The CEO Forum Group Magazine Business 2023 (1) - Flipbook - Page 50
In the Media
Pictured left to right: Robert Reiss, CEO, The CEO Forum Group (Moderator); Meera Krishnamurthy, Head, Cognizant
Americas Banking, Financial Services & Insurance, Cognizant (Subject Matter Expert); Daniel Houston, Chairman, President
and CEO, Principal Financial; Mehran Assadi, Chairman, CEO and President, National Life Group; Malcolm Roberts, President
and CEO, FM Global; Teresa (Terry) Rasmussen, President and CEO, Thrivent
The secret to success
in insurance: purpose!
By: Robert Reiss
Historians note that King Hammurabi of Babylonia created the first legal insurance construct that
defined risk sharing in 1750 B.C. His idea continues to thrive, more than 3,000 years later. There is
no doubt that insurance is essential: without it, economies would wither and die.
So, I wondered, what enables growth and success in
insurance, where the companies both stand the test of time
and are completely relevant today? This resiliency comes
down to one word—purpose.
48 The CEO Forum www.theceoforumgroup.com
Consider these proof points from the examples of five
companies that have succeeded for over a century, with a
combined 809 years of experience. Despite their different
business models, all five thrive on a clear foundation of
purpose.