This year’s ICNZ conference has a strong future focus. The insurance industry like many others is on the cusp of some of the most significant changes in its history.
We’re somewhat familiar with what the disruptive influences are that will bring change without knowing what shape transformation will take.
We know the pace of technological change is relentless. Vast amounts of data can be collected remotely and instantaneously. When matched with a corresponding leap in analytical capacity it will enable new, non-traditional products and non-traditional entrants to the market.
Structural change is already breaking up the traditional value chain from reinsurer to underwriter to broker to the insured. Those boundaries are blurring through mixed ownership and innovative distribution arrangements and in a world awash with relatively cheap capital, the scope for funding further, significant and rapid change is inevitable.
Inga Beale, Chief Executive of Lloyd’s of London will give a global outlook from one of the biggest insurance markets, including insights on a post-brexit world for London. Roger Dennis, a futurist, will discuss how companies can get blindsided by change, discuss some of the fastest changing technology areas and talk about how companies can navigate uncertain waters.
The disruptive and technological influences that will impact on the insurance sector will be discussed by Singapore-based George Attard, Head of Aon Benfield Analytics International. Kirsten Dunlop, Executive GM Strategic Innovation at Suncorp in Sydney will talk on taking a strategic approach to decision-making when faced with the risks of rapid, disruptive change. Scott Reeves from Munich Re Australia will talk about what the motor insurance industry will look like in future.
After lunch, the former Chair of Creative New Zealand and leading brand expert Peter Biggs CNZM will talk about brand resilience in the 21st century. And former APRA regulator turned expert financial sector consultant Geof Mortlock will address the emerging trends in domestic and international prudential regulation as the Reserve Bank looks to review the Insurance Prudential Supervision Act.
The growing issues around cyber security will be covered by ex GCSB director Ian Fletcher. He will talk to standards of security, underwriting risk and potential consequences, international jurisdictional challenges for cyber cover and what success might look like.
The conference winds up with a four-person industry leadership panel. FMG’s Chris Black, Suncorp NZ's Paul Smeaton, Zurich’s Kai Dwyer and NZI’s Travis Atkinson will discuss the key themes to emerge from the day.
The 2016 ICNZ Conference will attract 300-400 attendees from middle to senior management within the industry, as well as from brokers, industry support businesses and the government sector.