It is our last day today at the IUMI annual conference and what a day it has been. At breakfast you could see our delegates were bright eyed and bushy tailed, perhaps not as much as day one thanks to the fun evenings out, but nonetheless ready for the day ahead.
The morning kicked off with our Loss Prevention workshop and Pascal Dubois, Loss Prevention Chair, opened the session urging the industry to take a more holistic approach across all lines of business to mitigate risk. Pascal discussed how loss prevention can support increased profitability in three fundamental ways; by offering a better service to clients through knowledge; by offering a better service to clients through innovation; and finally, by offering a better service to clients through sustainability.
Next up was the President’s workshop and our President, Richard Turner, hosted an informative and stimulating session on the emergence of digitisation into underwriting. Digitalisation presents a number of concerns to underwriters but also provides opportunities and efficiencies to the industry. Two interesting case studies were illustrated during the session to show the old versus the new ways of underwriting. What is for sure is that the ‘new’ is here and we need to embrace it if we plan to operate sustainably.
As always, we closed the conference with the handing over of the IUMI flag, this year to the Swedish Delegation as next year’s conference will be in Stockholm. We would like to take the opportunity to thank the CBMU (Canadian Board of Marine Underwriters) for their kind hospitality and great organisation. Canada is a wonderful country filled with warm and friendly people – thank you for making this year’s conference so great.
Now we all know that there is one last hurrah before we leave so please put on your best attire for the final social event of the conference - the Canadian evening. The event will be held at the Liberty Grand Entertainment Complex and is set to be an impressive affair. The Liberty Grand was built in 1926 and is one of Toronto’s few heritage complexes decorated in traditional early 1900’s elegance. Just between you and me I have heard a rumour that tonight there will be dancing - see you on the dance floor!