Archive for July 2018

Most Dangerous Risks

July 31, 2018

The short story “The Most Dangerous Game” has always fascinated. Wikipedia lists dozens of adaptations for Radio, Movies and TV.  The story is about the most dangerous quarry for a hunter.

Insurers are not hunters, they do not exactly seek out risk.  Well, maybe they do seek risks. But insurers should be aware that some risks are more dangerous than others.

In late 2017, RISKVIEWS polled 200 insurance executives and they provided their opinion of how to rank a long list of risks that threaten insurers.  The polling software, found at allourideas.com, asks participants to rank pairs of items and uses a complex algorithm to create a ranking of the entire list.  These 200 executives, on the average, chose to rank about 80 pairs making a total of over 16,000 rankings performed.

The results were published on the web here.  The Top 10 risks were:

1 Cybersecurity & Cybercrime
2 IT/Systems & Tech Gap
3 Strategic Direction & Opportunities Missed
4 Pricing & Product Line Profit
5 Runaway frequency or severity of claims
6 Disruptive Technology
7 Customer needs not served by traditional approaches
8 Emerging Risks
9 Competition
10 Underwriting

And in mid 2018, RISKVIEWS looked around to find out what news there had been regarding each of the top risks and published the findings here.

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