IIS Executive Insights Life & Health Expert: Ronald Klein, Executive Director, BILTIR
The Three-Legged Stool
In the 2022 Global Priorities Survey, insurance executives across the industry reported the top external and internal priorities that their companies are focused on addressing this year. Some priorities from last year’s survey remained: climate change, competition for talent, cyber and data security remain top issues for insurance companies in 2022. However, concerns over inflation, recession, and geopolitical conflicts have spiked this year just as the focus on the pandemic recovery has begun to recede.
New climate regulation represents a step change for insurers — but also, a commercial opportunity. At Oliver Wyman, we are helping insurance leaders on all aspects of sustainability strategy to meet climate requirements and fuel new products and services. Our new perspective shares the foundation teams need to get started.
As the pandemic and Ukrainian war have sent inflation soaring, central banks have had to consider their response. Combating supply-driven inflation requires a different approach to the demand-driven problems of the past.
Find out how the changing world is shaping insurers’ actions and strategic thinking in BlackRock's 11th annual Global Insurance Report. 370 senior industry executives have shared their insights and perspectives, helping us to identify three key themes which we explore in the report.
New research reveals that, in 2020, the U.S. was dealing with two public health crises. While many individuals practiced social isolation measures due to the COVID-19 pandemic, opioid-related deaths spiked. RGA investigates this epidemic within a pandemic, analyzing U.S. overdose mortality to better understand opioid related-deaths.
Ongoing global crises will renew focus on “real” economy issues. Insurers can help maintain resilience as a new world order takes shape for instance by providing businesses with protection against earnings volatility as operating conditions change, and as investors in a sustainable future.
IIS Executive Insights Cyber Expert: David Piesse, CEO, DP88
Ralph Mucerino, Principal, RPM Strategy and Management Consulting LLC
Employer and Employee Perspectives Differ
While the pandemic has certainly impacted mental health, available evidence to date suggests that suicide rates globally have not increased. RGA examines the evidence, cautions that the pandemic’s long-term effects on suicide are still evolving, and suggests the insurance industry has a significant role to play in suicide awareness and prevention moving forward.