CONNecting with Conning: Emerging markets offer investment opportunities despite turmoil Investments in emerging markets are attractive, especially when developed economies are experiencing slow growth or low yields. In this edition of CONNecting with Conning, Gulen Tuncer evaluates investment opportunities in emerging markets for insurance companies. She is CFA and Director and Research Analyst at Conning, responsible for Corporate and Emerging Market Bond Research. Ms. Tuncer noted the many events that … Read More
Arch Capital Chairman reviews regulation, new capital, growth and more. WRIN.tv spoke with Arch Capital Chairman, President & CEO Dinos Iordanou during the recent IIS Global Insurance Forum, about trends in capital strategies…and the impact of regulation. Highlights of his discussion include: Even with positive steps, insurance regulatory burdens are escalating instead of de-escalating Influx of new capital lowers insurance prices for consumers but hurts insurer margins Arch seeking growth … Read More
Disruption could attract millennials to insurance – Women need opportunity to thrive – PwC Insurance Leader At the IIS Global Insurance Forum in New York, WRIN.tv spoke with Stephen O’Hearn, PwC’s Global Insurance Leader (as of July 2015), about the significant impact “disruptors” are having on the insurance business model. Mr. O’Hearn referenced a recent PwC survey of 1,200 CEOs, which singled out insurance as the industry undergoing the most upheaval. The survey identified a number … Read More
IIS President/CEO on key themes and take-aways from the 2015 Global Insurance Forum The 2015 Global Insurance Forum was held in New York from June 14 – 17. It is one of the most important events on the insurance calendar, drawing hundreds of senior executives, regulatory leaders and prominent academics from around the world. WRIN.tv spoke with Mike Morrissey, President and CEO of the International Insurance Society (IIS), and host of the Global … Read More
ND Insurance Commissioner says “we need to step up our game” to address cyber threat. In the wake of the high-profile breach of the U.S. Federal Government, WRIN.tv speaks with Adam Hamm about recent developments in cyber risk and cyber security. He is the North Dakota Insurance Commissioner and Chair of the NAIC Cyber Security Task Force, and a speaker at the 31st Annual S&P Insurance Conference in New York. Mr. Hamm reminds us that there is … Read More
Game-changing, drones come with new risks and evolving regulation The commercial use of drones is expected to grow rapidly as companies like Amazon and UPS look to use drones to support their activities. Drones can potentially change business models for a number of industries, including insurance. Here, A.M. Best AVP Henry Witmer discusses the use of drones, related liability exposures and the underwriting challenges insurers face. According to Mr. … Read More
WRIN.tv Rewind: III’s Bob Hartwig on the new Congress, capital standards, “disruptive technology” and growth World Risk and Insurance News was on-site for the annual Joint Industry Forum, hosted by the Insurance Information Institute. Here, Dr. Bob Hartwig, President of the Insurance Information Institute, shares his thoughts on the new Congress, the debate over capital standards, technology, and more. III’s Hartwig sees Dodd-Frank, Obamacare and MetLife’s SIFI challenge as key Federal issues in 2015. Will … Read More
A.M. Best cautious of impact from International Capital Standards. In highlights from the First Monday series, A.M. Best’s Senior Economist Meg Mulry looks at development of international capital standards (ICS) by the International Association of Insurance Supervisors (IAIS), and the timeframe for adoption. Ms. Mulry notes that the Financial Stability Board (FSB) and the IAIS have identified nine insurance companies that are deemed systemically important. She says the regulators … Read More
Insurers should put Social Media into their DNA…Connect and Engage with customers At the 2015 European Insurance Forum, WRIN.tv asked Arjen de Boer, the Founder of ITDS Business Consultants for his take on technology trends affecting insurers and for his advice on the industry’s use of social media. According to Mr. de Boer, the decline in insurance penetration these days is due, in part, to the economic recession. In England, he says … Read More
Regulators and insurance industry would both benefit from global regulatory standards Darren Maher, a Partner and Head of Corporate Insurance at Matheson, spoke with WRIN.tv at the 2015 European Insurance Forum in Dublin about the movement toward global insurance regulation. The talk of creating a global regulatory regime started in the immediate aftermath of the most recent financial crisis. Mr. Maher says the industry and regulators realized the current regulatory regimes … Read More
Technology disrupting supply chains…and the insurance industry – Head of Technology at Deloitte At the European Insurance Forum in Dublin, WRIN.tv spoke with Harry Goddard, Head of Technology at Deloitte, about the pace of change impacting the insurance industry. He says the pace of change is quickening, because of the ‘consumerization’ of data and technology. Consumers are becoming more sophisticated in how they engage with companies and service providers. Mr. Goddard notes three … Read More
Global taxation having major impact on insurers/reinsurers – Global Head of Tax at XL Catlin At the 2015 European Insurance Forum, WRIN.tv spoke with Mervyn Skeet, Global Head of Tax at XL Catlin, about the changes he sees in the global tax environment, and the impact on insurers and reinsurers. Mr. Skeet sees two major trends in taxation. First governments are looking to collect tax revenue where economic activity is happening, and from multinationals. He … Read More
Oxford Prof paints bleak future if we don’t manage globalization and systemic risk Ian Goldin is Professor of Globalization at the University of Oxford and author of “The Butterfly Defect”, a book that looks at how local events cascade over national borders. WRIN.tv spoke with Professor Goldin about globalization, systemic risk, and why mitigating uncertainty in an interconnected world is essential. According to Professor Goldin, the titled of his book “The Butterfly Defect” … Read More
Insurance leaders need to work with regulators and policymakers to bridge the widening “Insurance Gap” The level of demand for Insurance has been declining in western developed economies. At the recent European Insurance Forum (EIF) in Dublin. Enda Murphy, EVP and Head of Global Business Operations at RGA International Reinsurance, addresses the “insurance gap”, why it has evolved, and how to increase penetration. Mr. Murphy says insurance penetration over the last ten years has been … Read More
Central Bank of Ireland Director: Irish insurers are ready for Solvency II, but systems still a concern Sylvia Cronin, Director of Insurance Supervision at the Central Bank of Ireland, and a member of the EIOPA Board of Supervisors, joins WRIN.tv during the recent European Insurance Forum to discuss whether Irish insurers was ready for Solvency II. According to Ms. Cronin, the insurance industry in Ireland has been looking at Solvency II for the past 15 years. While … Read More
Deloitte Partner expresses concern: Are the regulators ready for Solvency II? Glenn Gillard, a Financial Services Partner at Deloitte, speaks about the implementation of Solvency II, Base Erosion Profit Sharing (BEPS), and conduct regulations that could affect insurers in the near future. The final phase of preparing for Solvency II is coming to an end said. Mr. Gillard believes the current challenges surround what is going to be delivered, especially around … Read More
Irish Minister of State touts Ireland’s economic recovery, taxation, regulation and Vision 2020. The Irish economy has recovered very well over the past several years, and now outpaces the rest of the European Union. At the recent European Insurance Forum (EIF) in Dublin, WRIN.tv spoke with the Irish Minister of State Simon Harris, from the Departments of Finance, Public Expenditure & Reform, about the recovery and the vision for the future of Ireland’s … Read More
‘Father of Solvency II’ discusses original rationale, frustrations, and the future of insurance regulation Solvency II will be implemented on 1 January 2016. At the recent European Insurance Forum (EIF) in Dublin, WRIN.tv speaks with Karel van Hulle, who was responsible for the early development of Solvency II and is known as the “Father of Solvency II.” He is currently an Associate Professor at the Goethe University in Frankfurt and Chairman of the Insurance … Read More
Ireland – a recognized center of excellence within the global insurance industry. At the 2015 European Insurance Forum (EIF), Dublin International Insurance and Management Association (DIMA) CEO Sarah Goddard speaks with WRIN.tv about the biggest issues facing the industry, the growth of the Irish insurance market and the 2015 European Insurance Forum. With Solvency II implementation scheduled for 1 January 2016, Ms. Goddard says preparations are among the many hot topics at … Read More
ACORD Tech Talk: The use of Drones in the Insurance Industry In this edition of ACORD Tech Talk, host Johnell Johnson welcomes Kathleen Swain, Innovation Advisor at USAA to discuss the recent approval by the FAA allowing USAA to use drones and the use of drones by insurance companies. According to Ms. Swain, “USAA started researching the use of drones in 2010 and in 2014, filed for two exemptions from the FAA for … Read More