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Frank Romeike, Managing Partner, RiskNET – The Risk Managment Network
Against the backdrop of the psychologically based subjectivity in risk perception, it is necessary to develop a set of tools focused on counteracting risk blindness. We need evidence-based methods – for example, to assess and aggregate risks – because intuition too often fails when it comes to taking risky decisions in complex situations.
In the United States, the Property and Casualty insurance marketplace, along with the rest of the insurance industry, is facing a wide range of issues arising out of the COVID‑19 global pandemic. However, social inflation continues to present the most significant long-term challenge to Property and Casualty insurers and it appears poised to impact insurers outside of the United States as well.
The article is aimed at leaders in the insurance industry who want to instigate and successfully implement change projects in their organisations in a time of dramatic upheavals. The author, Ulrich Geuther, is a leadership trainer and coach based in Lisbon, Portugal. He has been supporting change management projects in companies in a wide range of industries for more than 20 years. His summary: Conventional change management is not sufficient to prepare companies for the future.
