RGA Reinsurance senior claims consultant Renee Knapp is the winner of the 2008 Investment and Financial Services Association (IFSA)/Deloitte Future Leaders Award.

This year, 21 candidates vied for the honour, and contributed papers on topics that Deloitte and IFSA deemed the most important public policy issues.

Up from three topics last year to five, the issues covered by candidates spanned investment, national savings, life insurance, global markets and financial advice.

Knapp's winning paper evaluated the social and economic impacts of underinsurance. She proposed a ten-point action plan for the industry to follow, to close the protection gap.

"Life insurance plays a critical role in protecting the quality of life for Australian families. The social cost of not having the right level of cover is not just immediate - it is generational," IFSA chief executive Richard Gilbert said.

"Renee's paper shows a deep understanding of this issue, incorporating lessons from overseas and employing creative thinking to develop a recommended plan of action for the industry."

Knapp will now contribute to the IFSA awareness campaign, designed to increase Australians' engagement with life insurance decisions.

As part of her prize Knapp has won an all-expense paid study tour to New York, where she will meet with Deloitte's international insurance experts.

IFSA's 2005 research showed six in every 10 Australian families would be unable to maintain its current lifestyle for more than a year, if the main income earner died.