Bermuda’s Summit by the Sea to spotlight resilience, AI and innovation
Bermuda continues to prove itself as a hub for insurance innovation. At this year’s Summit by the Sea, hosted by Xceedance from 8–11 October, industry leaders will explore ways to move beyond incremental change, focusing on resilience amid volatility, systemic risks, and technological transformation.
Speaking exclusively to Intelligent Insurer ahead of the Summit, Sachin Kulkarni (pictured), EVP – head of commercial lines, Americas at Xceedance said: “The Summit is designed to be more than a series of panels – it’s a peer forum. One of the most valuable aspects is giving clients and industry leaders the space to talk directly with one another, candidly share what’s working and what isn’t, and compare experiences in an informal, collaborative setting.”
Bermuda, he said, provides the “perfect backdrop” to focus on the big questions shaping insurance’s future – capital flows, systemic risk, AI adoption and workforce evolution.
When asked about the most pressing challenges facing insurers and reinsurers, three stood out: “systemic risks that defy traditional modelling, rising market volatility and the operational fragility exposed by legacy infrastructure.” The solution, he argued, lies in a mindset shift: “Leaders can’t afford to treat these in silos. It requires a shift toward resilience – resilience in balance sheets, in operating models, and in talent strategies.”
AI was another key focus. The speaker cautioned against repeating mistakes made during the robotic process automation (RPA) wave, when “many firms simply layered technology onto existing workflows without questioning whether those workflows should exist in the first place.” Instead, they urged leaders to “rethink end-to-end workflows” and build stronger data foundations. Without that, “AI risks becoming just another layer of fragility.”
On the subject of capital, the view was clear: “Alternative capital is no longer a side story – it’s embedded in how risk is financed today.” The future, Kulkarni suggested, lies in partnerships: “Traditional carriers and new capital providers will increasingly operate as partners, not competitors.”
Bermuda’s continued relevance stems from its ability to “look around corners.” Its “regulatory agility, concentration of talent and global connectivity” make it a “proving ground for innovation,” particularly as AI and alternative capital reshape the industry’s dynamics.
That local grounding matters. “Insurance is a global business, but resilience is always local,” Kulkarni said, emphasising the importance of collaborating with Bermudian partners. “Global firms succeed best when they invest locally, building ecosystems of trust, capability and shared value.”
As the industry confronts climate, cyber and geopolitical challenges, that philosophy – resilience rooted in collaboration – may well be the blueprint for insurance’s next chapter.
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