June 12th, 2019

Marsh & McLennan Stresses Next Generation Industry Leaders Must “Adapt or Face Extinction”

Posted at 9:34 AM ET

Marsh & McLennan Companies’ Rising Professionals’ Global Forum 2019 opened in London today, with approximately 700 delegates attending the two-day event to hear from world class speakers on the central theme for the Forum – Adaption or Extinction.

Marsh & McLennan has sponsored this event since 2013, which brings together current and future industry leaders. The Forum will culminate with a Gala Night celebrating the insurance industry’s extraordinary talent. All profits from the gala will be donated to Mind, a mental health charity.

Commenting on the event, Dan Glaser, President and CEO of Marsh & McLennan
Companies, said: “The world needs the insurance industry firing on all cylinders to address the most complex challenges and opportunities of our time—to enable investment, innovation and growth. It’s on us to engage and educate the best and the brightest to lead our industry forward, which is why we’re committed to the Rising Professionals’ Global Forum.”

Addressing the theme of Adaption or Extinction, Victoria Carter, Chairman of Global Capital Solutions, International, and Chairman of the Rising Professionals’ Initiative, said: “As a market, we have provided the financial security through our products that has facilitated the phenomenal speed of innovation and technological evolution achieved in recent years; yet we have not kept pace with that change. Digital transformation is reshaping the world we live in and fundamentally altering the way we interact with our customers. It is creating huge potential for our industry while simultaneously offering us the ability to grasp that potential.”

“If we are not only to survive but to thrive in this new world,” she continued, “it is imperative that we acknowledge our customers’ expectations, harness these new technologies to meet those expectations and get ahead of this fast-changing environment.”

Over the next two days, rising professionals from more than 60 organizations across the
international (re)insurance market will glean insights and perspectives from an impressive group of speakers.

Spanning the insurance sector and other industries, speakers include: Sir Richard Dearlove, ex-Head of MI6 and Chairman of the Board of Ascot Underwriting; John Neal, CEO of Lloyd’s; Trevor Maynard, Head of Innovation, Lloyd’s; Jason Stockwood, Vice Chairman, Simply Business; Mark Dowds, Chief Strategy Officer, Trov; Siobhan O’Brien, International Cyber Practice Leader, Guy Carpenter; Barney Schauble, Managing Principal, Nephila Advisors; Gareth Thomas, former Welsh international rugby player; and Martin Pert, Squadron Leader, Red Arrows.

Presentations will cover critical market challenges, including: the impact of Brexit; Lloyd’s and its position in the global market; disruptive innovation trends and cyber risk. Speakers will also explore the impact of a ‘new international order’, the ever-evolving world of capital and the growing effects of climate change, and what these fundamental changes mean for our industry today and in the future.

Click here for more insights from Guy Carpenter >>

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