Creativeness in insurance will encourage new risk skills.

What struck me was the willingness of the different insurers, brokers, adjusters and buyers to talk freely about their different concerns and the clear desire on the part of everyone there to take the industry forward. It was a good debate, although inevitably for many the question at the heart of it all was whether this might mean the end of the so-called soft market. It is interesting to reflect on this as it seems to me that this fixation on hard or soft markets only serves to emphasise the transactional nature of the insurance marketplace. There remains plenty of room for insurers and brokers to be innovative in the development of improved products and services for their clients.

 

I see a strong correlation between this creative development and the evolution of insurance and risk roles required to address the needs of the fast changing issues that businesses face. These new roles may require a different mix of skills and this should attract and maintain the interest of the new generations of risk and insurance professionals.