The David Rubenstein Show Thomas Buberl
Mar 14, 2024
Thomas Buberl, CEO of AXA, shares insights on the dynamic insurance landscape shaped by science and technology. He discusses the importance of effective underwriting and investment strategies, especially in light of climate change. Buberl highlights the growing interest of young professionals in the industry, driven by societal impacts and AI opportunities. He also tackles the economic disparities between the U.S. and Europe, emphasizing the repercussions of geopolitical risks and how technology transforms risk assessment in insurance.
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Insurance Business Model
- The insurance business model involves underwriting risk, charging premiums, and investing those premiums.
- Insurers aim to profit from both underwriting and investments while also paying out claims.
Profitability in Underwriting
- Insurance companies must make a profit on underwriting to compensate for the capital involved and provide shareholder returns.
- Historic data plays a crucial role in pricing and ensuring profitability over the contract's duration.
Recommended Insurance Sectors
- Consider property and casualty insurance for commercial businesses and health insurance as promising sectors.
- These areas offer growth potential due to emerging risks and evolving healthcare needs.