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September stage for Bermuda Captive Conference

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The Bermuda Captive Conference this year will feature the first fully live event since the pandemic (Photograph supplied)

The 19th Bermuda Captive Conference September 12 and 13 at the Hamilton Princess Hotel & Beach Club will feature a novel dimension this year with the newly-launched Bermuda Captive Network.

Organisers say the creation of the cross-market organisation brings not just expanded membership and ownership of the conference, but more diverse thought leadership.

They say it will bring more cutting-edge panel discussions with a wider variety of dynamic speakers for the first post-pandemic, fully-live production.

The market will highlight the island’s continuing reign as the largest global hub for captive insurance.

It also features the largest concentration of captive management professionals.

Attending this year’s conference to meet with risk managers, captive insurance owners and prospects will be vendors and sponsors, together with legal, audit, banking and support services from Bermuda, North America, the Caribbean, Latin America, Europe, Asia, Africa and the United Kingdom.

The newly-launched Bermuda Captive Network could bring a different feel to the 2023 Bermuda Captive Conference (File photograph)

With nearly 700 active captive licences on its register, supporting primarily Fortune 500 corporations, and generating about $40 billion in annual gross written premiums, Bermuda is a truly mature captive market.

The BCC planning team said: “Delegates will have the opportunity to participate across an engaging conference that includes thought-provoking sessions and valuable networking opportunities.

“This year’s theme is ‘Adaptability’, highlighting the strength and stability of Bermuda’s captive industry. The newly-launched Bermuda Captive Network brings expanded membership and more diverse thought leadership to the table, allowing the event to offer cutting-edge panel discussions with a wider variety of dynamic speakers.”

This year’s event will explore the future of artificial intelligence in insurance, and, expert panelists will explore the challenges and opportunities facing captive owners in the areas of cyber threats, crypto, climate change and D&O (Financial Lines).

Discussions will examine how captive owners are taking proactive measures to mitigate these risks, exploring ways to address these emerging issues and continuing to shape the future of captive ownership.

Panellists will share insights on the potential of AI to transform the insurance industry, driving opportunities for greater efficiency, accuracy and customer satisfaction.

During one scheduled session, further scrutiny is expected on the ways in which AI is being integrated into various aspects of the insurance value chain, including underwriting, claims processing, risk assessment and customer engagement.

Conference programmers said: “We will also explore the ethical and regulatory considerations of AI, and the importance of responsible AI governance in the insurance sector, as well as the benefits and challenges of AI integration, as well as strategies for successful implementation and adoption.”

Also up for discussion is the future of banking, as experts from financial institutions provide the low-down on the latest macroeconomic trends and their impact on the banking sector, discussing strategies and best practices for mitigating risk and protecting captive policyholders in an increasingly complex and dynamic, global market.

Organisers pointed out: “This session will examine the key macro issues facing the banking industry, including regulatory changes, geopolitical risks, and economic volatility and will provide perspectives on how leading banks in the captive arena are addressing these challenges to protect their captive policyholders.“

The Bermuda Captive Conference some years ago at the Southampton Princess Hotel (File photograph)

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Published May 28, 2023 at 3:04 pm (Updated May 28, 2023 at 7:52 pm)

September stage for Bermuda Captive Conference

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