There’s no doubt that the insurance industry is living through interesting times. We are facing unprecedented change from a wide range of forces including: climate change; new risks, such as cyber security and the sharing economy; and new technology, including artificial intelligence, autonomous vehicles and the internet of things (IoT). We are also seeing social forces play an important role, and breakdowns in international cooperation, mass migration and income inequality are driving many of us to re-examine our role in promoting cooperation and mutual support. The upcoming ICMIF Biennial Conference will address many of these topics and, I hope, spark renewed commitment to our role, not only in addressing changes taking place around us but in reinforcing the importance of our leadership responsibilities to promote cooperation and the value of our business model in a rapidly evolving world.
The Intelligence Committee along with ICMIF staff have been working for over a year to develop and shape the agenda content of the Conference, diving deep into a number of topics and assembling an all-star cast of speakers to bring those topics to life in London in just a few months.
The conference will kick off with an exploration of the disruptions that are taking place across the globe and impacting our industry. Many of our members are front-row spectators to the disruption that is being driven by technology innovators, regulators or the environment. While it is imperative to deal with the challenges created by these disruptions, but there are also incredible opportunities created by them. In some regions, that means finding new ways to underwrite weather risk and provide stability for the rural economy. In others, it means building new distribution channels to reach more customers and build deeper relationships. In still others, it means introducing a new generation of consumers to the value of cooperative and mutual insurance.
Later in the conference, we will further explore the specific impacts of regulation and technology. ICMIF has made tremendous progress in increasing our voice in the international regulatory arena, but the need for engaging with key external stakeholders will continue to be essential for ensuring the long-term health of our industry. Every company is also being impacted by new technology, and many of our members are at the forefront with some of the most cutting-edge ideas. One of the fundamental challenges all of us face is how to innovate while also maintaining our current, successful, core businesses. At the conference, we will learn not only about WHAT some of our members are doing but also, maybe more importantly, HOW they are doing it.
As we have always done, we are set to deliver some very exciting content to our attendees, but for the first time, we will also be welcoming a cohort of young leaders from ICMIF member companies as they attend the first Young Leaders Programme. A group of emerging leaders from across the globe have been working together for almost two years to build a program that not only benefits the young leaders who will attend the Programme, but also invigorates the broader Conference. I think many of you will feel even more optimistic about the future of our sector after experiencing the energy, passion and potential of these young people.
We are excited about the upcoming Biennial Conference and we hope you are too.
See you in London!