“In space, no one can hear you scream!” was the powerful tagline to the Ridley Scott movie, Alien. And sometimes, it seems that, on earth, no one gets to hear any good news about the insurance profession.

That was certainly one of the conclusions I reached whilst undertaking primary research for A World of Risk, the 2019 special report published by the Chartered Insurance Institute. Because, whilst the sector has a somewhat lacklustre reputation, there are an enormous number of incredible initiatives underway across the globe that deserve celebration. A World of Risk showcases many of them – such as product innovation that’s making insurance accessible to low income farmers in Africa, pioneering work to support environmental sustainability in Hong Kong, and partnerships within the insurance ecosystem to raise standards in the Middle East. Yet awareness of these programmes is yet to filter into the public consciousness.

The mission of the Insurance Museum is to use multiple touchpoints to “engage all audience groups, especially students (and) build awareness of its social good.” Tools will include digital artefacts, interactive online content, a free admission visitor museum in London’s City of London. It will tell stories that bring to life the profession’s heritage, and its role during such events as the Great Fire of London, two world wars, and the globalisation of trade. Most importantly, it will also look at current issues and those which will dominate the next century, through content exhibition zones created to such themes as cyber security, climate change, space travel and big data – insurance is already playing a pivotal role as a risk mitigator in many of these areas. I wish the team well in finally giving voice to a myriad of global initiatives that currently need amplification – and also to achieving the initial fundraising target of £3 million needed for the vital first stage of venue development and delivery.

Post written by Laurence Smith – Chartered Insurance Institute
Editor, ‘A World of Risk: Building a Trusted International Insurance Profession’ (published in 2019 by the Chartered Insurance Institute);
Managing Director, The Benchmark Partnership

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