The insurance industry, like every other industry, must continually face, manage and adapt to global change. With the diffusion of artificial intelligence (AI) and other seemingly constant technological, social and political changes, we might expect the industry’s need to adapt to accelerate even faster over the next decade.

The captive industry, with its growing prominence in the insurance sector, will certainly experience similar changes. How will the captive industry adapt?

Pinnacle Principal and Consulting Actuary Rob Walling participated on a recent panel for Captive International that asked experts, “What will captives look like in the year 2035?” Rob and the other panelists dove into a wide range of challenges facing the captive industry. They touched on everything from geopolitical issues to the importance of being thoughtful and intentional when it comes to how quickly innovation is adopted.

“[When] we innovate, we must ask: Is this the early bird getting the worm or the second mouse getting the cheese? Not every innovation will be safe. Risk tolerance must be matched with foresight,” Rob said.

Part I of this fascinating panel can be heard here, and Part II here.