
Traditionally, insurance has tended to be quite a backwards-looking industry, measuring previous activity to price for the future. For some perils, the past is not a bad proxy of the future, she said, but for others, the environment is changing, and the risks that customers face are changing with it. In emerging areas, underwriters need to be really focused on what’s happening in the external risk environment and to use those insights to develop new products and new mitigation solutions.