This is the second in a series of brief interviews with speakers, presenters, moderators or panelists at the Society of Insurance Research Annual Conference and Exhibits, which is being held October 20-22 in Charlotte, NC. You can register for the event here: https://www.sirnet.org/SIRMember/Events/2019_Annual_Conference/Event_Collector.aspx
What is your name and what do you do?
- I am Associate Professor of Finance, Risk Management and Insurance at the University of South Carolina’s Darla Moore School of Business and I am Director of university’s Risk and Uncertainty Management Center.
- I am immediate past president of the Insurance Information Institute.
What is your role at the 2019 SIR Annual Conference?
If you’re presenting, what can attendees expect to learn from your presentation?
- My presentation is titled: “Research Renaissance: Rewriting the Rules of Insurance Research in an Era of Innovation, Disruption and Ambiguity.” I plan to discuss necessary changes in how the insurance industry and its partners in academia, government and elsewhere approach research in the fields of risk management and insurance. My presentations will include a comparison with approaches in decades past, with today along with the needs of the industry in decades ahead. I will also discuss how academic institutions are approaching this issue.
How did you get involved with the SIR?
- I was asked to speak at this year’s conference by organizers.
What do you see as the biggest challenges/opportunities for the Insurance Ecosystem in the next 5 years?
- P/C & Reinsurance: Overcapitalization producing sub-par returns over the long-run. Inability to deploy capital sufficiently quickly across new and emergent risks in a way that generates risk-appropriate rates of return
- Health Insurance: Politicization of health insurance markets; New partnerships of health insurers beyond the pure health insurance space (e.g., Aetna/CVS)
- Life: Potential opportunities from new federal retirement legislation that will provide annuity insurers with potentially significant opportunities (SECURE Act)
What is the best piece of advice you’ve received about building an insurance career?
- This is huge industry but with countless niches. Work hard and become THE expert in a couple of these areas. Your value will increase exponentially.