Deloitte: Technology to transform life insurance in 10 years

By Rob Starr, Content Manager, Big4.com

The Financial Services Council/Deloitte Future Leader Award winner for 2012 is Kim Cohen, an actuary in life insurance pricing at BT Financial Group. Her chosen topic was to consider transforming underwriting and claims management in life insurance.

John Brogden, CEO of the Financial Services Council said: “It is vitally important that our $1.8 trillion industry continues to grow, and through such initiatives as our Financial Services Council, Deloitte Future Leaders Award, which is now in its seventh successful year, we will assist the young professionals in our industry mature into future leaders.

“By combining the new thinking of our youth with the experience and wisdom of our senior executives and mentors, we will enrich and grow the industry,” Mr Brogden said.

The five FSC/Deloitte Future Leader Award finalists 2012 were:

1. Luke Riboldi, BT Financial Group – ways the Government’s FoFA reforms will ‘underpin trust and confidence in the financial planning industry’
2. Edward Fletcher, BT Financial Group – reducing barriers to the Australian financial services industry accessing international markets
3. Kim Cohen, BT Financial Group – transforming underwriting and claims management practices
4. Stephen Martin, Challenger Limited – how Australia should address longevity risk
5. Joshua Manning, MLC – how MySuper will affect superannuation investment.

The Award program is open to current employees of Financial Services Council Full Member companies, APRA, ASIC and AUSTRAC. Participants must be under 30 as at 1 January 2012 and permanent residents of Australia. All participants were supported by their CEO and a senior mentor from within their organisation. They were asked to submit a 2500-4000 word paper on one of the five ‘hot topics’ in the Industry.