The world is changing at a significant pace — and consequently so is how we view risk and its impact on business.
This whitepaper dives into the dynamic world of risk management, spotlighting the rising importance of alternative risk financing and captives in tackling complex challenges. It brings to light the hurdles that climate litigation and cyber attacks pose, stressing the need for solid incident response plans and the use of innovative data sources for sharper risk insights.
Exploring the benefits of parametric insurance and captive insurance vehicles, this paper reveals how these tools provide financial protection and build resilience against natural disasters and cyber threats, pushing beyond traditional boundaries. While conventional insurance remains crucial, the lack of historical data for modeling and pricing risks drives businesses to seek out alternative strategies to bolster their risk management.
This whitepaper also highlights the growing role of academic research and cutting-edge tools in developing insights for horizon scanning and realistic risk scenario planning, helping businesses better gauge the likelihood of specific risk events. This paper ultimately identifies the necessity for enhanced risk insight and the increasing significance of alternative risk financing and management for businesses.