SONAR 2024: New emerging risk insights – APAC Webinar

The world is facing a poly-crisis of interconnected and complex new and emerging risks, driven by climate change, geopolitical instability, social inequality, digital transformation, and health challenges. SONAR 2024, our latest emerging risk insights report, reflects the range of risks and uncertainties that will shape the global risk landscape of the insurance industry. 

Our webinar event takes a deeper dive into some of the risk insights: 

• Underfunding of public health - harmful to morbidity, mortality and GDP
  A robust healthcare system requires countries to spend around 7% to 7.5% of gross domestic product (GDP). However, 132 countries spend less than his threshold. Over time, consistent underinvestment could lead to higher morbidity and mortality rates, potentially exacerbating future pandemics and also resulting in lower global GDP. 
• Climate change – an evolving threat to international security
  2023 was the hottest year on record with climate change shifting the frequency and severity of some natural hazards. While climate change impacts are not a direct root cause of civil unrest, terrorism or armed conflict, but they are recognised as destabilising factors.