The Insurance Information Institute's annual Joint Industry Forum — held at the Marriott Marquis in Times Square on Jan. 16 — received a refresh this year, with a change of venue and improved program offerings that included a lineup of CEO talent on a panel that was not to be missed.
AIG President/CEO Brian Duperreault; Bruce Kelley, President and CEO of EMC Insurance Group Inc.; and Argo Group President/CEO Mark Watson III were featured in conversation with moderator Michael Morrissey, president and CEO of the International Insurance Society (IIS). Three topics in particular were to be addressed: the insurance industry's impending talent gap, technology, and regulation.
The talent conundrum
As an industry, "we've always had a problem in recruiting" due to the common misperception that insurance is a boring, unsexy business, Duperreault said. The P&C business' loss of institutional knowledge, however, raises the stakes on an industry very much in need of some new blood — a need that will continue to accelerate in the next six to nine years.
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