Navigating the risk of digital in insurance

Insurtech Story Podcast

Jan 26 2023 • 19 mins

Top executive mindsets are being changed by the rapid digitalization of our lives and the ways we work, shop, and live. Nowadays, most CEOs do not still view technology as primarily being about cost savings. Instead, they recognize that if they want to delight customers, generate value for shareholders, and outperform their rivals, digital strategy, innovation, and operations must be a core strength of their organization. But only the most knowledgeable senior leaders are aware of the business necessity when it comes to digital risk management. These leaders take advantage of the chance to transform operational requirements into competitive advantages rather than obsessing over what could go wrong. The foundation for this skill is a thorough awareness of the underlying nature of digital risk and how it can evolve.

1. Operational, cyber, and value-creation risks are the common three forms of digital risk in modern businesses. Assessing the digital risk landscape begins with understanding this. How do you see insurers navigating through these risk types?

2. Each of these risk landscapes are unique and therefore to navigate through this and understand what it takes to build resilience, what would be your advice to senior leaders in insurance?

3. What is the implication of digital risk in insurance and what according to you will be the next 5 years outlook for the industry?

Speaker Bio: Arun Narayanan, is the Digital Strategy and Transformation Leader - Marsh Asia.