I just returned from New Orleans, host city for the 2015 Risk and Insurance Management Society (RIMS) conference. Ferris State student Corey Bledsoe also attended the conference as an Anita Benedetti Scholar – I’ve asked Corey to share his impressions of the conference and will post his thoughts from a student’s perspective in the near future. Today, I’d like to share a few observations of my own from the conference.
First, cyber risk is clearly the burning issue that is keeping risk managers awake at night. Several informal surveys were taken in the exhibit hall and the results that I saw all pointed to cyber risk as the source of greatest concern. I attended an educational session on Tuesday morning that focused on insuring the cyber risk exposure – it was standing room only. I mean literally, standing room only and even standing room was scarce as risk professionals packed the back of the room, shoulder-to-shoulder, some even sitting on the floor. In several years of attending RIMS conferences, I have never seen an educational session as well attended as that one.
Second, the industry is well aware of the “graying” of its practitioners. As Corey will likely confirm, there were several events and conversations regarding the need to attract young talent to the risk and insurance profession. A good portion of the folks I saw at the conference this year will be retiring in the next 5-8 years.
Third, there are vast risk and insurance implications coming from the evolving notion of autonomous automobiles. In fact, we may not even own automobiles in the future, summoning an automated technological “carriage” to transport us as needed instead. There were a few different sessions addressing technological evolutions such as this, and if you want to see General Motors’ vision of a potential future, check this out. I am especially intrigued by the notion of roadways devoid of all traffic lights, though I cannot imagine the trepidation of cruising through one of these high-tech intersections inside one of those little carriages. It’s not for the faint of heart!
There was so much more that I could share from RIMS 2015, but perhaps I will use those topics as launching points for future posts. Great conference, great people, great city. Enough said.