Insurance Uncut

In our first episode of the season, we catch up with Tom Durkin, head of LCP’s Insurance Consulting team about “the insurer of the future”. We discuss: • Why do insurers need to change? • Examples of firms which are ahead of the game. • What firms should be looking to do now to start the journey.

In our final episode of the season, we reflect on all the great conversations we have had and give an update on any developments. We go back over: • Climate change – we have discussed this ‘hot’ topic across many of our episodes this season. We bring together all the lessons we have learnt and what developments there have been. • Strategy – looking at how boards should be developing their approach...

This week we talk to LCP’s behavioural science expert Zoe Burdo about the behavioural biases that general insurance boards face in typical strategic and management decisions. We look at how biases can impact firms’ judgements when making assumptions about the future and dealing with unknown unknowns. We explore questions including: • Anchoring, framing and over-confidence – how do these impact dec...

This week we talk to Nitesh Patel, Head of Reserving at Argo, about his career journey. We discuss how “sliding door” moments can define careers and how the role of actuaries in the insurance market is growing. We explore questions including: • What are the skills you need to make the most of your career? • Tips for being a great mentor. • Why actuaries are playing a greater role in the leadership...

This week we talk to Charlie Stone about whether machine learning really could help insurers better predict the future, prevent losses and even give actuaries “superpowers”! Charlie is a Principal at LCP and leads LCPs InsurSight analytics platform. We explore questions including: • How is machine learning changing the way insurers operate and compete? • What should insurance actuaries be doing to...

This week we speak to Ed Johnson, head of Insurance Linked Securities (ILS) sales at Swiss Re for the EMEA and APAC regions, about the important role of ILSs in the global insurance market. We explore questions including: • How do ILSs fit into the overall strategy of a typical large insurer and investors? • How are COVID, climate change, inflation risks and other economic/social trends impacting...

This week we speak to Michael Hosking, CRO for a number of entities within the Berkshire Hathaway group about the risk outlook for 2022 and how general insurers are responding. We explore questions including: • How has COVID changed insurers’ approach to managing risk? • How are cyber, conduct and culture risks are evolving? • What skills are needed for the risk team of the future?

This week we speak to Richard Holloway about catastrophe events in 2021 and what general insurers should be thinking about for year-end. We explore questions including: • What have been the big cat events of the season and how has this differed from previous years? • How is climate change impacting catastrophes and how do we model them? • What should firms be considering ahead of the year end?

This week we speak to Graham De’ath about climate change risk modelling for general insurers and, in particular, how they can learn lessons from other institutions (such as pension schemes) who have had to comply with climate change regulations sooner. We explore questions including: • How can you model climate change risk practically and usefully? • How can climate change modelling help inform bu...

This week we speak to John Clements about investment strategy for non-life insurers. We explore questions including: • Inflation – what are the key investment risks and opportunities? • How is ESG affecting investment strategy? • What should insurers be looking to do with their investments right now?

This week we are talking to Cat Drummond, a Partner at LCP, about key trends in the general insurance market, drawing on insights from Cat’s annual review of solvency disclosures of the top 100 firms in the UK and Ireland. We explore questions including: • Are insurers’ balance sheets becoming stronger or weaker? • How well has the market coped with COVID-19? • Is the industry adequately prepared...

This week we are talking to Ed Harrison, a Senior Consultant at LCP, about inflation in the insurance industry. We explore questions including: • Why is inflation a hot topic for insurers right now? • What is social inflation? • How does inflation affect different aspects of insurers’ business models? • How can insurers tackle inflation risks in their day to day operations?

We talk to Tom Clementi, former CEO of MS Amlin Underwriting Limited. We explore questions including: • What three things should a good insurance CEO focus on? • How can an insurer build a culture that fosters long term success? • How can NEDs and the C-suite work together more effectively? • How can insurers compete in a post-COVID world and avoid being disrupted? • Are some insurers are getting...

This week show hosts Charl Cronje and Jessica Clark speak to Laura Hobern, a principal at LCP, about the sharing economy and how it will change the insurance industry. We discuss: • What the sharing economy is and examples of firms who work in this market? • How insurers need to change to meet the needs of the sharing economy? • What are the pros and cons of the sharing economy? • What opportuniti...

This week show hosts Charl Cronje and Jessica Clark speak to Stewart Mitchell, partner at LCP, on how environmental, social and governance(ESG) issues will change the insurance landscape. We discuss: - Examples of how ESG issues have already started to cause changes in the insurance industry. - Who should decide what insurers should (or should not) cover? - Are these changes good for business? - W...