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KPMG LLP is pleased to invite you to our 34th Annual Insurance Industry Conference, which will be hosted as a hybrid event!
The traditional insurance business model and, overall, the insurance landscape have significantly changed, with more instability and uncertainty than ever before. Inflation, customer expectations, climate risk and sustainability considerations, regulatory pressures, and new entrants are all areas that insurers need to consider as they grapple with their business model and priorities to drive growth. Long gone are the days of incremental changes with today’s insurers needing to accelerate changes to their business model and reassess business strategy to transform. The good news is that as we have seen over the past several years, insurance companies have shown the agility to make changes at a quick pace and can deal with the unexpected.
Despite the unpredictable environment and disruptions that exist, we believe the insurance industry is geared for growth. To hear about the latest trends, innovative thinking, and strategies to consider, join us at this year’s Insurance Industry conference where we will focus on how to ACCELERATE, TRANSFORM, and GROW. Our conference will be full of inspiring keynotes, insightful panel discussions, enlightening fireside chats, and more.
Whether in person or virtual, as an attendee, you can expect:
- A robust agenda with a blend of perspectives on key issues facing insurers today
- Innovative thinking and insightful content
- Creative strategies to help you address your challenges and achieve desired results.
- Networking and opportunity to connect with other insurance professionals to expand your network.
Please note that this is a hybrid event—and you can attend either virtually or in person at the KPMG Lakehouse*, our cultural home. Please note that in-person accommodations are limited, so it will be on a first-come, first-serve basis. Once capacity for in-person is filled, there will only be the option to attend virtually.
Continuing professional education (CPE)
You may qualify for up to 10 CPE credits. This conference is ideal for industry C-suite executives, board members, strategy and operations leaders, business unit leaders, financial and accounting senior management, risk and compliance executives, and senior tax executives/professionals. This is an intermediary, group internet-based event or in-person event, and no advance prerequisite is required.
*Lakehouse health and safety
KPMG protocols continue to evolve based on our commitment to the health and well-being of our people and to ensure that colleagues attending programs at Lakehouse can connect and collaborate with each other as safely and stress-free as possible. Please click here for the most up to date information on Lakehouse protocols.
About Tom: Tom has served as president, chief executive officer, and a director of Genworth Financial, Inc. since January 2013. Before joining Genworth Financial, Inc., Mr. McInerney had served as a senior advisor to the Boston Consulting Group from June 2011 to December 2012, providing consulting and advisory services to leading insurance and financial services companies in the United States and Canada. He received his BA in Economics from Colgate University and an MBA from the Tuck School of Business at Dartmouth College.
About Shari: Shari Friedman leads Eurasia Group’s Climate and Sustainability practice, focusing on environmental and social policies and trends affecting energy companies, industrial production, retail, supply chains, technology companies, agribusiness, and financial institutions. Shari and the team work across regions and sectors to help clients understand the evolving policies and how they will affect client’s business today and in the future.
About Patrick: Patrick is the CEO of Util, a financial tech company that uses machine learning and a massive evidence base of over 120 million peer-reviewed academic and scientific articles to measure how companies contribute to the 17 UN Sustainable Development Goals and thousands of sustainability themes.. Prior to joining Util, he was at Kensho, a leading financial tech company and World Economic Forum Tech Pioneer, where he served as Head of Sales and Business Development, and also as Head of Academic Research. In the latter role he built collaborations with leading academic institutions to use Kensho’s technology for teaching and research.
|Thursday, September 15|
|9:00 – 10:00 a.m.||State of the insurance industry||Are insurers on cruise control towards growth or is the road ahead a bumpy one? This session will take a look at where the insurance industry is today and what's on the horizon.||
|10:00 – 11:00 a.m.||Future industry landscape: what does it look like?||Technology, innovation, changes in regulatory policy, rising interest rates, inflation, and customer behaviors all impact the insurance industry landscape. This fireside chat featuring will delve into areas that are being considered in order to shape the insurance business model for the future.||
|11:00 – 11:30 a.m.||Break|
|11:30 a.m. – 12:30 p.m.||Is the hybrid work model…working?||We know that there is no going back to the traditional work model, but what is the hybrid work model? Is it working or is it fraying with the uncertainty and lack of clarity as to what it means? How will the fear of recession and possible cost-cutting initiatives impact the model? Join this session for insights into where we believe the work model is heading.||
|12:30 – 1:30 p.m.||Lunch|
|1:30 – 2:30 p.m.||Accounting and reporting update (Option 1)||
This session will provide Securities and Exchange Commission (SEC) and statutory (STAT) accounting and reporting updates.
|Customer data: Transforming a flood of data into streams of profit||Insurers who best harness the power of their customer data can gain tremendous advantages. As data sources continue to multiply, managing customer data across the enterprise and deriving insights becomes both more complex and more rewarding. This session will explore practical steps insurers can take to better organize their customer data and leverage analytics to offer an improved customer experience and gain valuable insights.||
|ESG in insurance||
Environmental, social, and governance (ESG) can have a significant impact across the whole business and insurance functions. This session will focus on what insurers are doing in the industry and how insurers can get engaged and advance their ESG plan.
|2:30 – 3:00 p.m.||Transition to breakouts/break|
|3:00 – 4:00 p.m.||Long duration targeted improvements||With implementation of ASU 2018-12, Long Duration Targeted Improvements, only several months away for SEC filers, join this breakout session as we share industry trends around disclosures and controls, approaches to sharing and communicating results with internal and external stakeholders, and leading practices regarding the transition to Business as Usual. This session will allow attendees to ask questions and share experiences and learnings as they prepare and look ahead to “go-live.”||
|Enabling operational transformation||Insurers today are faced with amazing opportunities and challenges like never before, including new entrants, dynamic products, savvy customers/agents/brokers, highly digital economy, and global influences such as pandemics and economic/political conditions. Leading insurers in the future will require flexible, scalable, highly digital organizations, people, technology, and operations. In this session, we will delve into how to prepare and manage through an operational and digital transformation leveraging various technologies to transform the policyholder, agent, broker,and worker experience in areas such as policy, claims, billing, and analytics.||
|M&A in insurance distribution||The U.S. insurance distribution sector has seen the highest levels of merger and acquisitions (M&A) activity within the industry for over a decade, with significant private equity involvement in the sector. There are key elements shaping the strategic options available in today’s insurance brokerage M&A environment that are key for acquirers considering whether to buy or build, or for those contemplating a divestiture. This session will provide insights and perspectives on recent trends and outlook for M&A activity in the sector and explore implications for the future of insurance distribution.||
|4:00 – 4:15 p.m.||Transition to general session/break|
|4:15 – 5:25 p.m.||Where are the economy and tax regulations heading?||Front and center are the economy and tax regulations as we recover from the pandemic and its impact. This session delves into these two critical areas and what it means to you.||
|5:30 – 7:00 p.m.||Networking reception/dinner||In-person attendees|
|Friday, September 16|
|8:00 – 9:00 a.m.||The Future of Risk Prevention||
Going beyond the ways of managing risks can be a game changer for the insurance industry. This session will focus on how the IoT can help shape behaviors and address risk in the industry.
|9:00 – 10:00 a.m.||ESG: Harvesting opportunity||This fireside chat will focus on how AI can be used to make better informed decisions and the opportunities that it may bring for insurers in the ESG era.||
|10:00 – 10:15 a.m.||Transition to breakouts/break|
|10:15 – 11:15 a.m.||Cyber risks||The cyber threat continues to bring new and changing risks to organizations. In this session, we focus on insights, trends, and responses to the dynamic trends shaping this landscape.||
Financial planning and analysis (FP&A) functions are focusing on advancing capabilities and automation. A key enabler is using driver models to enable advanced processes. During this session, we’ll discuss the KPMG driver model framework and the value that can be achieved.
|Inflation, inflation, inflation!||Inflation—it’s in the news, on everyone's mind, and being discussed everywhere. Labor shortages, supply chain disruptions, rising costs of goods and services, and auto costs, etc.—no business is immune from inflation! Property and casualty nsurance is no exception. This session will provide an overview of P&C industry actions to date and discuss options to evaluate and respond.||
|11:15 – 11:30 a.m.||Transition to breakouts/break|
|11:30 a.m. – 12:30 p.m.||Accounting and reporting update (Option 2)||This session will provide SEC and STAT accounting and reporting updates.||
|Creating a digital mindset||Organizations are going through their digital transformation creating the right mindset—a digital mindset is essential for success, and it must come from the top. Everyone in the organization has a role to play in creating this mindset, not just information technology or operations. It is not enough to just implement new technology, but how do you motivate employees to use their skills to create opportunities within your organization? Digital transformation is as much about the people and changing the way they approach business problems and where they look to find solutions. Join this session to discuss how to create a new way of thinking that enables people to see how to connect data, technology, and process in their day-to-day, fail fast and embrace innovation.||
|Evolving global insurance trends on capital and offshore activity||Rating agencies, specifically Standard and Poor’s (S&P), and regulators, including the National Association of Insurance Commissioners, have been actively looking at standardizing capital requirements across different regimes. The recent proposal from S&P has significant consequences in the U.S. and Bermuda. The panel will discuss business impacts to the insurers and reinsurers in the global insurance market as well as evolving trends in offshore jurisdictions and associated accounting, tax, and regulatory considerations.||
|12:30 1:30 p.m.||Lunch|
|1:30 – 2:30 p.m.||ESG: What are we seeing as the emerging trends||This session will focus on several areas related to ESG including climate risk, biodiversity, politics and social.||
KPMG 2021 IIC Highlights
KPMG 2021 Insurance Industry Conference highlights
KPMG US Highlights from the KPMG 2021 Insurance Industry Conference