2023 NAIC International Insurance Forum Concludes with Discussions on Technology, Infrastructure, and Foreign Affairs
Key issues on the minds of insurance regulators, the industry, and consumers in the U.S. and across the globe continued to take center stage today as the National Association of Insurance Commissioners (NAIC) concluded its 2023 International Insurance Forum in Washington, DC.
This morning, Massachusetts Division of Insurance Commissioner Gary Anderson, who chairs the NAIC’s International Insurance Relations (G) Committee, welcomed participants back for Day Two and introduced the event’s second keynote speaker, Catholic University of America Professor and History Department Chair Michael Kimmage, who delivered a talk on “What Makes a Long War: Russia, Ukraine, 2023, and Beyond.” Following his keynote, Professor Kimmage and attendees delved even deeper into the issues surrounding the war and U.S./Russia relations during an audience Q&A.
Next, NAIC Most Recent Past President and Idaho Department of Insurance Director Dean L. Cameron took the stage to moderate the day’s first panel, “Innovating Smarter – Technology’s Impact on Policyholders.” New technologies, such as big data, artificial intelligence (AI), and machine learning, have revolutionized insurance, but they have also raised new questions and risks. Lauren Cavanaugh (Director, Risk & Regulatory Consulting), Josh Hershman (Executive Vice President of Insurance, FairPlay AI), Dennis Noordhoek (Director, Public Policy & Regulation, The Geneva Association), and Jane Rheem (Chief Data & Analytics Officer, Zurich North America) joined Director Cameron in exploring current thinking on these topics and discussing how to avoid unintentional bias while leveraging technological innovations.
After a short break, this year’s Forum wrapped with a panel on “(Re)building the Future – Insurance Sector’s Role in Infrastructure.” Moderated by Michigan Department of Insurance and Financial Services Director Anita G. Fox, the panel looked at the insurance sector’s role in infrastructure and how the industry can support the future of (re)building as policymakers address aging roads, bridges, facilities, and organizational structures. Jim Hempstead (Managing Director, Moody's Investors Service), Martin Mair (Vice President - Government Relations, MetLife), and Jean-Gabriel Pierre (Head of Investment Strategy & Alternatives, AXA XL) spoke with Director Fox for this final session.
Collaboration remains essential to protecting consumers and successfully tackling the marketplace’s challenges today and into the future. Each year, the NAIC International Insurance Forum furthers this important work by drawing attendees from around the world, and as the 2023 edition wraps, we’re already looking forward to next year's event on May 16th and 17th! Stay tuned in early 2024 for registration information and program updates!
About the National Association of Insurance Commissioners
As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (NAIC) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally.