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IE University opens its Center for Insurance Research

The IE University Center for Insurance Research has three strategic partners - Clifford Chance, SCOR and Informática El Corte Inglés - who bring perspectives from the fields of law, business and technology to the global insurance sector.

Yesterday in Madrid IE University signed an agreement to make Informática El Corte Inglés, the technology arm of Spain’s El Corte Inglés group, a partner of IE’s Center for Insurance Research (CIR). With over 30 years of experience in the market, Informática El Corte Inglés will bring to the Center a marked capacity for innovation and application of new technologies to the sector. “The entry of this company as a technology partner provides the ideal springboard to help the CIR’s research projects meet the kind of challenges facing the insurance industry,” said Vicente Calzado, Adjunct Director of Informática El Corte Inglés. “The key challenges are digital transformation, big data, assisted driving, the internet of things, and cybersecurity.

The Center was officially created earlier this year in July, with the support of Clifford Chance and SCOR. The former is a leader in the field of insurance law, and is the ideal law partner for the Center. Jaime Velázquez, Managing partner of the Clifford Chance sees the CIR as “A great initiative that will contribute toward levels of excellence in the insurance sector.” Diego Aragón, General Director of SCOR GLOBAL P&C Ibérica, affirmed that “The CIR has been created to provide solutions to current challenges facing the sector in the context of the global economy.” As one of the leading reinsurance companies in the world, SCOR will bring essential deep knowledge of the industry and of the varied forms of operation within the sector.

This innovative IE initiative aims to promote and contribute to the development of knowledge about insurance in academic and corporate spheres, and in society as a whole, using a rigorously scientific and independent approach.

The Academic Director of the CIR, Laura Núñez, explained why now is the moment to create a research center for the insurance sector: “Recent changes in the law, the digital transformation of companies, widespread low rates of interest, and new types of consumer behavior are just some of the factors currently affecting the insurance sector. If the sector does not adapt well to these changes, there will be an inevitable and consequential impact on the world economy.”

The CIR aims to become a world reference for research in the insurance sector with a view to helping agents in the industry adapt to the constant challenges they face. With the official entrance of Informática El Corte Inglés as technology partner, the preparation is now complete to start work on the first lines of research.

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