Business opportunity management
Our "Innovation Management" unit analyses business ideas and opportunities systematically with the aim of generating new business and fostering sustainable growth. The networking of the innovative minds involved gives rise to close links with other projects, working groups and bodies, such as with the working group on “Emerging Risks und Scientific Affairs". Ideas contributed by the global network have been realised as innovative insurance solutions and successfully established on the market by primary insurance partners.
Hannover Re offers entrepreneurial talents an environment for successful start-up and expansion projects in the field of (re)insurance. We want to work together with them to turn their idea into reality. For this reason we seek to play a supporting role and to enable them to develop their project in a purposeful manner. For our company, it goes without saying that their idea will be treated confidentially and with integrity.
A project conducted in 2016 (“Journey Re”) forged a connection to students, university graduates and young professionals with a view to developing new business models for primary insurance and reinsurance and translating the creativity that exists outside the industry into new business opportunities. Work on refining the results of the project continued in 2017. Further projects, especially those in relation to digitalisation / insurtechs, are designed to advance future-ready digital business models and generate reinsurance business over the medium term.
We can offer:
- A network in the insurance sector
- Expert knowledge
- Support with obtaining licences
- Funding assistance
Through our global orientation and our operations in all lines of reinsurance we achieve extensive risk equalisation. In particular, diversification between our Property & Casualty and Life & Health reinsurance business groups enables us to effectively deploy our capital.
We manage our total enterprise risk such that we can expect to generate positive Group net income with a probability of 90% and the likelihood of the complete loss of our economic equity and shareholders’ equity does not exceed 0.03% p. a. These indicators are monitored using our internal capital model.
The rating agency Standard & Poor's assessed Hannover Re's risk management as "Very Strong", the highest rating.
The risk landscape of Hannover Re encompasses technical risks in property/casualty and life/health reinsurance, market risks, counterparty default risks, operational risks and other risks. The specific risk characteristics and the principal monitoring and management mechanisms are described in detail in the respective sections of the current Group Annual Report.