The future of risk is evolving rapidly, becoming less predictable and more severe. For example, risks from climate change, technology and pathogens are almost impossible to predict. Even historical risks from fire, wind, earthquake and water events are becoming more dangerous and erratic.

The chart below shows how risk, in the nature of Catastrophic events has evolved in the past 100 years.

We know that the future of protection goes way beyond insurance. Which is why all businesses should be prepared when insurance doesn’t protect you. Do you remember the Covid Pandemic? The cost of being unprepared was bankruptcy for too many and insurance wasn’t prepared to help.

Actuaries look at past experience to predict future experience. With the future of risk becoming less predictable and more severe, insurance alone isn’t prepared to respond for many events that seem unlikely to happen. This is why we believe that customers deserve more than just insurance. Taking a comprehensive approach to protection includes a risk management plan that shouldn’t just be insurance.