The Insurance Information Institute's annual Joint Industry Forum — held at the Marriott Marquis in Times Square on Jan. 16 — received a refresh this year, with a change of venue and improved program offerings that included a lineup of CEO talent on a panel that was not to be missed.
AIG President/CEO Brian Duperreault; Bruce Kelley, President and CEO of EMC Insurance Group Inc.; and Argo Group President/CEO Mark Watson III were featured in conversation with moderator Michael Morrissey, president and CEO of the International Insurance Society (IIS). Three topics in particular were to be addressed: the insurance industry's impending talent gap, technology, and regulation.
|The talent conundrum
As an industry, "we've always had a problem in recruiting" due to the common misperception that insurance is a boring, unsexy business, Duperreault said. The P&C business' loss of institutional knowledge, however, raises the stakes on an industry very much in need of some new blood — a need that will continue to accelerate in the next six to nine years.
Duperreault added that closing the talent gap is the No. 1 business issue he's concerned about this year. "Change in the world of technology is all about data and how we assess risk," he said. "We as an industry need to populate ourselves with great talent to better understand that risk."
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Shawn Moynihan
Shawn Moynihan is Editor-in-Chief of National Underwriter Property & Casualty. A St. John’s University alum, Moynihan has earned 11 Jesse H. Neal Awards, the Pulitzers of the business press; seven Azbee Awards, from the American Society of Business Press Editors; two Folio Awards; and a SABEW award, from the Society of American Business Editors & Writers. Prior to joining ALM, he served as Managing Editor/Online Editor of journalism institution Editor & Publisher, the trade bible of the newspaper industry. Moynihan also has held editorial positions with AOL, Metro New York, and Newhouse Newspapers. He can be reached at [email protected].
