Helen Pope’s last speech as Airmic chair: “The industry must do more to provide innovative solutions to emerging risks”

In her last speech as Airmic’s chair, Helen Pope urges risk managers, insurers and brokers to continue efforts to improve the industry on three fronts: greater collaboration between risk managers, brokers and insurers; increasing diversity; and improving the image of risk management.

Addressing nearly 900 delegates at Airmic’s annual conference in Liverpool ACC this afternoon, Pope said: “These are challenges that will not go away over night or indeed in a year’s time but we have made impressive progress in the past 12 months.”

On closer teamwork, Pope said: “Improving the relationship between insurance buyers and insurers is perhaps going to be the toughest nut to crack but we‘ve made a good start.

“Airmic has been urging the industry to do more to provide innovative and relevant solutions for new and emerging risks – areas that are potentially difficult for underwriters because there is a lack of relevant historical data and exposures are uncertain.

“The likely scale and demand for coverage demands co-operation across the wider market and such co-operation demands a true partnership and builds on the professions strong foundations of providing solutions to business needs.”

She hailed the work Airmic has done to produce Insight Risk Manager, citing this as an example of greater collaboration: “In my own dealing with the market, I see improvements all the time. There’s a much greater general awareness that insurers need to treat us [risk mangers] better.

“Our partnership with brokers and Axco has seen the delivery of Insight Risk Manger. I was able to officially launch [the global compliance database] at my first day as Airmic’s chair last year in Birmingham.

“The product has now gone worldwide, with RIMS, FERMA and PARIMA at various stages of taking it up. I am delighted it succeeded – there were an awful amount of people that said it couldn’t be done.”

On gender diversity, Pope is happy with the progress made so far to promote women at board level, citing Airmic’s board as an example. Women make up 25% of the association’s board and 75% of its secretariat.

Last on the improving the image of risk management, Pope urged the industry to continue its efforts to attract new and young talent.

Although fastTrack has is doing well to engage inexperienced risk managers – with nearly 200 members signed up so far – Pope said: “We need more young talent across the board – insurers, brokers as well as risk managers. It’s incumbent on all of us to ensure that our profession continues to attract the brightest and the best and truly becomes a career of choice.”