Insuring Tomorrow: CEO Insights on Future-Proofing Insurance
An exclusive Q&A report featuring Chief Executive Officers of Erie Insurance, Allianz Life, Plymouth Rock and Zurich Ventures.
The insurance industry is evolving at record pace, and carriers are faced with the challenge of keeping up with the changing times. As Mary Boyd, President & CEO of Plymouth Rock Assurance Corporation puts it, “Insurance risk doesn’t disappear, it simply changes form – and over the next decade, we all need to ready our businesses for material change”. The need for future-proofing insurance has become more critical than ever, and insurers must adapt their strategies to remain relevant in the industry.
That’s why Reuters Events has brought together some of the most prominent industry CEOs to share their insights and honest perspectives on how industry leaders can future-proof their organizations, and the insurance industry as a whole.
With perspectives from leading voices in the field:
Key topics to look out for:
INNOVATION & INSPIRATION
“My recommendation to every carrier leader: learn more about the Insurtech and Fintech industries and I bet you will connect what you learn to at least one new idea that will improve sales, employee happiness, customer service, or profit outcomes in your business.”
Mary Boyd, President & CEO, Plymouth Rock Assurance Corporation
WORKFORCE RESILIENCE
“We’re proud of all our offerings and amenities, but especially our quality benefits package; the fact that we’re one of only 13 Fortune 500 companies to offer both a 401k and a pension; and that we’ve never had a layoff in our 98-year history. Rather than eliminating positions when needs or technologies change, we reskill and mobilize our workforce. That stability gives employees a sense of security, which is particularly important—and hard to find—today.”
Timothy NeCastro, President & CEO, Erie Insurance
CUSTOMER-FIRST, ALWAYS
“Customer centricity is enjoying a type of ‘renaissance’ in the life insurance industry and it is welcomed. First, what is important to note is that customer expectations around experience are not related to their last experience with an insurance company. Importantly, the comparison is based on their overall experiences with all companies so that is the bar that needs to be met.”
Jasmine M. Jirele, President & CEO, Allianz Life Insurance Company of North America
GROWTH OPPORTUNITIES
“When we start insuring people who need flood or life or other protection but don’t have it, and when we start selling our version of adding the internet to the telephone, we will see tremendous growth.”
Bill Martin, President & CEO, Plymouth Rock Home Assurance Corporation
Covering four key themes:
- Customer-Centricity: Where does prioritizing the customer make a tangible business impact?
- Workforce Resilience: How can carriers appeal to the next generation of talent? How will the future of work evolve over the next decade?
- Overcoming Legacy: How can carriers address the complexities of legacy technology whilst modernizing the customer experience and claims process?
- Future Trends: As we look to the next 10 years, where are the significant growth opportunities for carriers? What will the future of work look like?
I hope you enjoy the insights!
Kind regards,
Alexandra
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