Will Porter, Head of International Programs Americas at Swiss Re Corporate Solutions, says the firm’s global footprint, through local offices, partners, or past programs, allows it to provide regulatory insights, peer benchmarks, and practical guidance to help companies shift supply chains into new or unfamiliar markets.

Speaking with Reinsurance News in a recent interview, Porter shared insights on how Swiss Re Corporate Solutions is positioned to support multinational clients amid shifting cross-border risks.

“When I think about currency risk and the conversations I have with our customers, the best way to manage it is really by focusing on the timeliness of payments, whether they’re making them to us or we’re making them to them,” Porter said, discussing how firms can best navigate currency exposure across multiple regions.

He continued, “A big part of what we do within international programs is trying to make processes as efficient as possible. In today’s world, there’s a lot of uncertainty and significant fluctuations in currency markets. The best approach we’ve seen is to move payments as quickly as possible.

“That means getting contracts agreed upon early, making sure everyone is aligned when a program is implemented, having premium allocations finalised at inception, or as soon as possible after, and ensuring that all payments are executed properly.

“We can’t control the markets, but we can control time, and that’s where we can make the biggest impact.”

Porter also shared best practices for accelerating cross-border policy reviews and premium transfers in today’s complex environment, noting, “When it comes to policy reviews, transparency is the number one best practice.

“There are typically three key parties involved in any insurance transaction: the insurance carrier, the broker, and the insured. That tripartite relationship functions best when all three are as transparent as possible with one another, when everyone understands the expectations, the intent behind the insurance program, and what those policies will look like across the countries where they’re issued.”

Porter continued, “When that clarity exists up front, the review and acceptance process moves much faster. We see the local entities of all three parties working more efficiently because they know what to expect.

“We’ve also started sharing information collectively, rather than having each party pass things along separately to their respective counterparts. Now, we’re working more as a unified group, which leads to fewer surprises during the review phase.”

On how a global insurance partner adds value as companies shift supply chains into new or unfamiliar markets, Porter observed, “Information is a critical factor for success in today’s economy. When a customer or prospect is looking to enter a market they’re not familiar with, one of the best things they can do is reach out to us as part of the design phase for their international program.

“Because we operate globally, we’re familiar with insurance programs in many countries. Chances are, we’ve had some form of experience in the market they’re considering, whether that’s through one of our partners, our own local office, or past programs we’ve run.

“We can provide insights into the regulatory environment, approaches taken by peer companies, and general guidance based on what we’ve seen work.”

He went on, “If we go a little deeper, particularly from the perspective of our North America portfolio, which is heavily focused on property business, we can also add value through risk engineering. Property insurance often involves natural catastrophe (nat cat) exposure. At Swiss Re, we’ve built a longstanding reputation as nat cat experts.

“One tool we offer is called Risk Data Services (RDS), which gives customers a view of nat cat exposure at sites they’re evaluating, even if they haven’t moved in yet. Whether they’re considering building or partnering in a supply chain, we can show the current exposure and, through this product, even project what it might look like decades into the future under various climate change scenarios.

“It all comes down to leveraging the information and insights we have as a global company. That’s where we can truly support our clients.”

In closing, Porter highlighted how Swiss Re Corporate Solutions is well-positioned to support multinationals as they navigate evolving cross-border risks.

“I think we’re well-positioned, and that’s not by accident. It stems from the global footprint we’ve built, originally through our reinsurance business. The Corporate Solutions arm has been around for 10–15 years now and was designed to give us more direct access to customers and bring us closer to them,” Porter said.

He concluded, “In the international program space, especially as it relates to cross-border business, we’ve invested heavily over the past five or six years. We’ve built a strong, experienced team and, just as importantly, a robust technological platform.

“That platform helps connect our customers, brokers, and our own teams, again, going back to that tripartite relationship, so that everyone is aligned and working toward the same goal. And we’ve seen that strategy pay off as we’ve grown our international portfolio.”

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