Insurance News Magazine – June/July 2023

Suncorp’s Lisa Harrison

From the Publisher

One of the pleasures of working at Insurance News is getting to meet and interview industry leaders who really know their stuff. Sometimes we end up with routine interviews that don’t say a lot – executives can feel so constrained by their own organisations that we end up with an article that says less than we feel it should. But more often we find our suppositions being overturned by industry leaders who have no fear in telling you the problems they face and how they’re turning them into solutions.
So it is in this issue of Insurance News, where you’ll meet, among others, Suncorp’s Lisa Harrison and Lloyd’s John Neal. Ms Harrison is a mover and shaker inside and beyond Suncorp’s borders, pushing forward the next generation of leading men and women.
As John Deex’s interview with Mr Neal reveals, Lloyd’s is turning itself around, with a new emphasis on building business in its established markets. The plan to build outposts in the developing world seems to have been placed on the backburner, and the Australian market stands to benefit from its greater local focus.
Mr Neal sees opportunity in working with the top end of the market as well as expanding its reach through the underwriting agency sector. We’ll keep you posted as that plan progresses.
Also well worth examining in this issue is our report on emerging trends in the global market, compiled by consultants KPMG. Top of its list is resilience, with governments at last stepping up to address the effects of climate change and populations expanding into areas where floods, fires, storms “and all the rest” predominate.
In Australia, the Albanese Government’s Disaster Ready Fund is a good development – even if it’s very late to the party. The KPMG report is well worth reading as a record of where we’re at and the directions the industry can take to counter the onslaught of natural disaster risks.
This is an edition dominated by the perspectives of people and companies staring down weighty issues and their take on building a more responsive, professional insurance industry. I hope you find it stimulating and informative.


Terry McMullan