Over 200 people attend Insurance News conference
Insurance News recently hosted its Outlook 2025 conference in Sydney, drawing in more than 200 attendees from the insurance industry. The event took place at the prestigious Doltone House Hyde Park, where professionals were handed a comprehensive market outlook report upon arrival.
At the conference, Finity principals Susie Amos, Pravesh Ponna, and insuranceNEWS.com.au’s editor-in-chief John Deex delved into the current state of pricing in the industry. Their analysis revealed a landscape characterized by softening conditions, intense competition, and a challenging market environment. A survey conducted among the audience shed light on their perspectives, with 42% acknowledging a soft market in commercial lines and 47% emphasizing the diversity of current conditions, making generalizations difficult.
When asked about the duration of the soft market, responses varied. 42% anticipated it lasting one to two years, while 27% believed it could continue for two to three years. Others were split between projecting a longer duration, a shorter timeframe, or denying the existence of a soft market entirely. The conference also featured discussions on the future of insurance until 2050, with representatives from Berkley Re, Edgewise, Insurtech Australia, and Coalition engaging in thought-provoking dialogues.
Industry stalwart Richard Enthoven delivered a keynote speech highlighting how the insurance sector is carving out a larger share of the GDP from other industries. Additionally, leaders from organizations such as the Insurance Council of Australia, Allianz, and the Financial Rights Legal Centre explored the challenges posed by escalating home premiums. Regulators from ASIC and AFCA addressed the importance of transparency in the industry and set expectations for compliance.
The conference came to a close with a high-powered CEO panel featuring executives from CGU, Lloyd’s, Suncorp, Liberty, and WTW sharing their insights and expertise. The success of this year’s event was made possible by the support of gold partners Finity and Liberty, as well as sponsors like Allianz, AAMC, and Australia Underwriting.
Overall, the Outlook 2025 conference proved to be a valuable platform for industry professionals to network, exchange ideas, and gain a deeper understanding of the current trends shaping the insurance landscape. With engaging presentations, interactive discussions, and expert insights, attendees left the event equipped with the knowledge and connections needed to navigate the evolving challenges and opportunities in the insurance sector.
