New financial risks present more opportunities for insurance

New financial risks present more opportunities for insurance | Insurance Business America

New financial risks present more opportunities for insurance

Strained government finances, auto safety and segmentation are just three trends that are creating opportunities for insurers, Aon Benfield revealed at the 13th Biennial Hazards Conference in Australia.

Bryon Ehrhart, chief strategy officer for Aon Benfield and chairman of its analytics and investment Banking divisions, introduced the conference by discussing the emerging global trends impacting insurance markets. This is part of the 'Think Outside the Risk' theme, which aims to stimulate thinking among delegates about big picture trends.

Ehrhart discussed the business drivers and influences that are now changing key segments of the global insurance markets. These include:

1. Auto safety

2. Urbanization

3. Low interest rates and longevity

4. Pace of technology change

5. Segmentation

6. Changing governmental roles

7. Catastrophic corporate liability

8. Strained government finances

 “Insurers have so many new opportunities to grow,” Ehrhart said. “The products and services insurers can offer address the new financial risks faced by consumers.”