Eurapco Highlights & Progress Report 2022
Eurapco has enjoyed a year of notable growth and success in 2022, driven by increased exchange benefits, rising premiums, and a strong focus on innovation and digital transformation.
The company experienced a 4% increase in exchange benefits, rising from €20.7 million to €21.6 million. Additionally, Eurapco’s Commercial Lines Business Group saw an increase in gross written premiums from €53 million to €68.5 million, and the fronting business in the Commercial Lines International Desk increased from €41 million to €51 million, primarily driven by Aviva and The Hartford which are associated Partners. The fronting fee generated for Eurapco Partners collectively, excluding Aviva and the Hartford, amounted to €3.4 million in revenue in 2022. Eurapco’s Marine Desk achieved an impressive 89% increase in business, rising from €6 million to €11.4 million, mainly due to new opportunities in Marine Cargo and a new risk-sharing framework in Fine Art.
Eurapco has actively engaged in discussions on Data & Analytics, AI (Artificial Intelligence), and ethics to prepare for the future and its rapidly evolving technological landscape. In 2022, with digital transformation becoming increasingly important, the company executed 26 workstreams and projects, resulting in a total of €6.9 million in exchange benefits. The Core Innovation Team launched several initiatives, exploring areas such as the Metaverse, Agritech, Gaming, Digital Assets, Smart Water Alarm, Uninsurables, and Turtle (digital twin for home maintenance). Projects executed within the Eurapco Lab framework included Limoncello and numerous digital health projects.
Despite the challenges posed by the pandemic, the Eurapco Academy provided valuable learning and development opportunities for 347 participants in 2022. The Academy successfully reintroduced the Leadership Experience and Executive Programme, and also launched a new Health Programme.
Eurapco organized a total of 327 events in 2022, including 215 group meetings, 85 project and workstream meetings, 15 academy events, and 12 seminars and webinars, demonstrating Eurapco’s commitment to fostering collaboration and engagement among its partners.
The 2022 achievements in growth, innovation, and learning opportunities showcase Eurapco’s dedication to continuous improvement and collaboration. With a focus on embracing digital transformation and providing valuable resources to its partners, Eurapco is well-positioned for continued success in the years to come.