Economic Outlook 'Not so Rosy': Swiss Re's Ermotti

The video discusses the volatility in the reinsurance industry, influenced by events like COVID and the Ukraine war. It explores the impact of oil embargoes and inflation on claims, and the industry's approach to risk scenarios. The discussion extends to pandemic preparedness, changes in risk perception, and the role of blockchain in insurance. It highlights the significant insurance gaps worldwide and their contribution to global inequality. Finally, it addresses sustainability efforts within the insurance sector, aiming for carbon neutrality by 2030.

What is a primary role of the reinsurance industry?

• To provide direct insurance to individuals

• To absorb risks not covered by primary insurers

• To eliminate all risks in the market

• To offer loans to insurance companies

How does inflation affect insurance claims?

• It makes claims processing faster

• It increases the cost of claims

• It has no impact on claims

• It decreases the cost of claims

What is the expected financial impact of the Ukraine war on the insurance industry?

• 10 to 20 billion

• 20 to 30 billion

• 5 to 10 billion

• 30 to 40 billion

What percentage of global risks are currently uninsured?

• 75%

• 50%

• 90%

• 25%

How has the perception of risk changed due to recent global events?

• People are only interested in health insurance

• There is an increased demand for life and cyber insurance

• People are less interested in insurance

• Risk perception has remained the same

What is one potential benefit of using blockchain in the insurance industry?

• It eliminates all risks

• It improves the efficiency of documentation processes

• It increases the cost of insurance

• It reduces the need for insurance

What sustainability goal is the insurance industry aiming for by 2030?

• To double their profits

• To become carbon neutral

• To insure all global risks

• To eliminate all polluting energy producers