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Alternative Market Briefing

Identifying “Emerging risks” leads to opportunities in the re-insurance business

Monday, February 18, 2013

amb
Iordanis Chatziprodromou
From Komfie Manalo, Opalesque Asia:

As Senior Risk Manager at the Swiss based reinsurance firm Swiss Re, Iordanis Chatziprodromou said that identifying emerging risks helps reinsurers to plan ahead and seize opportunities.

In an interview on Opalesque Radio with Sona Blessing, Iordanis said he focuses mainly on the identification, analysis and quantification of emerging: technological, financial and economic risks. Before joining Swiss Re, he worked in the finance industry predominantly as a quantitative analyst.

He said, "Identifying new risks gives us a chance to implement measures for protection and to act timely and get a full grasp of opportunities. When you identify risk in the insurance industry, you have an advantage."

According to him, emerging risks are "Newly developing, or changing risks that are difficult to quantify and may have a major or considerable impact on society and industry." For example, a recent analysis they did dealt with potential power black outs due to space weather. This became popular due to the Solar Cycle and the media attention the subject drew. "So this could be considered as a "new-old-risk" meaning that we understand it better and now we perceive it as a real threat."

Being able to identify such risks also gives them an advantage over their competitors,......................

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