Examining risks and opportunities in the insurance industry
Bruce Eisler, chief executive officer U.S. and chief underwriting officer for Aspen Insurance, shares insights on what he’s seeing in the industry, the factors insurers should be watching and the opportunities ahead.
The insurance industry is constantly evolving to provide coverage for emerging risks, adapt to existing ones, and ensure that policyholders and customers are protected in the event of an unforeseen loss. Events like the worldwide pandemic highlight the value of insurance, the importance of preparing for possible “what if” scenarios, and how losses are constantly changing.
In the latest Insurance Speak podcast, Bruce Eisler, chief executive officer U.S., and chief underwriting officer for Aspen Insurance shares insights on what he’s seeing in the industry, what factors insurers should be watching and the opportunities he sees ahead. Eisler joined the company in 2010, serving as executive vice president and head of U.S. financial and professional lines, and has held his current roles since June 2020.
The pandemic forced businesses, employees and customers to rethink how they operate, and this includes the insurance industry, which is not traditionally known for adjusting quickly to change. However, the pandemic proved how adaptable insurers are, as they pivoted to implementing new insurtech and providing a remote or hybrid work environment for employees while still serving their customers.
Eisler says the pandemic “demonstrated the adaptability and resilience of people and of organizations” and that while “we were physically apart during the pandemic, we truly developed that sense of community. Interestingly, that didn’t just apply internally to our employees and staff. I found that sense of community really transcended to our trading partners and even our competitors, and created organizations that truly care about the wellbeing of their people.”
As far as changes that will continue after the pandemic, Eisler believes businesses should have “confidence in new technologies and efficient ways of working. We went from essentially being an in-office industry and mostly in-office companies to a period of being fully remote” and now it is possible to be more flexible in how companies operate. “Technology also has the ability to increase the efficiencies in our work.”
For more information on the opportunities he sees and the factors insurers should be watching going forward, listen to the podcast above or subscribe to Insurance Speak on Spotify, Apple Music or Libsyn.
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