The pandemic and global supply chain issues have presented real challenges to relationships between some risk managers and their insurers. But with a renewed focus on technology, contract certainty and data analytics, there is mounting interest in global programmes to help multinationals manage an extremely difficult risk landscape. In the recently published Commercial Risk Global Programmes Report, Brian Grabek, EVP Multinational Leader, Sompo International, notes that the current environment provides the insurance industry with the opportunity to show its value by discussing emerging trends with insureds and having candid conversations about difficult areas of cover to deliver more certainty and predictability in their programmes.
“We have to learn how to utilise technology more effectively to thoroughly understand the defining issues of the future and get ahead of them. I think it starts by doing a better job of leaning in and listening to clients, and understanding their needs and the future goals of their businesses,” he said. “Clients value our extensive advisory and risk management capabilities.” As Sompo International is a global insurer, clients “value our knowledge of local markets and how each country operates. They value the insight we provide into emerging and evolving risks, enabling them to seamlessly adapt – which is essential to what we do. Of course, providing a commensurate price for the risk we are taking is a big part of it, but the services provided and how we evaluate and analyse emerging trends and data are really at the forefront of the value that we provide,” he added.