Christian Mumenthaler, Chief Executive Officer (CEO) at Swiss Re, has argued that data and digitalisation will be key levers for re/insurers to tackle ‘uninsurable’ risks and reduce the global protection gap.
Writing as part of a recent blog post, the Swiss Re executive noted that the pandemic has exacerbated the growing gap between economic and insured losses, which poses serious issues for societal resilience particularly in emerging and developing countries.
“In essence, I see big data as the fertile ground to create new markets and to diversify risks that up to now were considered uninsurable,” Mumenthaler remarked. “I think it’s no surprise that data is sometimes referred to as the new gold.”
