On the 11th of May 2022 the IIWC hosted the Risk Engineering and the trends shaping the world of Insurance Webinar. We would like to thank Discovery Insure for sponsoring this event.
The Presenters were Precious Nduli , Rouxne Prinsloo and Clyde Troup.
Precious Nduli spoke on underlying trends which include Technology, social responsibility, and the nature of risk.
Insurers are becoming more innovative, taking more measures to harness the information they have through technology and digitalization as well as placing more emphasis on emerging risks.
Covid-19 has had a long-lasting effect on the insurance landscape coupled with Inflation and load shedding. These are all having an impact on the severity and frequency of losses whether indirectly or directly.
Ms Nduli reiterated the importance of Insurers finding solutions through value-adding products for clients.
The second part of the Webinar, presented by Rouxne Prinsloo and supported by Clyde Troup, detailed aspects of risk engineering and how it can be used to improve business risk.
Understanding the nature of risk is important to find solutions. This will enable a Business to harness the right tools and resources.
Ms Prinsloo noted, “ Insurers can provide the right tools that help businesses assess risk and get comprehensive insights into the risks as well as advice on how to improve those risks. Many business leaders are aware of the long-term benefits of risk mitigation but are not confident that their risk management practices are sufficient for the future.”
The Webinar was well received by the attendees.
Remember to book your spot for our June Edu-Webinars on Group Personal Accident & Cyber in the SME Sector and Classroom Session on Introduction to Commercial Insurance.