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I discovered this fascinating story in more detail at the event “Lloyd’s 2025 – The Future of the insurance” for which I was selected to represent the Swiss market. As I listened to it, I realized one thing: this story has (almost) not aged. It is still, hundreds of years later, the way we see our business. A business where it is still a question of a bet, a bet between suppliers (us) and insureds (you) on the rate of risk: a calculation on the probability that the insured event will occur or not.<\/strong><\/p>\n <\/p>\n In special risks, this is exactly what we do at PSPI: an analysis of the risk and a calculation of whether the event will occur.<\/strong> For example: what are the risks for a special asset like a yacht that it sinks, that it hits another boat and that it causes pollution damage, that it is attacked by pirates, etc… . Then, for each risk, what is the probability of it happening? This is the difference between a packaged product approach and a tailor-made approach. A fundamental difference. <\/p>\n This Lloyd’s methodology – originally applied to the maritime sector – has been transposed to all so-called special risks. The name given to the first car insurance contract in 1904: “ship navigating on land”.<\/p>\n <\/p>\n Beyond the story-telling, it is above all a story of methodology. Processes, which are ultimately an eternal restart, and which contain within them all the passion of a profession.<\/p>\n <\/p>\n ________________<\/p>\n
\nThis is what allows us to create communities of assets with an identical risk\/probability ratio, and thus to obtain the best possible rates from insurance companies for our clients.<\/strong><\/p>\n