Podcast Center
Video Center
Webcasts
Resource Center
Events
June 20, 2008 at 02:49 PM
One way for insurers and reinsurers to generate more value may be to get more out of the intellectual property they already control.
Speakers gave that assessment here at a panel discussion organized by FTI Consulting Inc., New York.
“There may be additional money on the table from these assets,” Scott Weingust, an FTI director, said during the session.
Elizabeth Pearce, a director in the intellectual property group at American International Group Inc., New York, talked about an executive who went from one reinsurer to another, then returned to the first reinsurer because he thought the software at the second reinsurer was worse.
When the executive returned to the first reinsurer, he recommended that the company license its proprietary software to other users, Pearce said.
The motive was as much to build market share as to generate revenue, Pearce said.
Efforts to introduce new types of products, such as new types of annuities, could lead to an increase in life insurers’ efforts to market their software to other users, Pearce said.
