Mervyn Skeet: Shaping UK Insurance Policy | TRP #117
Mervyn Skeet, Director of General Insurance Policy for the ABI, joins us to discuss the delicate balance between industry regulation, consumer needs, and insurer profitability. Learn how the ABI helps shape policy, navigate challenges like motor affordability, and address emerging risks, including the vital role of data and AI in the future of insurance. EPISODE LINKS: Mervyn's LinkedIn: https://www.linkedin.com/in/mervyn-skeet-26702696/ Association of British Insurers: https://www.abi.org.uk/ CONNECT WITH US: Say Hello: producer@thereinsurancepodcast.com Website: https://www.supercede.com LinkedIn: https://www.linkedin.com/company/supercedehq Twitter: https://twitter.com/SupercedeHQ YouTube: https://www.youtube.com/@SupercedeHQ RSS Feed: https://anchor.fm/s/7e741c8c/podcast/rss OUTLINE & TIMESTAMPS: (00:00) Intro (01:01) The Journey Into Insurance (02:01) Association of British Insurers (03:43) Importance of ABI (04:59) Social Need Vs. Insurer Profitability (07:08) Managing Stakeholders (10:41) Attracting Reinsurance Capital (12:21) Growing Risk Areas (15:55) Data to Close the Coverage Gap (17:56) AI & Policy Conversations (20:40) Siloed Systems in Insurance (22:09) Setting Standards (24:15) Changing Risk Profiles (26:16) Insurance Careers (30:48) Are You Self-Insuring? (33:09) Communicating With the Market