The Financial Services Council (FSC) Life Insurance Conference on Thursday will address the issues of changing consumer demand and regulation, among others.

MetLife Australia CEO Marc Lieberman and Swiss Re Head of Life and Health Australia and New Zealand Helen Troup will discuss the challenge of engaging with buyers.

“We as an industry need to understand that consumers spend very little time thinking about insurance,” Mr Lieberman told insuranceNEWS.com.au.

“Therefore it is incumbent on us to deliver messages in a clear and concise way so consumers can understand the benefits to them.”

The life industry must find new ways to tackle issues such as underinsurance, according to Ms Troup.

“We are all aware of the protection gap and we need innovative solutions to close this gap,” she said.

“One important element in this is connecting with the demands of the new generation – to be more relevant to their needs.

“Customers are demanding the industry be able to relate to them when they want, where they want and in a way they want.”

Other keynote speakers include MLC EGM of Insurance Duncan West, Australian Prudential Regulation Authority Executive Member Ian Laughlin, and CommInsure MD Paul Rayson. 

The conference is at the Sydney Convention and Exhibition Centre, Darling Harbour.

It follows the FSC’s inaugural Life Insurance Awards dinner on Wednesday night. Prize categories include consumer and product innovation, client retention, customer engagement, young achiever and industry pioneer.

Life+Health insuranceNEWS.com.au is a media partner of the conference.