Linklaters Luxembourg: A snapshot review of tomorrow’s world
This year’s speakers at our annual Magenta Horizons Event presented a captivating glimpse of the future of the pensions and insurance industry. As the sector finds itself on the point of disruptive change, Etienne de Callataÿ, Chairman and Chief Economist, Orcadia Asset Management, and Marc Hengen, Managing Director, Luxembourg Insurance and Reinsurance Association (ACA), outlined their vision of what lies ahead. Each speaker examined the challenges, risks and opportunities we face and offered a clear analysis of the sweeping changes to come. Both describe a positive future where technology and innovative thinking are set to transform the industry.
On the one hand, on the other: an economic outlook of threats and opportunities
"We are moving to a world of tailored, personalised insurance policies. People may try to cheat, but big data will reveal a lot about consumers’ current and past behaviour. Incumbents may be uncomfortable with new, more agile competitors, but they are sitting on big data, so the game is definitely not lost."
Etienne de Callataÿ, Chairman and Chief Economist, Orcadia Asset Management
From Brexit to blockchain: the outlook for Luxembourg’s insurance industry
"Insurers have to change, otherwise they risk losing their client base. Technology can also make companies much more profitable through automation of more mundane and less creative tasks, including making regulatory compliance more efficient."
Marc Hengen, Managing Director, ACA
A winning combination
Linklaters Luxembourg offers deep-rooted local knowledge, a widely recognised international perspective and the agility a small jurisdiction such as Luxembourg provides. Together, this combination ensures we are ideally placed to meet the complex and evolving needs of the insurance sector. For more information about how our insurance practice can help guide you through the challenges of tomorrow’s world please contact Patrick Geortay or Eliane Dejardin Botelho.