Convergence 2024: Innovation In ILS Market
Convergence 2024 “will spotlight the transformative power of innovation in the insurance-linked securities [ILS] market by bringing together global experts to discuss regulatory frameworks, cutting-edge science, and market dynamics.”
A spokesperson said, “Convergence 2024, the premier event in the ILS marketplace, will spotlight the transformative power of innovation in the insurance-linked securities [ILS] market by bringing together global experts to discuss regulatory frameworks, cutting-edge science, and market dynamics.
“During the afternoon of October 9th, Convergence is focusing on innovation, with a series of sessions dedicated to the theme of Converging Innovation: Accelerating Science and ILS Solutions. Its final session, titled Sandboxes, Reforms and a Return to Basics – How Regulatory Innovation Can Promote Adaptation, Mitigation and Protection Gap Reduction will highlight how initiatives like the Bermuda Monetary Authority’s Regulatory Sandbox and the Lloyd’s Lab, along with support from regulatory bodies, are laying the foundation for a future where scientific advancements and regulatory innovation drive industry-wide transformation.
“The panel features a number of distinguished industry figures who will discuss the vital role of regulatory frameworks in fostering innovation. Tim Temple, Louisiana Commissioner of Insurance, George Alayon, Deputy Director, Supervision [FinTech] at the Bermuda Monetary Authority, and Rosie Denée, Head of Innovation and Academy at Lloyd’s, will share insights into how sandboxes and reforms are creating adaptive and resilient solutions in the insurance market.
“Moderated by John Huff, CEO of the Association of Bermuda Insurers and Reinsurers [ABIR], the panel features a number of globally recognized regulatory leaders who will discuss the power of regulatory innovation to unlock innovation in the markets, to support goals including expanding choice for consumers, closing protection gaps, fostering resilience and accelerating adaption to emerging risks, and ensuring coverage for novel areas of economic activity. The panel includes:
- Tim Temple, Louisiana Commissioner of Insurance, who has championed a “roadmap of solutions” in the critical coastal state
- George Alayon, Deputy Director, Supervision [FinTech] at the Bermuda Monetary Authority, who has led development of the Authority’s regulatory sandbox, and innovation hub
- Rosie Denée, Head of Innovation at Lloyd’s and director of the Lloyd’s Lab, supporting the acceleration of insuretechs in the market, and the delivery of solutions to challenging and developing markets worldwide
John Huff, panel moderator for the session, commented: “Insurance regulators around the world are working with a sense of urgency to champion reforms to leverage capital and capacity to address the ever-expanding insurance protection gap. This should be great discussion in Bermuda.”
The spokesperson said, “These regulatory initiatives, coupled with Bermuda’s innovative climate, make the jurisdiction an ideal incubator for the future of insurance and financial services.
“The session will conclude the two-day event, whose theme this year focuses on the critical challenges of our time—including climate risk, resilience, and market evolution, promising to deliver impactful insights from leaders across the insurance, financial, and scientific communities. Set against the backdrop of Bermuda’s reputation as a global hub for risk transfer and ILS, Convergence 2024 is a must-attend event and has a stellar line up of speakers, including the following keynotes:
- Professor Kerry Emanuel, Research Professor at the Massachusetts Institute of Technology, a leading voice on climate science and its impact on the insurance industry.
- Paul Craven, specialist in behavioral economics, who will shed light on how psychological insights shape market behavior and opportunities within ILS.
- Vice Provost Peter Schlosser, Global Futures at Arizona State University & Director of the Global Futures Laboratory, exploring the future of sustainability and risk management.
- Dr. Morton Lane, Owner & President, Lane Financial, a respected expert in catastrophe bonds and ILS structures.
“Additionally, sessions will include a broad range of ILS market thought leaders, alongside science innovators, regulators, managers and analysts. A full list of our sessions can be found at https://ilsbermuda.com/convergence.
“Convergence 2024 is an annual, highly anticipated networking event for thought leaders, innovators, and decision-makers in the ILS and reinsurance space. This year’s event will demonstrate how the convergence of regulatory innovation, cutting-edge science, and market forces is driving the future of risk management and resilience.
“To register for this year’s event, taking place on October 7 – 9, visit https://ilsbermuda.com/convergence.
“There are still a variety of sponsorship opportunities at this year’s event. To learn more, please get in touch at: convergence@ilsbermuda.com.”
