According to a new EY report, Chief Risk Officers (CROs) in the insurance sector must focus on three strategic areas in 2026 to enhance resilience and support business performance: building a strong risk culture, advancing digital and data capabilities, and improving stakeholder engagement.
The report stresses that embedding risk awareness across all organizational levels helps insurers anticipate threats and make informed decisions. Upgrading digital tools and analytics allows for predictive risk modeling, fraud detection, and better cyber and operational risk management. Strengthening relationships with boards, regulators, and business units ensures alignment, transparency, and trust in areas such as climate risk, cybersecurity, and operational resilience.
Experts note that by prioritizing these actions, CROs can transition from traditional risk oversight to becoming strategic partners, balancing innovation with prudent risk management while navigating the increasingly complex and digital insurance environment.
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