Kidnap and Ransom cover is a good example of how insurers can offer much more than a risk transfer product. With their extensive experience and access to experts, specialist insurers can guide their customers (e.g. through pricing and policy terms) on security measures to minimise the risk of their employees being kidnapped in the first place. And if the worst happens and an employee is kidnapped, insurers deploy their experience, expertise and network of experts to maximise the chances of a positive outcome.

Looking beyond K&R, new technologies - in particular the Internet of Things (IoT) - offer a wealth of new opportunities for insurers to offer a proactive service. AXA's engagement with Rolls Royce in autonomous shipping is a notable recent example.