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ARTICLE · 30 OCTOBER 2023

Advising Clients On Bermuda Reinsurance Structures & Bermuda Corporate Law

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Bermuda Director Chris Garrod sat down recently with CXO Magazine to share his insights on how technology is changing the insurance industry, the qualities required to be a successful finance leader in insurtech...

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Bermuda Director Chris Garrod sat down recently with CXO Magazine to share his insights on how technology is changing the insurance industry, the qualities required to be a successful finance leader in insurtech, future plans, pearls of wisdom, and much more. The following excerpts are taken from the interview.

In what ways do you feel technology is changing the insurance industry?

The insurance industry is very much customer-led, so there are several things. Digital transformation: AI, chatbots, smart contracts, and blockchain are just a few examples. There is a continuing rise of insurtech start-ups. We have our own regulatory environment in Bermuda with a very tech-savvy regulator, the Bermuda Monetary Authority, which has created a framework to attract "innovative" insurers to the Island.

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