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Lloyd's CEO urges insurers to focus on risk knowledge rather than pricing

Focusing on price is not sustainable because insurers should instead understand exposure and how to price it

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“Now, people have to get their heads around hacking and damage to their reputation – what with social media, the Internet and technology. When you move into this area where the risks are not physical, it’s much more difficult to assess what they are, what the impact could be.” - Ms Beale, on how new and emerging risks – as opposed to risks of fires, floods and earthquakes – present opportunities and challenges to insurers

Singapore

AS underwriting profits decline, insurers need to focus on deepening their understanding of risks and improving their risk models to ensure the sector's sustainability, Lloyd's chief executive has said.

The call by Ms Inga Beale comes on the back of a squeeze on

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