The pandemic and global supply chain issues have presented real challenges to relationships between some risk managers and their insurers. But with a renewed focus on technology, contract certainty and data analytics, there is mounting interest in global programmes to help multinationals manage an extremely difficult risk landscape. In the recently published Commercial Risk Global Programmes Report, Brian Grabek, EVP Multinational Leader, Sompo, notes that the current environment provides the insurance industry with the opportunity to show its value by discussing emerging trends with insureds and having candid conversations about difficult areas of cover to deliver more certainty and predictability in their programmes.
“We have to learn how to utilise technology more effectively to thoroughly understand the defining issues of the future and get ahead of them. I think it starts by doing a better job of leaning in and listening to clients, and understanding their needs and the future goals of their businesses,” he said. “Clients value our extensive advisory and risk management capabilities.” As Sompo is a global insurer, clients “value our knowledge of local markets and how each country operates. They value the insight we provide into emerging and evolving risks, enabling them to seamlessly adapt – which is essential to what we do. Of course, providing a commensurate price for the risk we are taking is a big part of it, but the services provided and how we evaluate and analyse emerging trends and data are really at the forefront of the value that we provide,” he added.
Read the full interview published in the Commercial Risk Global Programmes Report.
About Sompo
Sompo Holdings Ltd. is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Through its operating subsidiaries, Sompo writes agriculture, professional lines, property, marine, energy, casualty and other specialty lines of insurance and catastrophe, property, casualty, professional lines, weather risk and specialty lines of reinsurance. Sompo companies are wholly owned subsidiaries of Sompo Holdings, Inc., whose core business encompasses one of the largest property and casualty insurance groups in the Japanese domestic market. We maintain excellent financial strength as evidenced by the ratings of A+ (Superior) from A.M. Best (XV size category) and A+ (Strong) from Standard and Poor’s on our principal operating subsidiaries. Sompo’s headquarters are located at Waterloo House, 100 Pitts Bay Road, Pembroke HM 08, Bermuda and its mailing address is Sompo, Suite No. 784, No. 48 Par-la-Ville Road, Hamilton HM 11, Bermuda.
For more information about Sompo, please visit www.sompo-intl.com.