Insurtech, new risks and the growing involvement of the capital markets are all making the re/insurance industry more attractive to young people—and they look increasingly critical to its future. As part of a wider feature available online, Intelligent Insurer speaks to 45 young executives—all under 35—destined for success within this evolving sector.
For a very long time in its history, the reinsurance industry was renowned for its dull stability. In fact, given its primary function in the world—having the capital to pay big claims after extraordinary events—there was little wrong with that. But that was its reputation and it also meant it didn’t seem like the most exciting industry to start a career in.
Then came increasingly sophisticated cat modelling and then insurance-linked securities and sidecars offering a growing number of links to the capital markets—suddenly insurance was developing a cutting edge and a link to an industry deemed far more dynamic by younger people.
All that helped to start to change the image of an industry with a long-term problem attracting the best talent. In recent years, this process has accelerated further. It now appears that the rise of insurtech has melded the potential of Silicon Valley with risk transfer in the minds of many young people—and they are more attracted to joining the industry as a result.
Insurtech, Rising stars 2018, Insurance, Reinsurance, Marsh, SCOR, Tokio Millennium Re, Channel Syndicate, Global