These risk managers are eager to play a more proactive role in the value chain and influence strategic decision-making related to risk, resilience, and mitigation initiatives. They seek greater autonomy to implement risk management strategies based on their unique perspectives and prioritize transparent collaborations that provide data-driven insights to empower them to act. This marks a departure from the traditional approach of solely relying on insurance coverage to transfer risks.
Some key findings include:
74% of risk managers want more property insurance underwriting and pricing transparency.
75% of risk managers say managing SOV data is complicated.
Only 17% of risk managers understand how insurers use their statement of values (SOV) data.