Swiss Re's SONAR: new emerging risk insights for 2016

Turmoil in emerging markets, increased localisation of internet networks within country borders and financial repression are some of the risks covered in this year's SONAR report published today. The publication is based on the SONAR process, an innovative crowdsourcing tool drawing on Swiss Re's unique internal risk management expertise to pick up early signals.

It would be easy to just focus on the business that the re/insurance industry already underwrites. But we need to help promote a resilient society and sustainable business, and that means understanding today's developments and preparing for tomorrow's risks.

In a future in which change is the only constant, foresight information is crucial to prepare for tomorrow's challenges. The earlier the insurance industry adapts to emerging risks, the better prepared it will be for future exposures and opportunities. Sharing knowledge is a good first step to prepare for what might lie ahead.

The 2016 edition of Swiss Re's SONAR report analyses 21 emerging risks from an insurance perspective, ranging from the challenges of the sharing economy to the risks and opportunities of precision medicine. It also looks at five emerging trend spotlights such as Health 4.0, gamification or space race reloaded.  

The potential impact for each risk examined in SONAR is designated as high, medium or low and categorised according to the insurance-related business area: property, casualty, life & health, financial markets, and operations. The risks are also divided among time frames, distinguishing between those that are likely to manifest in the near future and those that are still further ahead.

The SONAR report is intended to raise awareness on what the future might bring and to start a discussion on how to best prepare for it. We look forward to continuing the dialogue.

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Posted by tcj on 21 Jun 2016

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