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BMS Tops 2013 List of Best Places to Work in Reinsurance

BMS, the specialist independent broking and underwriting group, has been selected as one of the 2013 Best Places to Work in Insurance, ranking 8th in the top 10 small companies category (25-249 U.S. employees), and winning the Reinsurance Broker category in the 5th annual survey organised by US publication Business Insurance Magazine and Best Companies Group.

This marks the second year in a row BMS has received the designation. The award was collected at the October 15 award recognition luncheon in Chicago by a delegation of BMS employees who were instrumental in encouraging employee engagement.

Dane Douetil, BMS Group CEO, said:

We are extremely proud of this accomplishment; it demonstrates the commitment our staff has to the company and reflects the genuine passion everyone at BMS has for delivering outstanding client service in a creative and entrepreneurial way. In the reinsurance brokerage world, standing out is no easy task, and this award highlights that BMS has something special to offer.”

James Hartley, BMS Group HR Director, said:

This award recognises that creating the right environment, hiring talented people and placing personal development and empowerment at the heart of your culture does work. By finding innovative ways to communicate to staff, BMS have more engaged responsive employees who can offer a better overall customer experience.”

BMS has more than 30 years of growth and a balanced portfolio of business. It has made significant investments in expanding its US platform, with offices in New York, Chicago, Philadelphia, Atlanta, Santa Monica and Minneapolis. Alongside exceptional brokers, BMS has augmented its client offering by appointing industry-respected actuaries, catastrophe modelers, claims and contracts experts. BMS also operates an underwriting business, Pioneer Underwriting, which offers a variety of risk-bearing platforms that give clients a wide range of underwriting vehicles.

 

 

 

What makes BMS stand out in the crowded reinsurance arena?

It’s the passion, creativity and care we bring to every aspect of our client relationships. And when you experience it, you’ll know.

Want to feel it? Watch the video

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BMS Sponsors Brand-New reCharge Lounge at NAMIC Annual Convention 2013

We are pleased to announce BMS’ sponsorship of the reCharge Lounge at the 2013 NAMIC Annual Convention, Sunday, September 22 – Tuesday, September 24.

The reCharge Lounge is one of the newest offerings at NAMIC. Located in the South Lobby, Level Four, Washington State Convention Center’s Main Concourse (Across from the NAMIC registration area), the lounge will provide a place for attendees to relax and recharge themselves as well as their devices – with chairs, tables, and a tall charging tower to power portable electronics.

The lounge will be available for the duration of the convention and we look forward to seeing you there.

 

 

 

 

 

 

ILW pricing falls against alternative rivals – Reactions

BMS’ Stefano Nicolini, SVP of our Reinsurance – Retro/ILW division featured in Reactions Magazine online discussing ILW pricing falls against alternative rivals and how the competitive environment has cut pricing on industry loss warranties in 2013.

Click here to read the article (registration required).

Max Taylor – Appointed Chairman, Pioneer Underwriting

BMS Group has strengthened its underwriting growth plans by hiring former Lloyd’s chairman Max Taylor to its MGA business. Insurance Day magazine covered the appointment of Mr Taylor as Chairman of Pioneer Underwriting.

Click here to read more at Pioneer Underwriting

Or alternatively, click here to read the full article at www.insuranceday.com (registration may be required)

Artemis Blog – BMS planning capital markets broker-dealer, BMS Capital Advisory

BMS featured in the Artemis Blog discussing plans to launch a unit dedicated to taking advantage of the growing opportunities in the insurance-linked securities (ILS) space. The unit will be named BMS Capital Advisory and will offer a full range of capital market ILS products.

To read the full article, click here.

 

 

Kurt Johnson Joins BMS Intermediaries as Executive Vice President

BMS Intermediaries has hired Kurt Johnson as Executive Vice President. Johnson will be responsible for providing actuarial support and related services for BMS’ client base. Johnson brings more than 25 years of industry expertise, primarily in the area of reinsurance, to BMS. He has extensive experience in ratemaking, loss reserves, commutations, capital modeling and management reports.

Johnson joins BMS on the heels of a two-year stint at Christopher Gross Consulting, where he provided clients with a broad scope of actuarial consulting services. Prior to that, he spent 11 years at Guy Carpenter, as Managing Director and Regional Manager of the Minneapolis office. He was responsible for all analytical functions for the mid-American region, including actuarial, cat modeling, financial modeling and capital modeling. He was a member of Guy Carpenter’s Actuarial Best Practice committee, which was responsible for setting worldwide actuarial standards.

Before joining Guy Carpenter, Johnson served as a Senior Vice President at E.W. Blanch, where he provided analysis for reinsurance pricing, reinsurance structure analysis, and commutations. He spent the first 10 years of his career at General Reinsurance, attaining the title of Second Vice President. In this role he was responsible for a variety of functions, including loss reserving, IBNR reporting, financial reporting, commutations and reinsurance pricing.

Kurt brings tremendous experience and a well-deserved reputation for his expertise within both the reinsurance and the actuarial communities to BMS. With his background, we expect him to be able to hit the ground running in support of our existing clients and production efforts,”

said David Spiegler, Executive Vice President and Chief Actuary at BMS.

Johnson has a B.S. in Mathematics with a concentration in Statistics from St. Olaf College, and has completed the coursework for a Master’s in Statistics from the University of Minnesota. He is a Fellow of the Casualty Actuarial Society (FCAS) and a Member of the American Academy of Actuaries (MAAA).

Incorrect cargo reporting – Tim Paske, Reactions Magazine

BMS’ Marine and Energy expert Tim Paske was quoted in a recent Reactions Magazine article discussing  Insurers worries over incorrect cargo reporting.

Reinsurance Property and Casualty Director, Paske commented on the difficulty in quantifying aggregate dollar cargo exposures per vessel due to the reporting process.

To read the full article, please click here (registration needed)

 

BMS Receives Special Achievement Award for Exceptional Application of Geospatial Technology

BMS Group received a Special Achievement in GIS (SAG) award at the Esri International User Conference (Esri UC) in San Diego, California held July 10, 2013. This award acknowledges vision, leadership, hard work and innovative use of Esri’s geographic information system (GIS) technology.

BMS uses the Esri ArcGIS platform to provide a robust base and flexible architecture to support the customized solutions in its proprietary iVision™ product – a premier catastrophe risk assessment application that’s revolutionizing how insurance carriers understand and underwrite their risk, as well as how they respond to catastrophic events. BMS partnered with GeoDecisions, a global leader in the information technology industry specializing in geospatial solutions, in developing the solution.

About iVision:

The goal of iVision is to provide an easy to use catastrophe risk management system that clients can access online. iVision analytical features include weather analytics for claims response, BMS’ proprietary ScenarioView™ for stress test analysis, and RiskReveal™ location modeling for underwriting. These features allow carriers to reduce claims handling expense, manage large loss exposures and understand a policy’s portfolio loss correlation before it is bound.

Most spatial analytical products are built to be used by expert data analysts who understand how to navigate complex data systems. For insurance carriers, often it is the divisional or executive management teams who benefit most from these emerging tools, yet find them to be too cumbersome and complex to use. Often they aren’t able to dedicate the staff and resources needed to learn and understand the systems, and because the portfolio management features aren’t interlinked, users have an incomplete view of risk. “Competitive products are under-utilized because they can be difficult to navigate,” says Debra Grubb, Senior Vice President, Catastrophe Analytics at BMS. “Plus, iVision is a highly customizable solution, offering more useful information specific to our individual clients’ needs along with improved ease of use.”

“BMS’ iVision is part of a suite of analytical tools and services BMS offers clients,” says Julie Serakos, Executive Vice President at BMS and head of Catastrophe Analytics. “It is built on the latest technologies – including Esri ArcGIS – and is the kind of product insurance companies need today, to increase efficiency and effectiveness in managing their catastrophic risk.”

About the Esri UC

The Esri UC honors organizations from around the world that span industries including agriculture, cartography, climate change, defense and intelligence, economic development, education, government, health and human services, telecommunications and utilities.

“The SAG Awards identify the organizations and people who are using the power of geography to improve our world and drive change,” says Esri President Jack Dangermond. “At Esri, we are always deeply inspired by the passion and innovation of our users. They deserve recognition for both solving their communities’ greatest challenges and for their invaluable contributions to the continued evolution of geographic science.”

For more information about the 2013 Special Achievement in GIS Award winners, visit esri.com/sag

For more information regarding BMS iVision click here

 

BMS Group Appoints U.S. Chief Operations Officer

BMS Group, independent specialist broker, announced today it has promoted Kristine (Kris) Westall, formerly EVP of BMS Reinsurance Operations, to a newly created role as Chief Operations Officer.

In this position, Kris will oversee all U.S. operations and is specifically responsible for the development and implementation of the BMS strategy in North America, reporting to interim US CEO Roger Cooper. She will focus on providing creative solutions that enhance client service, and procedures that improve consistency and efficiency. She will continue to manage client service operations – including reinsurance accounting, claims, contracts, broker operations and office services.

Kris joined BMS in January 2011 as Senior Vice President, Reinsurance Operations Officer in charge of the firm’s U.S. platform. Previously, Kris spent more than 20 years in the Minneapolis office of Benfield, where she served as SVP, Reinsurance Accounting and Claims. Earlier in her career, as SVP of Brokerage Operations for John B. Collins Associates, Kris managed accounting, claims, IT, contracts, compliance and office services.

Christopher Hopton, Chairman BMS Group, commented,

This promotion reflects how tirelessly Kris has worked to develop the BMS operations platform, successfully building it out into one of the finest in the business. It also demonstrates how committed we are at BMS to our growth strategy in the U.S. reinsurance market. We will continue, with Kris’ excellent support, to invest in the best servicing and client operation in the business.”

 

Westall said:

Since 2011 my focus has been to enhance the reinsurance servicing platform for BMS clients, I am proud to say we have been very successful at creating unique global teams of brokering, analytics, contracts and claims experts. This ‘single-team’ approach makes us operationally efficient and extremely adaptable to the needs of each client. I am excited to be a part of BMS’ continuing growth.”