Insurance industry veteran Brian Duperreault took part in a global virtual town hall meeting aimed at attracting younger people into the sector.

Mr Duperreault, Hamilton Insurance Group chairman, joined other CEOs, including Inga Beale, of Lloyd’s of London, Mike McGavick, of XL Catlin, and Mark Watson of Argo Group, to talk to a webinar international audience of more than 1,000 participants already in the industry from Bermuda, Britain, the US and Canada.

Organisers explained the aim was to encourage young professionals in insurance to act as cheerleaders for the Insurance Careers Movement, a cross-industry initiative which started earlier this year.

Mr Duperreault told the meeting that it was ironic that the industry was struggling to recruit young people to replace baby boomers set to retire within the next few years.

“With the sharing economy, technological advances and associated emerging risks, this is a brave new world of insurance,” he said.

“But without a full court, industry-wide press, events will overtake action.

“We’ll be facing gaps in management and new talent that make it difficult, if not impossible, to meet the needs of the digital world we’re living in.”

He added: “So we need you. You’ve already chosen a career in insurance. Yours is the best voice for your peers to hear.”

Ms Beale said that the social purpose of the industry had kept her there for more than 35 years.

She said: “This continues to drive me today. I have found it to be an incredibly rewarding career and I have seen first-hand the huge impact it has on business, communities and economies when the worst happens.”

Mr McGavick said XL Catlin was committed to diversity — which he said was good for business.

“The notion is pretty simple. The more minds representing the greatest possible set of viewpoints, the more likely the chance for the next great innovation and the better we will all serve our clients and partners,” he said.

Mr Watson said the range of career options in insurance was huge.

He added: “Whether you’re interested in being a data scientist, an IT developer, a lawyer or you’re really good at sales and marketing, basically we’ve got cool opportunities for you.

“There are hundreds and thousands of job opportunities and you couldn’t pick a better time right now.

“If you’re the kind of person that’s really thoughtful, creative, innovative, likes to do different things every day and is up for a challenge, you couldn’t pick a better place to be than in the insurance business around the world right now.”