The recent Global Insurance Symposium in Des Moines, Iowa saw Aegon CEO Lard Friese and Transamerica CEO Will Fuller stress the importance of the insurance industry remaining financially strong and committed to its stakeholders.
Against the backdrop of current economic, social, and geopolitical turbulence, on Wednesday, April 19, Friese told 400 insurance and finance industry regulators, policy makers, and peers: “In these uncertain times, our priorities as an industry must be making sure we’re rock solid, and that we’re helping our customers navigate in a way that helps them live their best lives. We need to make sure that we as an industry provide calm in the storm.”
Rising life expectancy and expanding insurance
The 60-minute panel discussion was moderated by Iowa Insurance Commissioner Doug Ommen and covered a wide range of topics, including opportunities afforded by rising life expectancies, expanding insurance coverage to middle- and lower-income consumers, and ensuring strong talent development. The different approaches to these trends that European and North American insurers are pursuing was also discussed.
The three-day Global Insurance Symposium was hosted by the Greater Des Moines Partnership, the Iowa Insurance Division, the Iowa Economic Development Authority, and members of Iowa’s insurance industry.
The event drew a wide range of insurance and financial services company executives, national and international regulators, state and federal government representatives, entrepreneurs, and startup tech firms. Friese and Fuller agreed that the theme of this year’s conference - ‘Thriving in a Changing World’- was particularly apt.
“There are values that are timeless, and perhaps these values become even more important in turbulent times,” Fuller said. “We as an industry need to think about how we address all segments of the market. We can be a force for good.”