The world’s population is growing, and that growth is essentially centred in cities. Though they bring huge economic and social benefits, cities are also exposed to an exponential rise in risks: climate change threatens to bring more extreme weather events; human density accelerates the speed at which infectious diseases spread; and social inequality can exacerbate the risks of social unrest and crime. How will cities cope with this evolving risk landscape and how can insurers contribute to managing future urban risks?
The scale and pace of digitalisation is fundamentally changing the risk profile of businesses, mainly linked to the shift towards intangible assets for value creation among digital firms. Many of these intangible assets remain uninsured, leaving digital entrepreneurs and start-ups vulnerable to emerging risks and liabilities. This presents both challenges and opportunities for the insurance industry.
Leading international experts on flood risk discuss The Geneva Association’s major series of studies, Building Flood Resilience in a Changing Climate, which offer a comprehensive look at flood risk management in the United States, Germany and England, factoring in the changing risk landscape.
Kai-Uwe Schanz, Head of Research & Foresight, and Mike Mansfield, Program Director Aegon Center for Longevity and Retirement, delved into recent research on why the demand for life insurance products is eroding, obstacles to retirement readiness and what insurers can do to address these challenges. The discussion was moderated by Adrita Bhattacharya-Craven, Director Health & Ageing.
Global spending on health has reached USD 8.3 trillion, or 10% of global GDP, according to the WHO (2018). A large portion of this is attributable to the way we manage chronic and age-related illnesses: in expensive, curative settings and in an episodic manner.
Fortunately, changes are afoot with New Care Models (NCMs) that wrap services around the whole care continuum, with a focus on prevention, health promotion, proactive case management, and collaboration across health and social care.