Evolving our Insurance Community in 2024

POSTED BY Giuseppe Aloi | 20 FEBRUARY 2024

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At the end of last year, ORX held direct discussions with our insurance members to enhance the 2024 agenda for the ORX Insurance Community. These talks were also a chance to exchange insights into the specific objectives of individual firms within the group.

The primary takeaway was that most participants expressed an interest in sharing practices and gaining knowledge from one another, thereby confirming the mandate of ORX's Insurance Sector Governing Committee (ISGC).

Main points emphasised by our insurance members

Despite the differences between insurance members in size, jurisdiction and business type, there exists considerable common ground across the group

Creating connections and opportunities for networking will be fundamental for the group

Aligning ORX work with the insurance sector is essential for maintaining relevance within the industry

How ORX is responding

Ensuring that ISGC meetings are as interactive as possible and led by members

Introducing key contacts to their peers and advocating for direct communication among group members

Increasing the opportunity to meet face-to-face to boost networking

Encouraging participation in other ORX working groups, activities and studies

Plans for 2024

Adapting our insurance activities in response to our members’ needs

The agenda for the ISGC, and the wider ORX Insurance Community, is shaped by our members. We encourage member to suggest the topics they'd like to be covered by the meetings. Some of the ISGC activities planned for H1 include:

Focus calls where participants will have the chance to discuss DORA implementation

Exploring how ISGC members use ORX loss data, with the aim of allowing everyone to share practice, gain insight, and make better use of the data for multiple purposes

To support these activities, ORX will be running a short snap survey with the ISGC in February to plan sessions for the rest of the year.

Launching a series of insurance-specific forums

To facilitate face-to-face interactions for the majority of insurance members, two main events will take place:

European Insurance Forum: Kindly hosted by Generali, this event will take place on 10 and 11 June 2024 in Milan (Italy). Invites will be sent out to our insurance members in the next couple of weeks.
North America Insurance Forum: This forum will take place in New York in the Autumn. Exact dates and venue will be communicated in Q2.

For both events, we will make provision for two delegates per firm, typically the Head of ONFR and a direct report.

In addition, LeadersConnect Live, our flagship senior event in London, will include an insurance focus. This will involve only Heads of ONFR or equivalents and will provide a platform for more strategic discussions.

How you can get involved

If you're already a member of ORX, then you can register for our Insurance Community to keep up to date with all activities or you could join one of our insurance-specific working groups (the ISGC or the Insurance Definitions Working Group).

If you're not yet a member of ORX, get in touch to learn more about how we support insurance firms to enhance their operational and non-financial risk management.