Public-private partnerships and insurance innovation

Public-private partnerships and insurance innovation

Identifying, cultivating and participating in partnerships requires organizations to think differently about the world in which they operate.

Global Head of Insurance

KPMG in the UK


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Seeing the world differently, leadership drives innovative thinking

In this video, Gary Reader, Global Head of Insurance for KPMG International shares his point of view on the importance of developing public-private partnerships with WRIN TV at the June 2015 International Insurance Society Global Forum held in New York.

“I firmly believe that the insurance industry has a fundamental andcentral role to play in the global response to issues such as climate change,natural catastrophes, financial inclusion and sustainability. But I also believethat for solid progress to be made, policymakers, intermediaries, developmentorganizations and regulators will need to update their understanding of the role that insurers can (and should) play.”

Based on our recent report Demystifying the public-private partnership paradigm: The nexus between Insurance, sustainability and growth, the video covers three roles we see the industry fulfilling in the drive toward sustainable development:

  • as a source of patient capital to fund resilient infrastructure projects,
  •  as a source of risk data and risk management expertise tostreng then government and community capacity and 
  • as a provider of risk transfer solutions.

In each case, insurers should be looking for ways to not only contribute their existing capabilities, capacity and experience but also to create new business models and opportunities. The bottom-line is win-win opportunities for both insurers and their partners.

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