When a natural disaster strikes and insurers are paying out billions in claims, who insures the insurers? In the aftermath of this year’s Hurricane Florence, many turned to Munich Reinsurance Company, commonly referred to as Munich Re.
While Munich Re has been in business since the 1880s, they’ve recently become one of the most high-tech reinsurers in the industry, using remote sensing devices to survey disaster areas and developing AI that automatically assesses damage. In the full article from Forbes, learn how the company changed its thinking to become more high-tech and decentralized. And discover how Munich Re invented flight delay insurance that covers over 500 million annual flights in China.