Global Threats Facing The Insurance Industry

What are the global threats facing the insurance industry right now and how are these impacting UK insurers and brokers?

Today war, weather extremes and the cost of living crisis dominate public debate but the sector faces critical risks – cyber/AI/tech, regulation, climate change and human talent. Can the insurance sector effectively tackle any of them? Cyber is in the news all the time with companies and government on the lookout for massive show stoppers including potential catastrophic interference with our democratic processes. In addition, with half of us due to retire within the next 15 years, why is there a failure to attract and retain the right talent and what can we and the CII do about it? Finally, it is also clear that insurers simply can’t underwrite the effects of climate change, so what will then happen?

This will be an interactive and wide-ranging talk and those attending will be actively encouraged to contribute with their own experiences and views. We will look at the differences in responses between insurers and brokers with brokers considering business conduct more of a concern than insurers.

Learning objectives - by the end of this talk you will gain an overview of:-

• The key risks facing UK insurers and brokers:-
• What, if anything, can be done to effectively respond to these risks?
• What can the insurance industry do to attract younger human talent?
• Artificial intelligence – is this a threat or an opportunity?