In collaboration with InsuranceERM, we interviewed 15 chief risk officers, heads of capital management and group actuaries at insurance companies across Europe to gauge attitudes to risk technology, the pressures the industry faces, downsides of adopting new technology and the future shape of the industry.
These questions were considered:
- How has technology changed the way you model risk?
- What is driving you to seek out better technology?
- What can’t you do now because of technology restrictions?
- What do you want to see from the risk modelling technology of the future? And why?
- How will access to greater computing power, for example through the cloud, access to better data analytics and the use of ‘big data’ make a difference to your risk modelling?
- What are the downsides to adopting new modelling technologies?
- Imagine if all the technology constraints went away: what would you be doing differently in terms of managing your risk and your business?