COVID-19 has demonstrated how a single event can trigger a systemic risk, which impacts many businesses, ignores geographic boundaries and creates losses that cannot be absorbed by the insurance industry alone.
Protection for losses from pandemics had been offered by the insurers but usually as a specialist cover. With some notable exceptions it was rarely taken out. Now COVID-19 has resulted in a multi-trillion dollar economic problem. Government and business are pointing at insurers and expecting them to help cover the costs.
This Live Chat explores practical and creative solutions for protecting against future mega-catastrophes including, but not limited to, pandemics. There are now opportunities to use Artificial Intelligence, with an understanding of the mechanism that is driving the losses, distributed ledger technology, and effective partnering of insurers, capital markets, and governments.
InsTech London Partner Matthew Grant is joined by:
Watch the Live Chat using the video player below.