(Re) introducing Digital Engineering

The outlook for engineering and construction is an enticing prospect for insurers - with investments in renewables, re-industrialisation, and infrastructure. 

But there are challenges ahead. Large volumes of projects to manage, legacy systems that slow down underwriting, demand for new products & services which need capacity, and understanding risk profiles often rapidly changing technologies. 

At Swiss Re, we are helping our clients to understand and take advantage of these opportunities in several ways, including traditional risk capacity. Since 2021, we have also made available an expanded ecosystem of tools that allows efficient, effective evaluation and management of a wide range of engineering opportunities, from construction to operating risks.  

Previously known as Engineering Digital, our platform is now called Digital Engineering — same innovation, sharper focus.

We are proud that this platform has helped clients to power their underwriting, enter (and develop) new markets, and access the capacity needed to grow. As part of our ongoing journey, we have made some changes to how products are named and structured. The value, quality and service remain the same, but with more consistency and clarity on our offering.  

We have four clear offering themes to help you make the most of the platform and select the right tools and services to help you achieve your goals.  

• Costing: utilising our renowned PUMA tool, assess engineering risks at the sales stage, including natural perils and a broad range of cover extensions. Store, retrieve, copy, access and share your quotes across your company.
• Digital Cover: fast and simple access to risk capacity with eFac, complementing our offline offerings, available for both Facultative and Facultative Facilities.
• Automation: QuoteNow automates your pre-bind process for simpler risks, radically increasing efficiency, whilst reducing the quote issuance times for brokers and distribution agents.
• Analytics: use our Risk Inspect tool to capture the survey results of buildings and other sites, or our Portfolio Insights tool to assess and optimise your underwriting results.

At Swiss Re we are a partner beyond risk transfer. With Digital Engineering, you can access a data and technology led platform that helps future proof your offerings, manage legacy systems, reduce cost to serve, volume of submissions, market coverage gaps, consistent underwriting approach, seize new opportunities. All backed by over 120 years' engineering underwriting experience. 

Some examples of use cases where our products have already achieved this include: 

• Working with a large global insurer to integrate our costing tool into their own underwriting processes and workbench, powering consistent and transparent assessment and pricing of engineering projects across the globe. 
• Supporting clients and brokers from the Middle East to Latin America with access to fast and affordable online Facultative capacity coverage, providing them with a competitive edge in dynamic primary markets 
• Providing online coverage for new IDI markets such as Mauritius, helping support accelerate the market development, in turn improving the resiliency of the buildings stock 
• Developing automated underwriting functionality for smaller risks in the USA, helping clients transform their service to clients and brokers, whilst simultaneously addressing cost challenges. 

Please reach out to our team if you would like to find out more. We look forward to working with you and helping build a more resilient world through engineering and construction.