Aegon CEO Lard Friese and Transamerica CEO Will Fuller stressed the importance of the insurance industry remaining financially strong and committed to its stakeholders despite current economic, social, and geopolitical turbulence during a keynote discussion at the Global Insurance Symposium in Des Moines, Iowa, on Wednesday, April 19.
“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,” Friese told the audience of approximately 400 insurance and finance industry regulators, policy makers, and peers. The discussion with Friese and Fuller was moderated by Iowa Insurance Commissioner Doug Ommen. “We need to make sure that we as an industry provide calm in the storm.”
The 60-minute ‘fireside chat’ 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, as well as the different approaches to these trends that European and North American insurers are pursuing.
“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.”
This year’s conference theme, ‘Thriving in a Changing World,’ was particularly apt, Friese and Fuller said. Hosted by the Greater Des Moines Partnership, the Iowa Insurance Division, the Iowa Economic Development Authority, and members of Iowa’s insurance industry, the Global Insurance Symposium drew a wide range of insurance and financial services industry executives, national and international regulators, state and federal government representatives, entrepreneurs, and startup tech firms over a three day period.
