Insurance and Reinsurance for the 21st Century: From Disruption to Evolution

In its 18 chapters, this book encompasses all issues facing modern insurance and reinsurance. This book provides a theoretical basis and practical insight into the factors influencing disruptions and evolutionary adaptation of insurance and reinsurance. Reviewers recommend the book to insurance professionals, businesses, government representatives, undergraduate and graduate students, and anyone who needs to learn or has an interest in learning about risk, insurance, and reinsurance and the challenges that will determine the development of insurance and reinsurance in the coming decades of 21st century. The book encompasses 18 different topics that will shape the insurance and reinsurance industry in the 21st century, including catastrophes, climate change, integration processes, changes to the insureds, inclusiveness of insurance, ESG in insurance, digitization issues in insurance and reinsurance (big data, internet of things, blockchains, and InsurTech), strategic management in insurance and risk management, reinsurance portfolio optimization, education in insurance and reinsurance, risk management trends, challenges of insurers as institutional investors, corporate entrepreneurship in insurance and reinsurance, competition, the role of the state, and risks of the 21st century in insurance. The author used a vast opus of literature from 439 sources, 47 graphic representations, and 24 tabular representations. EXCERPTS FROM REVIEWS The insurance and reinsurance industry faces numerous challenges, including catastrophes, climate changes, integration processes, increased responsibilities to society and the environment, policyholders' habits, digitization, risk management trends, competition, and changing risks. Professor Njegomir has analyzed and presented the key trends that characterize the contemporary insurance and reinsurance industry and will continue to determine the future of this industry throughout the 21st century. In a highly professional, original, detailed, and engaging manner, the author has indicated and described the key challenges that lead to disruptions in insurance and reinsurance and highlighted the most relevant issues shaping the evolution of insurers and reinsurers. Professor Njegomir has written the book in an accessible, systematized, and informative way. The theoretical foundation and practical applicability of the presented issues, combined with the many years of successful professional experience and academic and empirical research by the author, guarantee this monograph's theoretical and practical value. The book is intended for insurance professionals, government representatives, undergraduate and postgraduate students, and all those for whom it is necessary to learn about or wish to become more familiar with the main issues insurance and reinsurance companies face. We recommend this book to the broader educational, scientific, and professional public. Emeritus Prof. Dr. Boris Marović Academician Univ. Prof. Dr.phil. Dr.habil. Wolfgang Rohrbach Prof. Dr. Zdravko Petrović