Risk management: reputations in the line of fire

The risk management of corporate reputation has become a strategic imperative as organisations grapple with new challenges. Intelligent Insurer speaks to the experts.

Organisations across the globe are heading towards a barrage of reputational risks in a world held to ransom by the pandemic, climate change, political turmoil and digital disruption.

The aftermath of the 2008 recession accelerated public interest and criticism in corporate reputation as the world was stifled by inadequate corporate decisions. Now, as company directors and shareholders are held solely responsible for much more than financial performance, re/insurers are thinking more seriously about the social, economic and environmental impact of their decisions.

However, research suggests that such diligence is not widely mirrored in risk management and strategic targets. How can the industry guard itself more proactively against soaring scrutiny, and better manage additional risk?

Risk management now stands at the forefront of corporate reputation as organisations grapple with complexities that were not previously considered.

This was one of the key points from a panel discussion titled “Risk management: is it time to reset re/insurers’ corporate responsibilities?”. The discussion took place on Intelligent Insurer’s Re/insurance Lounge, an online platform where interviews and panel discussions are available on demand.