The forum will be chaired by current President of the CII, Julie Page, CEO of Aon UK. As well as exploring new and emerging risks, the UK-based forum will discuss the changing insurance needs of consumers and SME businesses and aims to produce guidance and key actions for further development.
Sian Fisher, CEO of CII, said: “The insurance profession is key to managing and mitigating the myriad risks that are present in our global society. For many consumers and SMEs, the pace of change is mounting and resulting in more risk exposure from their day-to-day activities. It is vital we look at ways to adapt, evolve and innovate our products and services in order to maintain the importance and relevance of insurance to the customers it serves.”
Exploring how to respond to challenges insurers face
Julie Page added: “Risks are more connected, more complex and less tangible than at any time in modern insurance history, with the backdrop of public opinion about the relevance of insurance becoming challenging.
“With the President’s Forum we are looking to use the neutral space the CII holds as a trusted convenor to further explore what we as a profession could do to respond to these challenges, as well as exploring wider accessibility to protection for increasingly unmet needs, which currently only have limited traditional market cover.
Increasing public trust
“We will be looking specifically at the current skillset of the insurance sector and comparing that with what needs to be done to enable and encourage the profession to meet the challenges of evolving risks and changing client needs, plus what can be done to improve public trust during this period of great uncertainty.”
Recently, CII launched a wellbeing hub for its members. The Institute says it wishes to support its membership of insurance professionals who are themselves doing their best to support a growing number of consumers finding themselves in ‘vulnerable conditions’.