Thank you to our event sponsors: BowerGroupAsia; Chubb; Council of Insurance Agents and Brokers; Cozen O'Connor; Mayer Brown; Peck Madigan Jones; Sullivan & Cromwell LLP; The Scowcroft Group
The Chairman and Chief Executive Officer of Chubb discussed the state of the insurance industry during a time of technological and societal changes. When asked about the effects of climate change on business, Greenberg said, "[Climate change is] not a fiction. It’s not speculative. It’s a fact... And for certain kinds of perils, we have, because of sciences, because of technology, because of data, the ability to model these events and to imagine damage rates on concentrations of exposure, the sciences have improved with that." He also noted that the rise of artificial intelligence will help insurance companies like Chubb in data and risk analysis in the near future. Greenberg also analyzed U.S.-China bilateral relations, given his role as the Chair of the U.S.-China Business Council. On a potential trade agreement, Greenberg expects the two countries to reach an agreement, saying, "It’s in both countries’ interest, and I think both countries need to find a way, in spite of the differences of our cultures, and our values, and our systems to find a way to accommodate each other and each other’s interests."