The goal of Aon's fireside chats is to drive growth across the re/insurance industry in order to bring capital closer to clients' needs and enable them to flourish in a stronger economy. The series will discuss the challenges and opportunities facing major re/insurers and insurance buyers, sharing both perspectives.
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'We need to move well beyond the superficial; beyond the usual set of language, the usual things we tend to say, which, quite frankly, have no risk attached to them,' he said.
'Saying 'look at me, I don't have a bone of discrimination in my body' is a roundabout way of saying 'don't bother me, I don't want to do anything about this'.'
'The industry as a whole needs to say 'this is serious for us', and it should be, because there's a tremendous amount of talent out there that simply doesn't get the [appropriate] level of exposure.'
'It was remarkable, for an industry that people say doesn't embrace change, that when it was necessary, in one week, two weeks, a month, we saw a complete metamorphosis. And I think we have to take some learnings from that in terms of what we're capable of doing.'
In terms of COVID-19, he said that the total cost of the pandemic was far beyond the capacity of the re/insurance industry, which is why effective public-private partnerships were essential.
'We need to work with the public sector to ensure that the right backstops are put in place, so that when something like this happens again, it doesn't have the same devastating effect on economies.'
To watch the full interview and register for future fireside chats, please visit: https://aon.io/31YRfMP.
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