Actuaries Institute Podcast

Rick shaw questions Ian Laughlin, Chairman at OnePath Life and ANZ Lenders Mortgage Insurance, on his Dialogue thought leadership paper 'Social Risks for a financial services business'.Financial Institutions have been regularly subjected to public opprobrium - in the press, in politics and on social media - for attitudes and behaviour which the community finds unacceptable. This may be partly because institutions have not managed risks that come from changing social attitudes and norms, and the power of new social capabilities. Such risks need a fresh approach “we have a different risk profile, now I'm wondering about our management of risk, whether we need to refine or do something more drastic to manage the changing risk profile. Do we have the existing frameworks and the existing institutional culture to allow us to respond to generational changing and attitudes towards government and large institutions or is something more radical needed?” Ian says in the podcast.How can it be that institutions spend huge