OLDWICK, N.J.--(BUSINESS WIRE)--In this A.M.BestTV episode, insurance professionals attending the Philly I-Day in Philadelphia, PA, discuss the role of the insurance industry in the U.S. economy and how it drives economic growth through investments and financial protection products. Click on http://www.ambest.com/v.asp?v=phillyiday418 to view the entire program.
The economics of insurance is changing on an almost daily basis as new risks, insurance technology and changing distribution channels are hot-button issues.
“Insurance is very important in terms of providing services for areas like cyber risk and climate change,” said Michael Elliott, senior director of knowledge resources, The Institutes. “In the future it will be very important in terms of helping economic growth by actually providing resilience-type services, and insurance companies will really change in terms of their role in the economy.”
“In the investments that insurance makes, we are developing and investing in bonds and community growth initiatives, which are driving economic growth,” said Sean Kevelighan, president and chief executive officer, Insurance Information Institute. “Insurance also provides a great way to preserve, protect and infuse capital into the system. Those are just a few ways that insurance drives economic growth and is fundamental to a developed economy.”
Also appearing in this episode:
- Andrew Robinson, executive in residence, Oak HC/FT; and
- Christopher Hampshire, assistant vice president, Gallagher Bassett Services.
For full video coverage of Philly I-Day, including exclusive executive interviews, visit http://www.ambest.tv.
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