Isabelle Kwek, winner of the 2023 New Zealand Young Insurance Professional of the Year, believes young professionals can play a crucial role in steering the industry through the rocky road that lies ahead.

An Associate at Wotton + Kearney New Zealand, Kwek identifies greater financial and technological literacy, and commitment to diversity and inclusion as important attributes that young professionals can offer.

Rocky road ahead

The insurance industry is “bracing for impact”, Kwek says. “Climate risk, food insecurity, political and economic instability, and an ageing population will continue to create widespread disruption and place significant pressure on insurance to offer protection,” she predicts.

This will be compounded by the “exponential growth of technology, including artificial intelligence and the metaverse, which will require insurers to evolve their product offering and sales practices.”

Kwek argues that the next three to five years will be critical for the insurance industry to “rediscover how to maintain resilience in a post- COVID world.

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