The word of the week at the World Economic Forum in Davos was polycrisis. Speakers explored the interconnected nature of risk, from inflation to ageing populations, and the role insurers play in building resilience.

Here’s what we heard from António Guterres, United Nations Secretary General; Gita Gopinath, First Deputy Managing Director, International Monetary Fund; Roy Gori, CEO & President, Manulife & Lard Friese, CEO & Chairman of the Executive Board, Aegon.

Issue summary

Low population health is associated with reduced economic prosperity, and medical expenses can plunge people into poverty, especially if unexpected. Insurance is a key tool used to manage health risks, facilitating access to and usage of healthcare services and protecting against financial shocks should a health issue arise.  

The effects of inflation, from price instability to the erosion of purchasing power and savings, are top of mind for households and businesses and affect perceptions of and expectations from insurance.

This 60-second video sums up our report by Kai-Uwe Schanz and Pieralberto Treccani on how insurers can respond to the challenge of inflation and continue to provide value to their customers.

Human activity is degrading biodiversity and nature at an alarming rate. Re/insurers have a unique opportunity to reduce exposure to nature-related risks and promote more sustainable, nature-positive economies. Find out more in our latest report Nature and the Insurance Industry: Taking action towards a nature-positive economy.

Large-scale nature degradation and biodiversity loss are some of the most threatening risks facing the world, carrying grave consequences for societies and economies.