo Pérez de Lema CEO of Mapfre Re
Ep 53 No end game. The journey to Ithaka: David Howden CEO Howden Group Holdings
Ep 52 Vanessa Macdonald-Smith of Oneglobal broking: Putting people before numbers and enjoying the fun of the chase
Special Episode: Technical Debt and how to get out of it, with Bart Patrick of Duck Creek Technologies
Ep 51 David Walsh and Graeme Newman of CFC Underwriting: 20% organic growth forever
Ep 50 John Neal: Putting the Lloyd's halo back in place
Ep 49 Tim Turner: This is not a re-run of 85-86
Commonwealth Insurance Forum Special Episode 1: Insuring high-growth emerging markets with Inga Beale and Lesley Ndlovu
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