Risk Strategy & Innovation

KEYNOTE: GLOBAL RISKS AND FUTURE SHOCKS: HOW CAN INSURANCE HELP BUILD RESILIENCE INTO THE ECONOMY AND PROTECT FUTURE GENERATIONS FROM THE RISKS OUR CHILDREN WILL FACE 20/30 YEARS FROM NOW?

Keynote Speaker: William McDonnell, Group Chief Risk Officer, RSA Insurance Group

PANEL DISCUSSION: WHAT WILL THE INSURANCE VALUE CHAIN AND BUSINESS SYSTEM LOOK LIKE 10 YEARS FROM NOW

• Drivers of change, now and on the horizon
• The platform economy - what role will the tech giants play in the future of the insurance industry? How real is the threat from the likes of Amazon or Google?
• Fintech as both enabler and disruptor – how is Fintech set to overturn the business system?
• Impact on:
• Customer lifetime management/ customer interface
• Underwriting?
• Claims management
• Product development – continued trend of pay per use products?
• Distribution channels
• Risk management
• How do we make ourselves resilient to disruption and open to opportunities?

Panelists:

Dr. Bernhard Kaufmann, Group Chief Risk Officer, MunichRe
Elena Rasa, Chief Underwriting Officer, Zurich
Socrates Coudounaris, Chairman, Institute of Risk Management (IRM)

CRO PANEL DISCUSSION: INNOVATION IN NEW PRODUCT DEVELOPMENT: WHAT WILL INSURANCE PRODUCTS LOOK LIKE 5-10 YEARS FROM NOW AND HOW CAN RISK TEAMS PLAY AN ENABLING ROLE IN THE PRODUCT DEVELOPMENT PROCESS?

• What will insurance products look like 5-10 years from now?
• How to deal with Big Data/AI and pricing/sales implications 
• How do you set up your risk function to respond to changes in product development and keep pace with more agile and dynamic product development?
• Response to AM BEST’s consultation on creating rating criteria on insurance company innovation –where can the CRO play a role and act as enabler in the process?

Panellists:

Alex Hindson, Chief Risk Officer, Argo Group International Holdings
Emmanuel Van Grimbergen, Chief Risk Officer, Ageas
Dominic Rau, Head Risk Governance and Steering, Swiss Re
Dr. Stefan F. Kroepfl, Global Head of Life Business Analysis, Zurich
Sebastian Rath, Principal Insurance Risk Officer, NN Group

KEYNOTE ADDRESS: HOW IS CLIMATE CHANGE DRIVING AND CHANGING BUSINESS MODELS IN ECONOMIC SECTORS AND WHAT DOES THAT MEAN FOR INSURANCE?

This session will look at how business models in industries such as energy, mobility and agriculture are changing due to climate and sustainability related drivers. It will consider the long-term business impacts this will have for the insurance business model and the secondary niche impacts we should be aware of.

Keynote Speaker: John Scott, Head of Sustainability Risk, Zurich 

IN CONVERSATION WITH GABRIEL BERNARDINO

Gabriel Bernardino, Chairman, European Insurance and Occupational Pensions Authority (EIOPA)

Christopher Cundy, Managing Editor, INSURANCEERM

THE C-SUITE PANEL: MAINSTREAMING CLIMATE RISK & FOSTERING A HOLISTIC AND INTERCONNECTED APPROACH TO UNDERSTANDING AND MANAGING CLIMATE RISK–STRATEGIC CHALLENGES AND APPROACHES

•  To what extent is climate risk becoming mainstream into the core business? What work remains to be done?
• Joining up the thinking and working holistically. How can the key stakeholders better communicate and come together to develop a consistent approach to climate risk across both sides of the balance sheet?
• How have climate risk strategies and approaches evolved over the past year – what has been the practical implications of this and how do you see them evolving in the future? How do you anticipate your climate risk strategy will impact your business and customers?
• How are the business models of clients changing? How are you monitoring evolving customer behavior as public awareness of climate risk increases? How can insurers engage and incentivize their clients towards sustainable investment opportunities?
• How are you managing/facilitating the cultural shift required internally to respond to climate change?
• How can the broking segment of the insurance value chain play its role in addressing climate change?
• How do you anticipate global industry responses evolving? What will good look like in 5 years time?/what does good need to look like?

Panellists:

Adrian Sweeney, UK & International Chief Underwriting Officer, RSA Group
Alessa Quane, Executive Vice President and Chief Risk Officer, AIG
Erick Decker,Chief Investment Officer, Southern Europe and Emerging Markets, Axa
John Scott, Head of Sustainability Risk, Zurich

Moderator: Maryam Golnaraghi, Director Climate Change & Emerging Environmental Topics,The Geneva Association 

OVERVIEW OF CURRENT LONGEVITY TRENDS AND DRIVERS

Speaker: Professor Sarah Harper, Clore Professor of Gerontology, University of Oxford, Founding Director, Oxford Institute of Population Ageing

PANEL DISCUSSION: CYBER UNDERWRITING RISK; UNDERSTANDING, IDENTIFYING AND MANAGING SILENT CYBER EXPOSURES

• Policy wording analysis
• Quantitative assessment of non-affirmative cyber risk
• Scenario testing
• Understanding accumulation scenarios and quantifying aggregate cyber exposures
• Developing a consistent new underwriting approach for cyber risks
• Excluding cyber from the portfolio
• Allocating premium to the risk
• How can ERM work more effectively with underwriting and exposure management on addressing non-affirmative exposure?

Panellists:

Alex Hindson, Chief Risk Officer, Argo Group International Holdings
Fabrice Brossart, Chief Risk Officer UK and International, AIG
Rachel Anne Carter, Director, Cyber, The Geneva Association

CRO PANEL DISCUSSION: NEW RISKS REQUIRE NEW RESPONSES: WHAT SHIFT NEEDS TO HAPPEN TO MAKE THE CRO AND RISK FUNCTION FIT AND ADEQUATE FOR THE NEW RISK ERA?

• What cultural shift is required of the risk function to adapt to this new risk landscape?
• What is the type of risk function and mindset that is needed and how do we get there?
• Upside risk and innovation – the new mindset for the CRO – but how does this work in practice?
• Given the competitive landscape can you afford the risk of missing out on a new business model or market opportunity?
• Increased importance in cross communication with other departments – which partnerships will prove key?
• Is the 3 lines of defense model still viable?
• Talent: recruiting and training for the future?

Panellists:

Claire Weston, Chief Risk Officer, Munich Re UK & Ireland Life and Health
Dr. Frieder KNÜPLING, Group Chief Risk Officer, Member of the Group Executive Committee, SCOR SE 
Philippa Herz, CRO, OneFamily
Giles Fairhead, Chief Risk Officer, Pension Insurance Corporation

PANEL DISCUSSION: EXPLORING THE QUESTION OF ETHICS IN DATA USAGE

How do we balance increased insight capabilities with ethical usage?

• Future trends – how will the partnership between client and insurer evolve over time as a result of data analytics and what does advancement in this area mean for the future role of the risk manager?
• Where can data insight help insurance products be a source for good?
• And at which point does insight and intervention in consumer behavior become unethical?
• Using consumer insight responsibly.
• How could regulators respond to ethical concerns?

Panellists:

Justin Skinner, Chief Risk Officer, Vitality
Natasha Warner, Head of Privacy and Information Management Information Security, Risk & Assurance, Direct Line Group
Roger Dix, Chief Risk Officer, Wesleyan

Moderator: Michael Sicsic, Risk & Regulation Professional, ORIC International Board Member, Former Head of Supervision, Financial Conduct Authority

END OF STREAM 1