Emerging Risks in World Markets

With world events such as an international pandemic, conflicts among countries in Eastern Europe, a changing world economic map in employment and inflation, and many others, actuaries and their companies and clients face a wide variety of emerging risks. New risks have come on to the financial services and insurance industry radar in recent years and have varying impacts based upon the proximity to the risk and prominence in any local market. The Society of Actuaries has surveyed for many years risk managers across North America and in recent years has expanded survey focus to the Greater Asia-Pacific and China markets to collect thoughts and trends in emerging risks. The 15th annual emerging risk survey was completed recently which focus mainly on North America, and by summer 2023 at least 2 surveys focused in Asia markets will be complete. These surveys highlight the growth of pandemic trends, the emergence of cybersecurity as a risk, a focus on climate risk imparting the financial services and insurance industry, financial market volatility, as well as many other risks. We expect as well that the combination of world events and conflicts, supply chain issues, employment trends, changing demographics and inflation will continue to be a key part of what risk managers and actuaries are focusing their sights on in the coming years.

This presentation will highlight the risk trends that have grown and the steps being seen within the profession to measure, manage and mitigate many of the emerging risks that are occurring.

Find the Q&A here: Q&A on 'Managing Emerging Risks'