What are you most proud of accomplishing in your career?
I’m very proud of creating the first catastrophe modeling company, AIR, and I’m most proud of reimagining and reinventing the catastrophe modeling industry with KCC’s impressive team of experts. It took even more tenacity and vision to build KCC’s accurate and open models and advanced applications for risk management.
What did being named an RGA Leader of Tomorrow mean to you?
The Emmett J. Vaughan Institute of Risk Management and Insurance administers the RMI Program which is housed in the Department of Finance in the Tippie College of Business. The University of Iowa’s Tippie College of Business is AACSB accredited. The Tippie College Undergraduate program is ranked 19th among public institutions in the US by US News & World Report.
What are you most proud of accomplishing in your career?
I am most proud of turning two ideas into reality. The first was Mid-Ocean Reinsurance in 1992 (which became XL Re) and the second is AXIS in 2002 which became the great company it is today. I am also proud of, in the process, helping make Bermuda a world center for (re)insurance.
What is the most important thing you learned from your LOT mentor?
Sungkyunkwan University is a top tier university in Korea with global ranking 100, and the Graduate School of Global Insurance and Pension is the first graduate school providing specialist programs, perceived also as one of the best quality graduate schools in SKKU.
Michael Morrissey, President & CEO, International Insurance Society, Inc.
Last month we presented our first report on the joint IIS and Institutes’ Global Concerns Survey of senior insurance company executives and other industry thought leaders. The objective of this annual effort is to examine “what keeps insurance CEOs up at night”. After delving into the survey’s responses on Economic Concerns in the last edition, we share results in May on Social & Environmental (S&E) Concerns.
What is the biggest challenge facing the industry in the next decade?
The ongoing technological developments – such as artificial intelligence (AI), robots, e-processing, big data and multi-cloud – represent the biggest challenge facing the industry, even though they also create opportunities. They will have far-reaching consequences for (re)insurers.
What did being named an RGA Leader of Tomorrow mean to you?
The University of Alabama has a proud heritage of teaching Risk Management, Insurance & Financial Services (RMI) and Actuarial Science (AS). The first insurance course was taught here in 1921, only five years after Dr. Solomon S. Huebner taught the first university course in the subject. Students have been qualifying for actuarial designations for decades and in 2007 a formal actuarial science program was established. Beginning in fall 2019 students may elect to take a newly established minor in RMI or in AS.