Captives are becoming a more strategic tool for risk managers as gaps in traditional insurance cover widen and businesses look for new ways to finance emerging risks.
Captives are no longer just filling gaps left by the traditional market. At Airmic’s Captives Forum in London, speakers argued they are becoming strategic tools for understanding emerging risks, generating usable data and shaping the next wave of insurance solutions.
As public trust fragments globally, experts at Airmic’s Risk Forum warned that reluctance to work across differences could damage productivity and operational cohesion, placing a new spotlight on culture as a risk management priority.
A shift from operational resilience to strategic resilience will require deeper board engagement, sustained investment and scenario-led decision-making, according to speakers at Airmic’s Risk Forum.
Previously a back-office function, resilience in the digital space is now in the spotlight. At an SR:500 roundtable in asssociation with Marsh, risk leaders explored how AI, regulation and culture are highlighting new strategies and demanding board-level attention.
Risk management will be characterised by embracing ESG, risk culture and smart use of artificial intelligence, according to Airmic’s Future of the Profession 2023 report.
Risk leaders have never been closer to the top table. The opportunity now is to translate that proximity into genuine strategic influence, and the profession is better placed to do it than at any point in its history, says Alex Bentley, CEO, Clew
Workplace healthcare is becoming a strategic pressure point, as employees’ rising demands plus costly medical advances are pushing employers to rethink how far benefits should go and what they mean for resilience.
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As nat cats grow more severe, insurance gaps are widening - but parametric solutions might hold the key to resilience, says Dianna Nelson, a senior structurer at Swiss Re Corporate Solutions