Gary Bennett | Chairman and CEO, North Star Consulting Ltd
- Gary is the Chairman and CEO of North Star Consulting Limited.
- He has been a very senior leader in the life insurance industry.
Podcast
Overview
Life insurance has seen a remarkable evolution in recent years, adapting to the changing needs and expectations of policyholders in today’s dynamic landscape. This transformation has been significantly influenced by visionary leaders in the industry, and one such influential figure is Gary Bennett. Tune in to gain wisdom from a seasoned leader in the world of insurance.
[00:46] – About Gary Bennett
- Gary is the Chairman and CEO of North Star Consulting Limited.
- He has been a very senior leader in the life insurance industry.
- He has been recognised and felicitated several times.
[02:46] – How has life insurance evolved over the years?
- Changes include the evolution of compliance, regulation, and a stronger focus on customer-centricity.
- The emergence of bank assurance allows insurers to reach customers through banks.
- The proliferation and expansion of new markets have helped to reach more customers.
- The increasing use of technology has improved the customer experience.
[07:39] – Has the customer behaviour and expectations also changed over the years?
- Customers have become more sophisticated, informed, and tech-savvy.
- They use the internet to research and gather information before making insurance decisions.
- Consumers expect transparency, openness, and easy access to information.
- Trust and reputation play a crucial role in customers’ choices of insurance providers.
[11:54] – What is the perspective the regulatory environment has on the operations and strategies of insurance life insurance companies?
- Regulatory authorities have a significant role in ensuring the stability and fairness of the insurance sector.
- They set rules and guidelines that insurers must follow, particularly concerning capital adequacy and consumer protection.
- The level of regulation can vary by country, from light-touch to heavy-handed.
- Insurers must navigate these regulations to remain compliant while achieving their business objectives.
RESOURCES:
You can connect with Gary Bennett: LinkedIn
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Profile
- Gary is the Chairman and CEO of North Star Consulting Limited.
- He has been a very senior leader in the life insurance industry.
- He has been recognised and felicitated several times.
