Insurance Ireland

🎉 Celebrating Success: Reactivate Workforce Returners Programme Graduation 🎓 IFS Skillnet, in collaboration with Adaptas Training Ltd., proudly celebrates the Reactivate Programme's successful conclusion—an impactful initiative designed to equip professionals with the skills to re-enter the workforce within Ireland's fast-evolving financial services sector. As the industry faces a talent shortage, the Reactivate Programme has provided essential training in areas such as ESG & sustainable finance, data analytics, digital finance, risk & compliance, and more—skills that are vital for meeting the growing demand in the sector. Dave Flynn, Director of Business Networks at Skillnet Ireland, shared his insights:  " We are dedicated to building a highly skilled and resilient workforce that meets the evolving needs of Ireland’s economy. This programme is a strategic initiative, that not only supports individuals in re-entering the workforce but also strengthens the talent pipeline for the financial services sector. By investing in skills and fostering inclusive career pathways, we are driving sustainable growth and competitiveness, in one of Ireland’s most important industries."   This success is a testament to the collaborative efforts of IFS Skillnet, Adaptas Training Ltd., and industry leaders who have been instrumental in guiding participants throughout their journey. 🚀 Key Programme Highlights:  ✔ In-depth training on cutting-edge financial services skills  ✔ Personalised coaching and mentorship to build confidence and readiness  ✔ Insights from financial services leaders on navigating industry trends  ✔ A network of returners, each committed to making an impact  With this successful graduation, we look ahead to the future, where our graduates are not only filling the talent gap but also shaping the future of Ireland’s financial services sector. 🌱💼 Thank you to everyone involved! 👏 More details to follow in the upcoming press release—stay tuned!" For more information on the Reactivate programme and other upskilling supports from IFS Skillnet, visit https://lnkd.in/e693JSur. Janet Kane (née Keogh) Dr. Celine Mullins Eibhlin Johnston Annika McGivern Donna Noonan Blessing Inwang Audrey Crummy Carolyn Doumeni André Acetose Nascimento

Thank you to our SAP partner Deloitte and their Technology and Transformation team for providing a very interesting and practical Customer use case demo on Gen AI Tool Salesforce Agentforce providing a real insight into how insurance companies can use it in practice. Ciara Regan Kevin Cooney Nicola Geanne Fitzpatrick

Insurance Ireland and a selection of our members attended the Central Bank of Ireland Senior Executive Accountability Regime (SEAR) workshop this morning, with a number of other representatives from the Banking and Funds sectors. The aim of the workshop was to bring together industry stakeholders and (independent) non-executives to discuss how the Individual Accountability Framework (IAF) is working in practice and to share insights in relation to experience of implementing SEAR. This was to utilise practical learnings in advance of the extension of the scope to (independent) non-executive directors on 1 July 2025. The representatives had a lively discussion around the various experiences of implementing the regime; challenges over the last year as well as issues/concerns/challenges regarding individual versus collective decision making. Many of the challenges raised were common across all sectors and while feedback on the regime was positive, it was widely agreed that feedback from the CBI regarding the supervision of the regime would provide comfort around the various approaches that had been taken by firms. Our thanks to members both for attending the session and also those who submitted feedback in advance. #insurance #SEAR #regulation

Only a few days left to apply! Insurance Ireland is looking for an EU Intern/Executive to join the team in the Brussels office. The deadline to apply is Friday, 28 March, so please send this on to anyone you think might be interested in having a challenging position in a fast-paced and changing work environment, with the opportunity to gain experience in the competitive regulatory landscape of insurance. Full role details and how to apply at the below link. #insurance #jobfairy #careers #vacancy

We had a fantastic turnout this morning for a very thought-provoking session in partnership with Deloitte, Ireland. The event was hosted by Ciara Regan, Head of Insurance at Deloitte in their offices. Entitled ‘Digital Disruption in Insurance’, MC, Conor McRitchie, Director, Technology & Transformation introduced Moyagh Murdock, CEO, Insurance Ireland, who welcomed everyone and emphasised the importance of this topic for insurers. Deloitte’s keynote speaker, their Italian Equity Partner, Luigi Renis shared a global perspective, he discussed AI propositions and how this affects end-to-end for insurers. This was followed by a customer use case demonstration from David Walshe, Partner, Technology & Transformation, and Ian Kelleher, Senior Manager, Technology & Transformation followed by the three pillars to success exhibition pods covering Technology readiness, Content readiness and Data, Data Governance and Risk readiness. Key Highlights: 🔹Moyagh Murdock, CEO of Insurance Ireland, shared her expertise, providing a comprehensive understanding of current market trends and the future direction of the industry. 🔹 Keynote Speaker Luigi Renis, Partner at Deloitte Italy, discussed insights on end-to-end AI propositions for business functions that drive value, and looked ahead at local and European market trends. 🔹 Customer Use Case Demonstration: Using Salesforce's Gen AI tool, Agentforce, was led by Deloitte Partner for Technology & Transformation, David Walshe, Senior Manager Ian Kelleher and Manager Ryan K. The real-time demonstration showcased real-world results, identifying how insurance companies could see impactful results leveraging the Agentforce tool. 🔹 Breakout Session: Insurance Ireland members partook in a breakout session led by Deloitte experts, exploring the three key pillars to success that can enhance their organisational readiness: Technology Readiness Content and Data Readiness Governance and Risk Readiness Thank you to our Strategic Alliance Partner Deloitte, Ireland for hosting the event. Well done to all concerned. Ciara Regan, Moyagh Murdock, Conor McRitchie, David Walshe, Ian Kelleher, Ryan K. @Kay Wan, Nicola Flannery, Colin M., Filipa Pina, James Fitzgerald, Stephen Byrne #DigitalDisruption #Insurance #AI #Technology #Transformation

Today saw the launch of the feedback from the Central Bank of Ireland Review of the #ConsumerProtectionCode. Following detailed consultations from a high-level discussion paper in 2022 through to the formal proposals in CP158 in May of 2023, a modernized Consumer Protection Code was published today. Gabriel Makhlouf opened the event with some thoughts on the evolution of regulatory and supervisory frameworks and the impact of innovation on both. Minister of State at the Department of Finance with special responsibility for Financial Services, Credit Unions and Insurance Robert Troy who noted that a balance should be struck between consumer protection and innovation. He also noted the 12-month implementation period for the updated CPC and called for the Bank to be receptive to feedback from stakeholders and ready to adjust some of the provisions of the updated Code if they have any inadvertent impacts. Derville Rowland chaired the first panel focused on Protecting Consumers, commenting on the interconnectedness of the financial services environment and the need for all stakeholders to work together for the benefit of consumers. Gerry Cross chaired the second panel and noted the importance on how the principle of ‘securing customers’ interests’ would be embedded. The EC simplification agenda and its different aspects were mentioned. Gerry noted that firms will now have to ask themselves what it means to inform consumers effectively and what steps should be taken in order to achieve this. Ultimately, it is for the insurance sector to work through the revised code, understand the impacts for each firm and work with Insurance Ireland to feed back any observations to the CBI and other policymakers. We will work closely with our members on the implementation of the Code. #insurance #regulation #consumer

Don’t forget to register for our FREE Employment Seminar on March 29th to cap off employment month at AsIAm - you can also book in for one of our other supports for Autistic Adults here: https://lnkd.in/evuHzztz

Insurance Ireland team members Mary Dunne and Annie O’Leary along with representatives from our Inclusion Taskforce Paula Hodson FCII from The Insurance Institute and Natalie Keogh from Allianz are looking forward to speaking on behalf of the Insurance Industry at the second AsIAm - Ireland’s Autism Charity employment Seminar next Saturday, 29th March. Find out more below. Thank you to Adam Harris Debbie Merrigan Mairéad McHale for the opportunity. #Careers #Autism #Neurodiversity #Talent

The Central Bank of Ireland published the National Claims Information Database (NCID) report on the employers’ liability (EL), public liability (PL) and commercial property (CP) markets. The report shows that: ✔️ The report points to a more stable market environment following a longstanding period of loss making in these market segments. ✔️ Out of 332,000 policies, the premiums for 90% of these is less than €5,000, 75% of policies have premiums of less than €2,000, while over half of all policies had premiums of less than €1,000. ✔️ Employers’ liability (EL), public liability (PL) and commercial property (CP) have been challenging markets for insurers over the past decade or more, with 2.1% profitability over the past 15 year period - 2009 to 2023. ✔️ Uncertainty over potential increase in Judicial Council Personal Injuries Guidelines could erode the positive benefits of Government Reform agenda and may prove counterproductive in terms of encouraging further competition in the Irish insurance market. ✔️ Only 3% of litigated cases in 2023 were settled under the Personal Injuries Guidelines. The majority of cases in 2023 are still taking the litigated route. ✔️ Report highlights the effectiveness and efficiency of the Injuries Resolution Board claims settlement process. ✔️ The message needs to get to claimants that the Injuries Resolution Board is the most effective and awards are the same as going to Court. Legal fees are 25 times higher through the litigated channel with no benefit to the claimant. ✔️ Application of the proposed uplift of 16.7% by the Judicial Council in award levels is premature and without evidence to justify it. Insurance Ireland full statement and a link to the report can be found here. (https://lnkd.in/e25X3Hfq) Listen here (https://shorturl.at/AZSi2) to RTE interview with Michael Horan, Manager of Regulation and Policy Development discussing the findings of the National Claims Information Database Liability Report.

Reminder to members, that the commencement date for the Driver Number Capture Requirement is 31st March 2025. From this date, Insurance Brokers will be legally required to collect the driver number for all private motor and commercial vehicles at the time of policy issuance or renewal. See the full requirement outline from Brokers Ireland to ensure you are fully informed and prepared https://shorturl.at/F7AA6 Insurance Ireland Hazel Rock Patrick Caulfield