What will dictate the future of reinsurance?

What will dictate the future of reinsurance? | Insurance Business New Zealand

Reinsurance

What will dictate the future of reinsurance?

Experts calls on industry to “expand, develop and diversify”

Reinsurance

By
Noel Sales Barcelona

The recent Marsh McLennan Rising Professionals’ Global Forum highlighted the critical role that the next generation’s investment will play in the reinsurance industry.

The forum called on reinsurance players and stakeholders to “focus on expanding, developing and diversifying its talent base” as it continues to elevate its relevance to clients in an increasingly volatile risk environment.

“Today’s global environment is increasingly complex,” said Marsh McLennan president and CEO John Doyle (pictured left). “From the geopolitical and economic situation to climate, technology, and social risks, our clients increasingly want to be more agile and resilient to future shocks. Insurance and reinsurance are important means to propelling our economy and society forward. As an industry, we have a clear responsibility to develop our future leaders to meet these challenges, which is what the Rising Professionals’ Global Forum is all about.”

Meanwhile, Vicky Carter (pictured right), the chairman of Global Capital Solutions, International, Guy Carpenter, focused on geopolitical upheaval, climate transition, cyber threats, and economic fragility as reasons for uncertainty and volatility – something the market will need to be ready for.

“Our industry has a pivotal role to play in enhancing resilience in this new era of risk,” she said. “To meet the challenge, our industry will require a workforce with the talent and skillsets needed for these unique demands. We must inspire the next generation to challenge the status quo and adopt pioneering approaches to risk transfer so the re/insurance industry continues to transform uncertainty into opportunity.”

The two-day forum gathered over 800 of the industry’s next generation of leading talents. It was concluded by a gala evening aimed to celebrate the re/insurance industry’s extraordinary talent.