On Thursday November 1, the Minister of National Security, the Hon. Wayne M. Caines, JP, MP, spoke at the PwC Insurance Summit Strategies for Success in the New Reality presented by Financial Times Live and PwC held at Fairmont Hamilton Princess.
The one-day summit, was in recognition of the urgency to become technology-driven as re/insurers are moving quickly to harness developments in artificial intelligence, data analytics, blockchain and other solutions to drive both cost savings and growth going forward. It also recognized the need to rethink not only of how innovation leaders identify opportunities ripe for disruption, but also how to bring an entire organization up to speed as the risk landscape and reinsurance market changes. The summit included a gathering of more than 200 industry leaders, experts and professionals to discuss trends and strategies to adapt and thrive in the fast evolving insurance and reinsurance market.
Minister Caines joined a live panel discussion titled ‘Spotlight on Blockchain: Strategies for the Road Ahead’. He spoke about Bermuda’s strength of having a well established legislative and regulatory environment, a nourishing environment for startups, and the many ways blockchain will be used to improve government efficiency and make life easier for individuals and businesses.
At the conclusion, Minister Caines said, “This was a great opportunity to speak at the PwC Insurance Summit – Spotlight on Blockchain as it allowed me to continue spreading the message that Bermuda continues to be open for business. We are the ideal location for fintech, and as a leading domicile for insurance/reinsurance, we plan on leading in the insurtech space as well.”
Photos: Minister Wayne Caines with panel members L-R – Moderator – George Thomas, Senior Advisor, Advisory Services, PwC Bermuda, Andre McGregor, Partner and Global Head of Security, TLDR Capital and former FBI Cyber Special Agent, Susan Joseph, North America Representative, B3i and Minister of National Security Wayne Caines