The Life Guide, the underwriting manual that Life & Health Reinsurance shares with its customers, is one of the most visible examples of how Swiss Re’s knowledge creates a source of competitive advantage. The Life Guide is the industry’s most widely-used underwriting manual, used by more than 900 companies in more than 100 countries. It attracts more than 20 million hits per year on our website. Such authoritative tools position Swiss Re as a leading partner for conventional business as well as for tailored transactions among our life and health clients.

Magnum is another good example. This automated underwriting tool processes 30 000 applications for life and health insurance daily and is used as a point-of-sale device on more than 100 000 tablets in China today. Investing to create such tools sets us apart in the marketplace and builds lasting partnerships with clients that can use our support to further expand their business.

Investment in R&D also leads to tangible results. Our Behavioural Research Unit applies the lessons of behavioural economics to improve client and consumer outcomes. By re-framing the messages in one client’s renewal letter, for example, we helped drive a 33% relative reduction in lapses. In another test case we increased smoking disclosure by 14%. With the creation of the Swiss Re Institute, announced in late 2016, we expect this record of innovation to continue.