The latest Allianz Risk Barometer prompts a number of thoughts. Intangible risks (cyber, new technology etc) and threats to intangible assets (such as reputation or IP rights) are becoming more prevalent. And the physical and the intangible are becoming more intertwined. These developments pose challenges for insurers. Technology - in particular IoT and AI - could help in making some of these novel or hybrid risks tractable, and so insurable. Indeed, this could ultimately become a real growth area for the market.
Technology is breeding new threats as well as business models. Traditional risks such as natural catastrophes continue to challenge while other threats such as cyber, neck-and-neck with business interruption at the top of the Allianz Risk Barometer 2019 for the first time, reputational risk, increasing exposure to intangible assets and volatility and consolidation in the corporate environment evolve daily.