Global broker calls for more collaboration

Global broker calls for more collaboration | Insurance Business

Global broker calls for more collaboration
Aon Benfield, the global reinsurance arm of Aon, will host its 14th Biennial Hazards Conference in the Gold Coast this week as it looks to bolster collaboration between insurers, academics and others in a bid to build resilience.

The conference, which will focus on the bigger picture risk of the future and how best to build resilience, aims to engage the insurance industry, academics, government and the corporate world to enable the reinsurance industry to become more relevant to the lives of consumers.

Over 350 delegates are expected to attend the event, which will be held between 21-23 September and the theme of Beyond Tomorrow… will explore ways to improve risk management in an ever complex world.

Robert De Souza, CEO Australia & New Zealand for Aon Benfield and conference host, said that the changing shape of the reinsurance market should lead to greater innovation.

“With an influx of capital into the market and a below-norm year of catastrophe losses, the insurance and reinsurance industry is looking at how to innovate,” De Souza said.

“Reinsurers need to review their value offering and stay relevant in a changing market. The conference provides an opportunity to spend time hearing from academic and insurance industry thought leaders on emerging challenges and collaborate to build resilience around these risks of the future.”

The conference will host speakers and panellists that will discuss a range of ideas, including; big data, evolving market trends and how technology will challenge the insurance industry.

Malcolm Steingold, CEO Asia Pacific for Aon Benfield, noted that these risks bring great opportunity to the industry at large but need to be approached with caution.

“These emerging risks bring opportunities for product innovation and will enable new markets to flourish by taking advantage of the abundance of capacity,” Steingold said.

“Notably within Asia Pacific, Aon Benfield is working with insurers to identify Asia Pacific countries where global market insurers and reinsurers can seek diversification or where Asian firms can look for multi-national expansion through offering clients more relevant products that reflect their changing needs.”