The latest edition of the Women in Financial Services report from Guy Carpenter affiliate, Oliver Wyman, has found that the industry is finally making progress on gender diversity in the workforce. Mindsets are shifting and, as a result of hard work and commitment, progress is beginning to be reflected in the numbers. ... Continue Reading »
Board Room
Shipping’s Uncertain Voyage to Zero Carbon
The global marine industry is increasingly focused on reducing its carbon footprint. In fact, over the next 10 years, the only issue seen as having a greater impact is a potential global financial crisis, according to findings from the Global Maritime Issues Monitor 2019, compiled by the Global Maritime Forum in partnership with the International Union of Marine Insurance and ... Continue Reading »
Survey: Cyberattacks Are the Number One Risk to Doing Business in U.S. and Canada
Results from the World Economic Forum’s 2019 Executive Opinion Survey indicate that for business executives in both Canada and the United States, “cyberattacks” are once again – by a large margin – the number one risk to doing business. This is a top risk in Europe and East Asia and the Pacific as well, where it now ranks first and second, respectively. The persistence of this r ... Continue Reading »
Cyberattacks Are Top Concerns Among Business Leaders in the Largest EU Economies
Results from the World Economic Forum’s 2019 Executive Opinion Survey indicate that concerns about “cyberattacks” are top among business leaders in the four largest European Union (EU) economies: Germany, France, Italy and the United Kingdom; and rank first in another six countries across the continent. In late 2018 and throughout 2019, European countries have experienced cyber ... Continue Reading »
Environmental Risks Are the Leading Concerns for Doing Business Across East Asia and the Pacific
Results from the World Economic Forum’s 2019 Executive Opinion Survey indicate that environmental risks are the leading concerns for doing business across East Asia and the Pacific, with “natural catastrophes” ranking first and “extreme weather events” ranking fifth. The concerns about “natural catastrophes” were heavily driven by responses from Japan and New Zealand, where they ... Continue Reading »
Baden-Baden Reinsurance Symposium Examines (Re)insurance Market Opportunities Generated by Industry 4.0
Guy Carpenter hosted the Reinsurance Symposium in Baden-Baden on October 20, 2019. The eleventh year that Guy Carpenter has hosted the event, the Symposium posed the question: “Is the (re)insurance sector ready for Industry 4.0?” ... Continue Reading »
Regional Risks for Doing Business
With heightened economic uncertainty and increasingly decentralized threats, regional understanding of risks – and the opportunity for cooperation – is critical. Results from the World Economic Forum’s 2019 Executive Opinion Survey suggest that the threat of a major economic slowdown is high on the minds of business leaders worldwide, with growing apprehension about a wide ra ... Continue Reading »
Global Climate Regulation Looms on the Horizon. Are Banks and Insurers Ready?
Many of the world’s leading banks and insurers are busy finalizing their response plans to the Bank of England’s innocuous-sounding supervisory statement number SS3/19. It sets out the regulator’s expectations for how banks and insurers should manage the financial risks of climate change, including modification of governance and risk management frameworks, development of scena ... Continue Reading »
Digitizing Risk: Don’t Give the Robots Free Rein Just Yet
Before giving artificial intelligence and machine learning free rein, financial firms must ensure that the decisions these programs make do not result in new risks and expensive regulatory breaches. The risk and compliance standards put in place after the financial crisis are not going away. But what if financial institutions could turn the situation into a competitive ... Continue Reading »
Managing Employees Amidst Digital Transformations
While the digital revolution is already underway in most organizations, it is yet to have the kind of impact, positive or negative, that many predicted. As such, most organizations have not yet adopted any design or implementation strategies that would truly leverage the digital revolution by increasing productivity and work outcomes, according to Wolfram Hedrich, Executive ... Continue Reading »
