In the October issue, Intelligent Insurer asked a range of companies to identify some of the challenges they see the insurance industry facing. Some of the answers were humdrum, others surprising. But they all share one thing—they will have to be faced by the market and then dealt with. Here are the second five of 10 challenges the industry must overcome.
The first part of this two-part feature covered investment returns, terrorism risk, cyber pools, a global pandemic and food system shock. Some of these challenges are well understood by the industry, others less so.
The challenges raised in this second part might perhaps be cast less as challenges and more as opportunities. One person’s glass is half full; another’s is half empty.
What they all have in common, however, is the changing nature of the risk transfer industry and the requirement for companies operating in this space to innovate and be open to new ideas and trends.
Ray Purdy, Air and Space Evidence, Europe