Chief risk officer to forecast insurance industry trends at upcoming forum

In the rapidly globalising market, the seasoned risk officer stresses the importance of understanding global influences and embracing collaborative approaches to industry challenges.

In a rapidly globalising market, understanding the shifting dynamics and preparing for the emerging trends is vital for industry stakeholders. Angela Rowley, Chief Risk Officer at FWD Life Insurance, who brings with her an enriching journey spanning across 35 years in nearly 20 countries, seems to embody this principle thoroughly. 

As she gears up to be a panelist at the much-anticipated Insurance Asia Forum scheduled this October in Manila, she shares her insights and the unique perspectives she will be sharing at the event.

Rowley emphasised the necessity of an international perspective in the current globalised scenario. 

"We are very much a global society. We can't just think about what's happening in the Philippines. It's got to be happening worldwide, and how things can affect us," she stated, underlining the interconnectedness of events and trends that span borders and continents.

But what are these global trends, and how are they shaping the insurance industry locally and internationally? 
According to Rowley, one significant aspect lies in the complex regulatory frameworks that companies now have to navigate.

"You can be working here in the Philippines, but working for a company based out of the US. So you have a lot more regulations, which can affect you, no matter where you are in the world.

Especially when we look at data protection, we have to be aware of where the jurisdiction starts and how we might have to adapt to regulations," she explained.

Rowley also hinted the intricate jigsaw of legislations that companies in the Philippines and elsewhere must piece together.

Yet, with challenges come opportunities. Rowley hopes that the forum will be a breeding ground for collaboration and networking, helping industry players forge alliances and learn from each other's experiences.

"The key focus points should be where do we go from here and who do we reach out to for help? It's about networking with each other to say, 'Hey, look, this is how we dealt with it in this company, and this is what we can do for you now.' It really is that chance to refresh contacts, work together, and globally come to solve the problem," she said, emphasising the potential synergy that can be created through collaboration.

While her insights span a broad spectrum of topics, from technological advancements given her background in software development to tackling multifaceted risks in her current role, the central theme remains a commitment to understanding and adapting to a rapidly globalizing environment.

As the industry gears up to convene at the Insurance Asia Forum, Rowley's presence promises to bring a wealth of experience and a deeply nuanced perspective on the challenges and opportunities that lie ahead.

Rowley seems eager to engage in a fruitful dialogue at the forum, encouraging attendees to come prepared with questions and to be ready to dive deep into discussions that could shape the future trajectory of the insurance industry in Asia and beyond.

"I look forward to everyone's interaction. Please be prepared. If you have questions, please ask them," she urged, signaling her readiness to foster an environment of learning and interaction at the forthcoming event.

For more insights and the opportunity to connect with industry leaders, sign up for the 2023 Insurance Asia Forum on insuranceasia.com.