From loss coverage to prevention – the ‘Great Recalculation’

“Understanding the many risks that can occur is key for a business of any size to become more flexible and adaptable to risk management,” says Rea.

What’s more, risks do not always materialise in isolation.

“Once a business understands this complexity, and their exposures, and then evaluates the magnitude of that exposure potential, they can make clear and tactical decisions on how to prevent and prepare for events that can lead to injury to employees or members of the public, financial loss, interruption to activity at their own premises, or severe interruption and disruption upstream to suppliers, or downstream to customers,” says Rea.

Flattening the risk curve

Zurich is one of a handful of companies to have realised the sea change taking place in both the business environment and customer attitudes toward risk and the need to actively tamp down risk impacts. It is also one of earliest to retool its offerings for this brave new world.