Vermont is remaining “proactive as possible” when it comes to emerging technologies, according Ian Davis, director of financial services agency of commerce and community development in the state.
In a recent interview, Davis and Christine Brown, assistant director of captive insurance with the Vermont department of financial regulation, spoke on blockchain and captives and how emerging technology is shaping their outlook.
According to Brown, the state is working with lawmakers to stay “on the cutting edge and respond to the latest developments impacting our industry”.
Davis said that they are “conducting working groups, holding educational forums and really doing our best to position ourselves well to help regulate these emerging technologies”.
“We certainly believe their collective impact on the insurance industry is going to be substantial in terms of managing data, identifying risks and managing exposures, but again we want to position ourselves to be at the forefront.”
“Technology is so pervasive today, if insurers aren’t beginning to consider incorporating them into their business plan, then they will be behind the eight-ball.”
To read the full interview, subscribe for free to Captive Insurance Times and get our latest issue delivered to your inbox.
Alternatively, pick up your copy of Captive Insurance Times at the Vermont Captive Insurance Association’s 33rd Annual Captive Insurance Conference tomorrow.
