Thank you everyone who attended, presented, and assisted in the coordination of our Annual Conference, held virtually last month.
It is hard to believe it’s been two and a half years since we held the Byron Bay conference, and the numbers attending Byron Bay were about the same as attended this conference. When you consider that 50 per cent of this year’s attendees were attending their first Unimutual Conference, and 25 per cent are new to the sector, we can see the degree of change that is impacting the Higher Education environment.
Our conference theme, ‘Disruption – The Creator of Opportunities,’ proved time and again to be relevant. Here at Unimutual, dealing with the consequences of disruption is day-to-day business, as we act to ensure the most positive outcomes for our Members. We do this in several different ways; acting proactively to identify potential risk exposures and recommending risk aversion or mitigation approaches. We act reactively when a disruption impacts Members’ operations; for example, the damage and economic loss caused by the consequences of climate change events including floods, hail, tornado, and bushfires – all of which have occurred over the past year – in increasing number and size.
As we heard throughout the conference, disruption can be a driver of positive outcomes or, if left to its own devices, can have significant negative consequences. It is how we deal with disruption that makes a difference. I hope this year’s conference equipped you with new ways of managing and perceiving unforeseen disruption and helped you to better prepare for unavoidable change.
If you were unable to attend the conference or would like to review the conversations and presentations, you can do this via our website. The summary page with links for each session can be found here.
A special thanks to each of our guest speakers who delivered incredibly engaging and informative presentations on an array of topics. Each session offered unique insights, including:
The Roadmap is well underway following an extensive Strategic Review and Planning Sessions. We currently have 24 projects we would like to explore, but unfortunately, do not have the capacity to undertake all 24 immediately.
The projects we believe have the most value for Members and their Brokers that we will focus on are:
I will provide more detail during our soon to be announced Roadmap ‘22 Webinar.
We have all seen the devastation and consequences of the recent weather-related claims in our own backyard as well as the well-publicised tornadoes, floods and wildfires elsewhere in the world.
The impact of the increased frequency higher cost of climate driven weather-related losses is driving meaningful change to insurers and reinsurers underwriting and retention policies.
As you would expect, Unimutual being part of the regulated insurance industry, and dependant on global and local insurer and reinsurer support are affected by these changes. These take the form of the Unimutual being required to increase our retentions, will certainly increase rates, and may require us to consider weather related sub-limits.
At this point we do not have any specific indications that we can reveal. You may rest assured however that we will continue to press for the most favourable terms and conditions available and will make you aware of these as soon as we have clarity ourselves.
Climate change is creating disruption and tougher times for all either directly or indirectly but for some more than others.
It is how we handle that change makes the difference.
On that note I am pleased to be able to report that the Unimutual team acted quickly and effectively to put those Members affected by the recent events in the best possible position given their specific needs.
We will continue to meet all Members needs in this way, in some cases over several years if necessary.
That is our purpose.
Managing Director & Acting CEO
t: (02) 9250 2800 m: 0401 587 058
Read previous CEO Connect newsletters here.