The challenging financial climate is an opportunity for insurers to make needed changes to create leaner, more efficient and competitive organizations, according to the president of Lloyd's North America, LoriAnn Lowery.
"People are talking about the glass being half empty, as we're seeing people let go–the redundancy factor," she said during a speech here this month to the Association of Professional Insurance Women.
However, she noted, what happens in these scenarios is that "there is an opportunity to prune. We should look at this as a glass half-full because there are exciting things going on in our industry. The opportunity to be creative and innovative is greater than it has been in years."
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