Insurers Increasing Reliance On Risk Management To Combat Emerging Risks And Digital Disruption
ByPersistent low growth combined with low interest rates are constricting the traditional sources of revenue for the insurance industry, creating an urgent need to seek out new sources of revenue and accelerate innovation. The industry is threatened by disintermediation and needs new, digital business models that leverage existing brands and customer relationships. The risk management function will need to continue to play a bigger role in the organization to overcome these challenges successfully.
The foundation of the insurance industry is built upon the careful analysis and management of risk. In evaluating client risk, the industry’s risk management professionals have made significant advances. Yet, insurance companies also face internal risks in the form of proliferating regulatory and reporting demands and the need to strengthen their control frameworks. Risk professionals are increasingly called upon to keep a close eye on emerging risks, assess the impact of digital disruption and help the business achieve its growth objectives…
Insurers Increasing Reliance On Risk Management To Combat Emerging Risks And Digital Disruption
