Emerging risks and insurance innovation - 2018 update
In this IIL London Market lecture Trevor Maynard talked about some research the Innovation Team has published over the previous year on a variety of risk topics and gave a heads up on what's to come in 2018.
Innovation can take many forms from use of new technologies to stream line process through to creatively exploiting a better understanding for risk. This lecture covered Lloyd's recent publications on Counterfactual risk analysis, Cloud Cyber attacks, Marine extreme risks modelling, Middle East Quake risk and Liability risk modelling. Some areas of focus for 2018 were also highlighted including: Mining, Supply chain risks, Crop covers in India and the new Digital Economy.
By the end of this lecture members would have gained an insight into:
- The importance of innovation in the insurance market
- Some key emerging risks that will have important insurance consequences
- Various methodologies for assessing risks
Trevor has worked at Lloyd's for 13 years and set up the new Innovation Team at Lloyd's in 2017. The team seeks to foster innovation in the Lloyd's market.
Ken Curtis, Finance Director, LMA.
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