Risk Consulting 3/2022

What can we do for you?

Let’s talk about the future for a moment. There are many things we can dive into and write about, from cyber to claims inflation, climate change and global supply chains.

I would like to make some remarks regarding the transition that is driving us all into a more digital future. What we see is that new technologies are changing the game. The speed of digital development, alongside the implementation of these new technologies, will grow substantially over the coming years. Simply, the demand for this progress is coming to us loud and clear from clients and brokers, and we expect that this will continue well into the future.

At If insurance, our understanding is that companies need solutions and services that are not only up to date but will easily be adaptable to future requirements. At the same time, we must provide reliable tools and applications that meet the demands of existing risks and current requirements.  

Today, a competitive advantage comes from the usability and adaptability of these solutions. Services and processes must be smooth, quick, and better than they are today. Furthermore, they must be intuitive and easy to use, and not cause additional headaches for users. 

We are moving forward on this journey of digitalisation together with our clients. As companies increasingly develop their own processes with new tools and platforms, they will expect insurers to do the same. Our aim is to deliver on these expectations, to support client needs and help bring down their costs of doing business, and this is well underway.  

Insurers are strategic partners

Increasingly, risks and losses are issues that need to be addressed in the boardroom. To be blunt, we should be in the room with our clients, helping you to become more competitive in the market. Insuring your business operations is a matter of survival. Having a transparent view on the vulnerabilities and risks is vital in this regard. 

Across the insurance industry, technology investments must continue, and IT budgets must increase as we go forward. Furthermore, the number of technical professionals working in the insurance industry will continue to grow. It is clear that the demands on us will continue to increase, and that is why it is critical for us at If to have the right focus and invest in the future.

Clients will continue to expect us to both adapt to their own solutions, as well as deliver new ones that will support Risk Management and, for example, enable direct access to our databases through APIs. We are also prepared to address developing risks and put our investments where they are needed the most. 

In this issue we dive into digital ESG, and look at how important it is to be alert to what is happening around us; from decreasing the number of fatigue-related accidents to better understanding human errors and the causes behind them.

Written by

Poul Steffensen, Head of Business Area Industrial, If