Preparedness of insurers to handle risks by sector 2019

In 2019, reinsurance was the insurance sector with the highest Preparedness Index score globally, which was 3.20 for that year. This means that the reinsurance respondents were the most prepared to handle risks, such as cyber risk, change management, and technology.

Preparedness index score of insurance practitioners and industry observers worldwide in 2019, by sector

Region	Preparedness index score (the higher the score, the greater preparedness)
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Release date

June 2019

More information

Region

Worldwide

Survey time period

2019

Number of respondents

900 respondents

Special properties

insurance practitioners and industry observers in 53 countries

Supplementary notes

The source asked the respondents how well prepared the insurance industry was to handle the following risks identified:
Technology, cyber risk, change management, regulation, investment performance, climate change, competition, human talent, macroeconomy, interest rates, political risk, cost reduction, reputation, guaranteed products, business practices, quality of management, credit risk, social change, corporate governance, capital availability, and Brexit.

The Preparedness Index measures the average response given to the question: “How well prepared do you think the insurance industry is to handle the risks you identified?” where 1=Poorly and 5=Well. The higher the score, the greater the implied level of preparedness.

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