As risk managers face some of their biggest challenges to date, Axel Lehmann, chief risk officer at Zurich Insurance Group, warns that before tackling the growing demand coming from new risks, the industry must appropriately differentiate between risks and trends. Intelligent Insurer reports.
Axel Lehmann, chief risk officer at Zurich Insurance Group, says that while new risks are cause for concern to the industry, insurers must first distinguish between risks and trends in order to know how best to tackle different problems.
By this, he means that some of the biggest issues facing insurers right now are not necessarily new risks; rather, they are old and well understood risks that happen to have come to the fore recently. One example of this is the wider economic climate.
Axel Lehmann, Zurich Insurance Group, Risks, Trends
