Munich Hot Topics June 2019

HOT TOPICS

June 2019 | Munich

BROKERS:
1. Broker consolidation: is this a concern? Why yes or no?

2. One area of frustration is the ability for brokers to transition from insurance placement to a more
holistic risk advisor; there is a lot of talk in this area but less change in actual practice (where do the
hurdles lie in creating a more beneficial relationship for all parties).

CAPTIVES:
1. Are they dead in the current format / locations, given OECD positioning, and what alternatives are
members looking at?

CLAIMS/PROCESS:
1. Business Interruption claim process improvement, or use of parametric triggers in the future? Claims
take too long, both sides spend too much time/money with forensic accountants, always have some
aspect that's difficult to 'prove' via traditional accounting methods. Anyone thinking about or already
using parametric’s or other non-traditional tools?

2. Frustration: Adjustment process for BI claims. Unnecessarily long and conflictual.

3. Has anyone undertaken a loss portfolio transfer (eg asbestos related exposures) where they have
been able to ensure sufficient governance over the future management of claims such that the
reputational risk is minimal?

CYBER:
1. To what extent are RM members experiencing "silent cyber" reviews of their P/C policies? Are carrier
members undertaking such reviews and if so, with what goal?

2. The way silent cyber is addressed in the markets.

3. How to define what is truly available from cyber insurance and whether it fits corporate risk exposure
and needs (in 6 months).

4. Interested in current state of cyber insurance market.

5. Cyber ransom linked to crypto-currency: any experience and what is the RM policy around it?

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HOT TOPICS

June 2019 | Munich
MANAGE RISK:

1. Climate Change resilience - We have begun looking into this from a strategic lens (separate to the
corporate social responsibility targets re. environment etc.) ...are members doing likewise and any
tips on approaches that work well?

2. Natural Hazard risks - beyond hazard studies, any great learnings coming out on practical risk
management techniques or resources that are supporting their sites?

3. Economic (territory) risk - we use a number of risk radar tools and dashboards to inform our thinking
and provoke planning in the business - How are members going about engaging their businesses to
support identifying and actively adapting to macro-economic risk?

4. International Trade sanctions: how to manage risk countries in the marine industry.
5. Providing risk managers with more meaningful mechanisms to accurately quantify their risk exposure,

purchase the right level of limit, at the right retention.
6. Shifting archaic insurance policy language into language that is clearly understood and akin to the

buyers (an FI) risks.

MARKET:
1. Many lines of insurance are firming and in positive price / premium transition. What is on the
customer's wish list in terms of assistance from carriers in helping them manage through this market?
2. Changing insurance markets in Property and D&O. Is this a hard market?
3. What is happening in the market? This isn’t a capacity constrained hard market. What should we all
expect?
4. Would like to understand views on development of Property Risk pricing given recent insurer results.
5. Renewal season: experiences and lead indicators.

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HOT TOPICS

June 2019 | Munich

TECHNOLOGY:
1. Any update regarding insurer tech or AI.
2. Client's portal: what does RM expect?
3. The use (and appetite) of Blockchain technology when designing a multinational insurance program.
4. RMIS systems and case studies on actionable insights vs. static storage of company information.
Building on the same theme, are there examples risk managers or insurance companies can share on
company data not readily available a few years ago that they have now accessed and has made a
notable difference in their risk management strategy or underwriting respectively.
5. Would be interested in any updates on user experiences with respect to (a) implementation of data
privacy legislation (e.g. GDPR), and (b) address OECD and BEPS initiatives with respect to transfer
pricing and Economic Substance.

OTHER:
1. Member Roundtable current issues.
2. Interested to know how Risk Managers try to build relationships between key insurers and their own
senior leaders. Does everyone do this?
3. What does the future insurance risk manager/underwriter look like and how are we succession
planning?

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