Live from ACE: Lessons learned from the pandemic and the future of insurance
ACORD CEO and President Bill Pieroni shared insights from two years of dealing with the pandemic and the trends the insurance industry will likely see going forward.
Bill Pieroni is the president and CEO of ACORD – the Association for Cooperative Operations Research and Development – and the global standards-setting body for the insurance and financial services industries.
He was one of the keynote speakers at this year’s America’s Claims Executive Forum (ACE) held in New Orleans, La., and shared some insights arising from two years of dealing with a pandemic and what trends we’re likely to see going forward.
ACORD is 51 years old and has 36,000 members in over 100 countries. Pieroni shared that everything that occurred in the insurance industry was already well underway; the pandemic merely accelerated those efforts. “The pandemic was the moment of truth for insurtech investment,” he said, and those who invested prudently were in a much better position to succeed.
He also emphasized that everything we do matters, “All the small stuff is important,” he said.
Throughout the presentation, he discussed the importance of digitization, the challenges of finding good talent and the importance of attracting, developing and retaining workers.
For more on Pieroni’s insights at ACE, listen to the podcast above or subscribe to Insurance Speak on Spotify, Apple Music or Libsyn.
Related:
Why Lemonade & Metromile should keep you up at night
For insurtechs & legacy insurers, teamwork makes the dream work