|Event Date||Mon Sep 13 EDT - Wed Sep 15 EDT (about 1 month ago)|
Through panel discussions and keynote speeches, the conference will examine the impact of Covid-19 on the insurance sector, with a particular focus on:
• Technology and trends in digitalization;
• Regulation/supervision at a global level; and
Bringing together speakers from the global regulatory/supervisory community and international organisations, the conference will be a forum for focused debate on some of the most important issues facing insurance supervisors today.
Top representatives from major (re)insurance groups, regulatory and supervisory authorities as well as renowned academics from around the globe will debate current and future key topics of international insurance supervision, focusing on global trends in risk-based supervision and the challenges linked to the implementation of global standards. This year’s conference explores key topics facing the insurance sector in the aftermath of the COVID-19 pandemic.
The insurance sector in a digital post-pandemic world. This panel will explore the impact of the pandemic on the insurance sector with a focus on technology and the trend towards digitalization which accelerated by the pandemic.
• What is the impact of new technologies in the insurance business?
• How can supervisors use the technologies to improve their work?
• Will it be overall more positive or negative for consumers?
• How can the privacy of data be ensured? Influence on consumer discrimination, i.e. algorithmic discrimination?
The future global insurance regulation
Before 2020 there were a number of flagship regulatory initiatives being developed (e.g. the IAIS ICS, the first global insurance capital standard; or the Holistic Framework on systemic risk). These will continue their development, but the pandemic “shock” has also attracted the attention of regulators across the globe.
This panel will explore regulatory developments, particularly those that are a
response to the pandemic, and the regulatory response in a recovery world, as
well as the efforts to build future resilience.
• What is the status of pre-Covid regulatory developments?
• Has the pandemic changed the objectives of regulators?
• What can we expect in the coming months?
The impact of the pandemic on protection gaps. Before the pandemic, the protection gap between insured and economic losses was a global concern. It affects people in both emerging and developed markets, and its impact is bound to increase due to factors such as climate change and extreme weather events as well as the demographic change and an ageing society. In addition, the pandemic has also unveiled a new protection gap, directly related to it.
This panel will explore the insurability of pandemic risks from different perspectives; and will focus on debating whether these risks are insurable.
• In which manner has the pandemic increased the pre-existing protection gaps?
• How does this pandemic gap compare to other gaps?
• What makes a risk insurable?
• How can protection gaps be tackled at the political, economic or policyholder level?
Chair, UN Sustainable Insurance Forum
Anderson Caputo Silva
Manager Long-term Finance Global Solutions Team, Finance, Competitiveness, and Innovation Global Practice, The World Bank Group
Managing Director, International Center for Insurance Regulation (ICIR)
Serap Oguz Gonulal, Lead Financial Sector Specialist, The World Bank Group
Deputy Director Monetary and Capital Markets Department, International Monetary Fund
Head, Research & Foresight, The Geneva Association
Head, Policy Department, EIOPA
Director General, BEUC
Principal Financial Sector Specialist, Asian Development Bank
Head, Public Sector EMEA, Guy Carpenter
Deputy Secretary-General, International Association of Insurance Supervisors
Director General, Insurance Europe
President, National Association of Insurance Commissioners
President, ASSAL and Superintendent of Superintendencia General de Seguros (SUGESE), Costa Rica
Chairperson Data Science/Artificial Intelligence workstream, Actuarial Association of Europe
Director, Institute of Insurance Economics I.VW, University of St. Gallen, Switzerland
Director, Federal Insurance Office, U.S. Department of Treasury
CEO, Moonshot Insurance
Chairperson of the Executive Board, Aon Holdings BV, and Aon Group International NV
Chair of Public Finance and Macroeconomic Dynamics & ICIR, Goethe University Frankfurt
Karel Van Hulle
KU Leuven and Goethe University Frankfur
Head, Unit, Conduct of Business Oversight Unit, EIOPA
• The World Bank