What the pandemic has taught organisations about risk management and resilience


What the pandemic has taught organisations about risk management and resilience

Matt Lacy, interim executive director, QBE Insurance

The Agility and Adaptability report from QBE and Airmic highlights routes to future resilience.

The recent Agility and Adaptability report released by QBE and Airmic has highlighted the “incredible resilience” shown by businesses as they adapted to the coronavirus pandemic. It has also revealed the lasting changes brought about by the pandemic, which put organisations in a stronger position for facing future challenges.

“If there is one positive to be had from Covid, it is that it has been the catalyst for change,” says Matt Lacy, interim executive director, UK, QBE European Operations. “The majority of Airmic members surveyed this year believe their organisation’s ability to adapt operations and execute change in periods of uncertainty has improved appreciably over the course of the pandemic. Those Airmic members now consider their organisations to be more agile and adaptable than they were before. Risk managers have done exceptionally well to manage the uncertain risks that have come their way.”

Even before the first known case of Covid-19 emerged in in December 2019, the world had increasingly become a less predictable place for businesses. According to the QBE Unpredictability Index, almost all of the ‘least predictable years’ have occurred in the past two decades, with the majority occurring during the past ten years. Despite this, COVID was a big shock for most organisations.

QBE, COVID-19, Report, Rik Management, Insurance, Reinsurance, Matt Lacy, Global

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