EMEA CEO of Aon Benfield Richard Posgate: “We have 3 key differences which those are our economy of scale, investments of technology and understanding of local markets.”
Aon Benfield is a reinsurance company which it has serviced in 60 countries around the world and 120 countries in retail industry. EMEA CEO of Aon Benfield Richard Posgate said “With $ 30 billion premium income we have 35 percent of global market.” Furthermore Posgate pointing that reinsurance gets through the great risks and it needs to strong technological infrastructure said “ We have $ 120 billion technology spending annually. So we are the largest company which have strong analytic data software.” Saying that they have devoted a large scale from the technology spending for geological and geographical surveys Posgate said “Insurance and reinsurance is all about data. We are using things like geographic technology to understand what happens in earthquake, typhoons and hurricanes. We have special awareness on it.”
We have footprint in Turkey
Stating that as Aon with 62 thousands employees they have offices almost the all countries which they are performing service, Posgate said “ One of the key differences of us is local awareness. We have footprint in Turkey. Moreover it makes us different in this country. We have invested for 11 years in Turkey. In addition to our investments in Turkey, we continue our researches to learn more Turkey.”
Risk management has 3 stages
According to Richard Posgate risk management has 3 stages and he pointed the first stage of it to understand of risk. Posgate said “ First of all you should describe and understand risks. Then you should decide the risk Capital. On the third and the last stage you should dope out that where the risk will carry you.” Posgate added his speech and said “ All these three stages are same for both companies and governments. But these have more importance for insurance companies. Because risk is the job of insurance companies.”
