Trends & Regulations: Preparing for a New future for Finance & Insurance Companies
October 26, 2023
How will government regulations and evolving consumer trends change the way Buffalo Niagara companies are financed and insured?
The BNP Finance & Insurance Industry Leaders Forum (ILF) came together on October 5th to discuss this complicated question. Western New York’s economy relies on these sectors on a daily basis, to operate and grow all businesses. The region also counts on finance and insurance leaders to champion the regional initiatives that help Western New York compete for needed development, talent attraction, and residential investment.
The recent ILF allowed sector leaders to discuss their own specific shared challenges, joint solutions and ways for the region to advocate on their behalf.
The group also welcomed Emily Melendez, Business Development Supervisor at Say Yes Buffalo, as part of an in-depth conversation on attracting and retaining talent. According to Lightcast data, both sectors offer high earning potential against regional standards and light hiring competition over a thin supply of regional talent. Still filling positions is a challenge and will be made more challenging with impending retirements. The group discussed several Employ Buffalo Niagara initiatives that could best serve all of the companies gathered around the table. As we move into 2024, workforce development will continue to be a key topic for this ILF.
The Finance & Insurance ILF is one of nine created to discuss the status of business in the sector by sharing data and plans for the year and beyond. Learn more about the new BNP Industry Leaders Forum here.
Thank you to our sponsors
The BNP hosted its first Economic Development Summit on December 7 as the culmination of the 2023 Industry Leaders Forum (ILF) schedule. An impressive group of Western New York business leaders came together to discuss the current status of the economy as we collectively strategize for 2024.
BankOnBuffalo is a presenting sponsor of the BNP Industry Leaders Forum, convening regional business leaders with their peers to strategize for the future success of their industry and the overall economic vitality of the regional economy.
The BNP Energy & Telecommunications Industry Leaders Forum (ILF) came together on September 14 to discuss the future of the sector in the wake of evolving government regulations and consumer trends
Buffalo Niagara has approximately 12,900 tech jobs across 5,200 tech and tech enabled firms, according to extensive research by Tech Buffalo and the University at Buffalo Regional Institute. Between 2010 and 2019, tech jobs here grew at a rate of 4%, trailing our peer cities and the top ten national tech hubs.