Insurance Sector Dinner
Inflexion hosted its latest sector dinner focused on some of the challenges and opportunities facing the insurance industry in the UK.
Mark Wood, who formerly headed AXA Equity & Law, AA Insurance and Prudential UK and Europe, started the table discussion with some thoughts on major risks facing the industry. Having founded Paternoster in 2005 funded with £500m by Goldman, he is now a serial board member and investor who sits on the RAC board among others. Mark’s list of his current bigger concerns was headlined by the uncertainty around the outcome of the upcoming EU referendum and also included possible regulatory and tax changes which would impact industry profitability.
Other guests, which comprised Chief Executives and Chairmen in leading insurance companies, both listed and privately owned, also discussed how the industry was responding to new technologies, whether to improve internal processes to enhance efficiency or providing more granular data around risks, as in case of telematics.