Martin Shaw, chief executive, Association of Financial Mutuals, said U.K. mutual financial organizations have seen exceptional growth since the global 2008 financial crisis.
Hilde Vernaillen, chairwoman, International Cooperative and Mutual Insurance Federation, said many insurers are limited in their home markets by legacy technology.
Inga Beale, chief executive officer, Lloyd's also said that Lloyd's has tallied more than $4.5 billion in initial storm losses, with more claims to be paid as natural catastrophes continue around the world.
Bill McKinney, vice president, strategy and long-term development, Thrivent Financial, said the same tools that are changing the insurance environment in the developed world can be deployed in developing regions.
Alec Catsuros, senior product manager - digital experience, Thrivent Financial, said consumers have come to expect quick access to products and services, which puts slower-moving insurers at a growing disadvantage.
Copyright © 2017 A.M. Best Company, Inc. and/or its affiliates ALL RIGHTS RESERVED.
