Global risk managers are calling on insurers to strengthen their role as risk partners as businesses face an increasingly complex combination of emerging threats. Discussions at the Ferma Forum in Rotterdam highlighted concerns that traditional annual insurance policies and slow responses may not adequately address the pace and interconnected nature of current risks.
Risk managers are confronting what participants described as a “flock of black swans”, referring to multiple unexpected or difficult-to-model events that can create significant business disruption. Cyber threats, artificial intelligence, climate-related exposures and geopolitical uncertainty are among the risks adding complexity to corporate risk management.
The discussions pointed to growing expectations for insurers to provide more than conventional risk transfer. Companies increasingly want insurers and brokers to contribute risk intelligence, prevention strategies and practical solutions that can help organisations understand and manage emerging exposures before losses occur.
The challenge is particularly significant where risks develop faster than conventional underwriting and policy cycles. Risk managers therefore want greater flexibility, faster responses and closer collaboration from insurance partners.
The discussions at the forum indicate that insurers may need to strengthen their advisory capabilities and work more closely with corporate risk functions. For the insurance industry, the opportunity lies in moving towards a broader partnership model in which underwriting, prevention, data and risk expertise work together to improve organisational resilience.
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