A new report by EY highlights three strategic priorities that Chief Risk Officers (CROs) in the insurance industry should focus on in 2026 to strengthen risk resilience and support business performance in a transforming market.
First, the report stresses the importance of embedding a strong enterprise‑wide risk culture. Moving beyond compliance, insurers are encouraged to integrate risk awareness throughout business planning to better anticipate and respond to emerging threats.
Second, CROs should invest in digital and data capabilities, including analytics and AI, which support predictive risk insights, automation, and faster decision‑making. Digital tools help insurers effectively monitor portfolio health, detect fraud, and assess emerging risks such as cyber threats.
Third, the report calls for enhanced stakeholder engagement, urging CROs to deepen collaboration with boards, regulators, and business units. Clear communication and shared risk governance frameworks help align enterprise strategy with risk oversight, boosting confidence among investors and regulators.
EY notes that prioritising these actions will help insurers navigate volatility, innovate responsibly, and build long‑term resilience in an increasingly interconnected and digitalised risk environment.
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