Disruption or Innovation?

The Future

Much is “twittered” and “linkedined” about how fintech will reshape the insurance industry. No doubt there is massive potential for efficiency gains. Additionally, the outputs created by artificial intelligence will affect jobs for many insurance practitioners and innovations such as self-driving cars will alter the landscape of the entire insurance industry.

Uber-Insurance ?

Airbnb for instance, is successful because it offers the ENTIRE value chain of the temporary lodging industry. Research, booking, payment, pre- and after- sales service and the actual service of temporary lodging – all is there. And the same logic applies to Uber.

Most Insutech efforts appear to aim at improving parts of the value chain, which is a great effort in itself, but I doubt that it will lead to an Uber-style disruption.

audiatiur et altera pars

I recommend an article, written by Dr. Schanz,  on this topic: head over to their website to get a view from the “other side” on this highly interesting issue.

and one more:

Munich Re recently published another good read on the topic. Head over to their website and note the indication of “approximate reading time” right next to the article. That is an interesting concept of managing visitor’s attention.



Social Selling Index on Linkedin


LinkedIn calculates your Social Selling Index automatically. Apparently it is a measure on how well you do on the sales-related parameters that LinkedIn deems important. A detailed explanation can be found here.

A fellow Singapore Management University alumna (yes, its a “she”, that’s why there is an “a” at the end) alerted me to the index. I quickly headed over to LinkedIn, expecting a rather low score for myself. Why was I pessimistic? I do have a lot of connections in LinkedIn, but I hardly post on LinkedIn and rarely comment on other’s posts. In other words, I consider myself as not very “social” in that aspect.

the surprise

The SSI is rather well-hidden in the netherings of LinkedIn. However, once there, I was positively shocked when I saw that I am in the top 1% within the re-/insurance industry peer group. The overall score of 66 leaves room for improvement, but the top 1% made me smile!

LinkedIn top 1% SSI Score for Reto Brosi
the ranking of my LinkedIn SSI score

the question

Once the initial euphoria wore off, I started thinking.

I do a lot of marketing for Megrow Consulting – that goes without saying – but top 1%? This would almost imply that I’m amongst the ultra super successful agents for any insurance company, which clearly I am NOT!

So what is it then? The number of connections counts for 25% of the overall score, so with 1800 links, I almost got full marks in that segment. And needless to say that LinkedIn scores what it can measure, so there is an element of a self-fulfilling prophecy in the index.

Back to the insurance industry: Insurance is not really sold/purchased via LinkedIn or other social media. Hence, what LinkedIn considers strong a strong sales skill doesn’t matter in the risk taking industry. plain simple.

so what?

Fintech innovators are exactly looking at the upside of social media for insurance sales. I’m there and I’m ready. And the other point of course is that the LinkedIn can do much more to attract the insurance industry.

Exciting Times in Hong Kong: GN10 gets ERM moving

ERM on the move in HONG KONG

GN10 in Hong Kong: the OCI issued guidance note 10 in 2016. Enterprise Risk Management takes a prominent spot in that note. Companies need to appoint a risk officer and set up a dedicated board risk committee, to just name a few points of the guidance note.

Minimum compliance with these GN10-requirements is likely to score short of level 2 on the RIMS ERM-maturity scale. A “2” is better than a “0” or a “1”, but to fully profit from the investment into ERM, companies should aim at  level three (“3”). Why a “3”? International benchmarking puts good ERM-practice at level 3 on the said RIMS scale.

ignite THE TURBO

So, if GN10 in Hong Kong lays the groundwork for ERM, why stop at level 2? This feels a like running the first 80 meters of a 100 meter sprint at full speed, then walking the remaining 20 meters.

I would recommend any insurer operating in Hong Kong to make use of this opportunity and execute a plan to aim for level 3 within the coming 12 – 18 month.

Naturally, this comes with cost, so what are the benefits? First, companies with good ERM-practice have a 20% higher valuation compared to peers with relatively poor practice. Second, the regulation in mainland China puts a lot of effort on risk management. If Hong Kong based insurance companies want to benefit from the potential market access under the “Greater Guangzhou-Macao-Hong Kong-Bay-Area”, then better be ready soon! Recent news (*) put an interesting perspective into cross-border regulation as well.

keen to know more?

ERM isn’t rocket science, yet engaging a seasoned professional to support your efforts is a good investment.

Interested in how I can accelerate your company’s ERM-journey? Contact me via any of the means indicated below, or simply write to reto.brosi@megrow.asia

(*) Equivalence Assessment Framework Agreement on Solvency Regulatory Regime signed by Office of the Commissioner of Insurance and China Insurance Regulatory Commission ; May 2017

A Big Step for Megrow…

….and a small step for humankind…

annual report issued

Just finalized the first ever annual report of Megrow Pte Ltd and submitted it to the relevant authorities in time!

Interested how I can help you with underwriting, ERM and strategy challenges? Contact me via the social media links below or at reto.brosi@megrow.asia

here is the proof..


Interview with the Czech & Slovak Leaders Magazine

Czech and Slovak Leaders MagazinE INTERVIEW

Head over to the Czech & Slovak Leaders Magazine website. In their Q1 2017 issue I share my views about the two countries’ economic outlook and business prospects.

Here is the direct link to the interview with Reto Brosi

Megrow MD interview
Reto Brosi in the Czech and Slovak leaders magazine

Also read the featured interview with D. Wahrenberger in the magazine here.

More information about Reto Brosi and Megrow is here


What an honor for me..

Risk Committee Appointment

What an honor for me: the Singapore Institute of Directors (SID) has appointed me to their Risk Committee with effect from January 2017.

I’m very much looking forward to working with the other committee members.  Risk Creates Opportunities!

Singapore Institute of Directors

The institute was founded in 1998 and has gone from strength to strength since then. Visit SID to find out more.

Veromont CEO on Coaching

Vermont Newsletter

The CEO of Veromont AG, Dani Wahrenberger, shares his thoughts and insights on executive coaching. A true pleasure to read! Find the most recent issue of his newsletter HERE.

Fintech in KL

thanks to @theco. for hosting a great event at their wonderful space in Kuala Lumpur yesterday. Learned a lot & met a few interesting prospects.