At a time when the property/casualty insurance business is going through major changes, one would think that the ranks of chief strategy officers would be growing.
Executive SummaryIs there room in the C-suite for chief strategy officers? Experts say there's a need for the position in the insurance industry but their numbers are dwindling at a time when they should be soaring. They see a role for CSOs to play in looking outward at emerging risks, competitors and potential partners on the path toward new ideas.
That’s not the case, says Tom Nodine, leader of the insurance strategy and innovation practice at KPMG US.
“I observe that these positions seem to be getting fewer and fewer among global multiline companies and that’s bad not good news,” Nodine told Carrier Management. “This industry is rapidly evolving through regulation, technology, demographics, environment and other factors,” he said.