As part of Arthur’s ongoing breakfast forum series, we recently hosted an impactful discussion with leading voices from the insurance sector, spotlighting the development of the next generation of Chief Risk Officers (CROs).

The Risk Leaders of Tomorrow session was designed to create space for current and future risk leaders to connect, challenge thinking, and spark actionable ideas. Hosted by Arthur’s Aaron Scott, the discussion featured guest speakers Rachel Flynn and James Illingworth and brought together industry professionals for an insightful panel on the current risk landscape, talent development, and leadership in an increasingly complex environment.

Expert Insights from the Panel

Two exceptional industry voices offered attendees insightful perspectives on leadership, strategic risk, and career progression within risk.

Rachel Flynn reflected on her own progression from operational management into executive leadership. She explored the difference between managing processes and leading with influence and emphasised that trust, visibility, and credibility are essential for CROs stepping into board and leadership level conversations. For future leaders, it’s not about having all the answers, but knowing how to shape strategic dialogue.

James Illingworth focused on how the CRO role is shifting from oversight to strategic partnership. Drawing on international experience, he stressed the importance of building strong relationships with boards and non-executive directors. As organisations face geopolitical uncertainty, CROs must take a central role in scenario planning, balancing risk with opportunity.

Both speakers highlighted a clear trend: CROs are no longer passive risk reporters as they were in the past. They are active participants in business growth, resilience, and forward strategy.

The Shared Responsibility of Talent and Succession Planning

Attracting and retaining talent in risk remains a top priority, as the role becomes more strategic and focused on business. Innovative teams require new approaches to hiring, development, and succession planning, ensuring that the next generation of risk leaders is supported successfully. Future CROs won’t emerge by chance. Talent and succession planning must be intentional, consistent, and embedded across the business, not left to reactive promotions or immediate searches.

Key strategies raised included:

• Developing internal talent: Support internal mobility through secondments and exposure across different functions to uncover adjacent skills and broaden the talent pipeline.
• Broaden candidate profiles: Risk skills are transferable. Hire based on team needs, not just technical profiles from specific markets like Lloyd’s.
• Early leadership exposure: Encouraging junior talent to observe or present to boards builds confidence, communication skills, commercial insight, and readiness for senior roles earlier in their careers.
• Structured development: Growth depends on access to meaningful opportunities not just time in role. Secondments, training focused on developing knowledge across functions, and coaching are all effective tools for accelerating growth.
• Define the opportunities while hiring: Outdated job descriptions can hold back good hiring. Leaders advocated for framing roles around impact, learning and culture.
• Positioning on diversity: Rethink job specifications and actively challenge assumptions to build a more diverse talent pool.
• Raising the profile of risk careers: From graduate schemes to internal mobility, risk remains underrepresented. More effort is needed to position risk as a career that offers variety, continued growth, influence, and broad business exposure.

Actionable Insight: Reframe talent acquisition and development to emphasise growth, impact, and diversity while integrating succession planning as a core part of organisational culture. Shift the focus from replacement to readiness and invest in developing leadership at all levels.

Looking Ahead

Arthur is proud to create space for open, collaborative conversations that elevate our industry. This forum reinforced the immense value of connecting today’s senior leaders with the talent who will shape the future of risk.

We extend our sincere thanks to Rachel Flynn, James Illingworth, and all attendees for their contributions and energy.

We host regular discussion events, roundtables and seminars on topics that affect all areas of the insurance industry. If you’re interested in attending or collaborating, we’d love to hear from you.