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Actuarial Post "Aon's 7 emerging risk opportunities for insurance growth”

Actuarial Post "Aon's 7 emerging risk opportunities for insurance growth
http://www.actuarialpost.co.uk/article/aon----039s-7-emerging-risk-opportunities-for-insurance-growth-8522.htm

The seven key emerging risks identified by the report comprise:

  1. U.S. mortgage credit: Freddie Mac and Fannie Mae are transferring U.S. mortgage market risk in a series of reinsurance transactions, with the potential demand for USD6 billion of reinsurance limit annually.
  2. Sharing economy: with individuals renting out personal assets for money in direct competition with established businesses like hotels and taxis, coverage gaps highlight an immediate opportunity for re/insurers to offer policies which span personal and commercial exposures.
  3. Reputation and brand: the #1 risk identified by the 2015 Aon Global Risk Management Survey.
  4. Microinsurance: offering access to four billion potential new customers, and with opportunities for long-term growth as developing economies gradually become more affluent.
  5. Corporate liability: opportunities for re/insurers to provide cover for giga losses, which require more than USD1 billion of reinsurance limit.
  6. Terrorism: leveraging military-based technology to better understand this risk and improve model competencies, such as accounting for factors that mitigate blast zone damage.
  7. Cyber risk: as data and analytics improve, Aon forecasts that cyber risk will move from complex and undermanaged into the insurance mainstream, where markets can adequately price and transfer risk.