Skip to main content

Podcast

Risk in Context Podcast: Adapting insurance programmes to evolving risks through analytics-driven decisions

In this episode Marsh leaders discuss how data-focused analysis can help organisations gain a comprehensive understanding of how the evolving risk landscape can impact their organisation and help them build more responsive insurance programs.

In today's rapidly changing risk landscape, organisations are confronted with complex risks that can significantly impede their ability to achieve their strategic goals. The increasing frequency and severity of losses, coupled with catastrophic events, have heightened risk volatility, putting risk managers and senior leaders under increased pressure to make decisions that help them protect their organisation and its assets.

Effectively navigating this evolving risk environment requires businesses to implement a robust insurance programme that not only provides necessary protection, but also aligns with their unique risk appetite and minimises their total cost of risk. Data-grounded analysis helps senior leaders gain valuable insights to better understand how shifting risk dynamics may impact their operations, allowing them to more confidently align their insurance programmes with their specific needs and evolving risk profile.

In this episode of Risk in Context, Richard Baudin, Leader of Marsh’s International Specialty Advisory Practice, talks with David Kraft, Head of Risk Analytics for Europe, Lauren Irwin, UK Retail Cyber Sub-Team Leader, and Claire Garrett, Head of Marsh’s Financial Institutions Practice in the UK. They discuss how data-focused analysis can help organisations gain a comprehensive understanding of how the evolving risk landscape can impact their organisation and help them build more responsive insurance programmes.

Apple Podcast Spotify Podcast
Download transcript

Key takeaways

Analytics help optimise insurance strategies

As the risk landscape changes and the insurance market shifts, data-driven analytics programmes help organisations understand and quantify their changing risk profile and identify changes to improve their insurance programme and better align it to their evolving risk profile.

Data-driven programmes enable proactive decisions

As insurance rates change and risks evolve, organisations should consider regular data-based reviews of their risk transfer programme, allowing them to be agile in making the necessary changes to remain resilient and responsive to an ever-changing risk environment.

Analytics facilitate the identification of risk management deficiencies

A robust analytics programme can help organisations identify potential gaps and deficiencies in their risk management strategies and take action to improve them, which may, in turn, also impact their ability to secure adequate insurance coverage.

About our speakers

Richard Baudin

Richard Baudin

International Specialties Advisory Practice Leader

  • United Kingdom

Richard Baudin is the Leader of Marsh’s International Specialties Advisory Practice where he advises large and complex corporations and organisations on their risk financing strategy, overall risk management, and emerging risks. In serving global clients, he ensures that we have the best Advisory teams from across our firm delivering the comprehensive value of Marsh Advisory. He leads the strategy for Marsh International for Specialty Advisory, and the teams across international regions.

Lauren Irwin

Lauren Irwin

UK Retail Cyber Sub-Team Leader, Marsh Specialty

  • United Kingdom

Lauren Irwin is the UK Retail Cyber Sub-Team Leader. Based in London, her responsibilities include broking, structuring complex placements, vital account servicing, building relationships across the Lloyds and London market, as well as advisory work for some of Marsh’s largest clients. While she is currently focused on UK-domiciled clients, she has a host of international experience.

Placeholder Image

Claire Garrett

Head, Financial Institutions Practice, UK

  • United Kingdom

Claire Garrett is the Head of the Financial Institutions Practice in the UK. She has over 20 years’ experience working in the insurance industry. She joined Marsh in 2011 from a city law firm, where she was an insurance litigator for 10 years. In her current role, she is responsible for the management and oversight of financial lines programs for some of our largest global financial institutions, including insurance companies, banks, building societies, and fund managers.

David Kraft

David Kraft

Head of Risk Analytics, Continental Europe

  • Netherlands

David Kraft is the Head of Marsh Advisory Analytics Solutions in Europe. In this role he is responsible for the sales and delivery of Marsh’s wide range of capabilities in risk analytics, including data-based risk modelling, development of risk coverage options (including alternative risk transfer solutions) leveraging Marsh analytical tools, and global perspective on risk management solutions.

Related insights

This publication is not intended to be taken as advice regarding any individual situation and should not be relied upon as such. The information contained herein is based on sources we believe reliable, but we make no representation or warranty as to its accuracy. Marsh shall have no obligation to update this publication and shall have no liability to you or any other party arising out of this publication or any matter contained herein. Any statements concerning actuarial, tax, accounting, or legal matters are based solely on our experience as insurance brokers and risk consultants and are not to be relied upon as actuarial, accounting, tax, or legal advice, for which you should consult your own professional advisors. Any modelling, analytics, or projections are subject to inherent uncertainty, and any analysis could be materially affected if any underlying assumptions, conditions, information, or factors are inaccurate or incomplete or should change. Page Compliance ID