Reputational & Emerging Risk Observatory

The structured control of reputational and emerging risks with a strategic and proactive approach aimed at anticipating trends to prevent emerging risks and seize new business opportunities.

Born in 2014 as an instrument for protecting Group reputation and strategy, the Observatory contributes to the creation and strengthening of reputational assets and strategic positioning over time, generating a competitive advantage and anticipating future trends in order to seize new business opportunities.

For this purpose, the Observatory makes use of a consolidated predictive model based on the Meeting Point methodology, in collaboration with Ms. Egeria Di Nallo of the University of Bologna.

The value brought to the Group by the Observatory is the guarantee of a window on the future, that is openness to signs of change in the various aspects of the external context – i.e. social, technological, environmental, political and regulatory aspects – as well as the competitive environment, providing a 360-degree overview of emerging trends in order to ensure adequate protection from related threats and, at the same time, seize new opportunities in advance and guarantee an effective safeguard of emerging reputational risks by ensuring a continuous alignment of the Group’s responses to the stakeholders’ expectations.

In fact, it is more and more important for companies to anticipate changes with a proactive and integrated approach because the speed of change and degree of complexity and uncertainty of future scenarios have increased significantly.

Anticipating change is essential  to prepare the Group today for the risks and opportunities of tomorrow.

The analysis carried out by the Observatory is a process that has been developing over the years, one that constantly alternates between the identification phase of future signals, embodied in macro trends, the assessment of the Group’s responses and a continuous update and consolidation over time.

Map of interconnections

Environmental Technological Political
Important customization and service leverage, to be valued through an integrated strategy that ensures the ownership of data, know-how, and customer relations. The new topics to watch are the New Computational Boundaries, embodied in quantum and biological technologies, and Industry 4.0, which will make manufacturing smart, interconnected and cooperative.
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Management of Intangibles and Human Capital. New skills to respond to changing trends and new smart-working methods. The Service Ecosystem represents the topic of the future to watch, aimed at growth to be reflected through a new business model for retaining customer loyalty and satisfying customer needs, which will overcome the vertical division between sectors through the development of multidisciplinary approaches and forms of contamination.
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Technology at the service of security drives the new mobility towards “assisted driving” and the new frontiers of “self-driving”, while raising a dilemma about liability and ethics, as well as increasing the vulnerability to cyber risks.
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The demographic evolution and new family profile will give rise to new needs that the insurance industry is called upon to answer with a differentiated and tailor-made offer.
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Consumers are increasingly hybrid, and even in the relationship with insurance they are searching for an increasingly seamless experience, one with no discontinuity between real and virtual world. The new Brick & Click topic represents the future of integration and cooperation between physical channels and virtual channels, of which the “digital do-it-yourself” is the most obvious expression. The topic of Virtual Reality in Business will enable the enhancement of marketing, pricing, underwriting and assistance tools.
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Discussions continue on the introduction of a mixed public-private system, in which the insurance sector may contribute to managing the risks of climate change in terms of both mitigation and adaptation, for a more resilient country. Innovating to Zero represents the topic to watch, a vision for a zero-emission world and zero negative externalities.
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The revolutionary paradigm of sharing, based on access, recycling and p2p networks, is a cultural change the insurance industry is capable of answering by rediscovering the “sharing” nature of its mutual roots and its guarantee role in support of peer-to-peer trust. The new topic to watch is Blockchain, the distributed registry underlying Bitcoin and the insurance business in the near future.
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In a world where changes are increasingly happening on a global scale, great opportunities for growth and partnership are opening up, but geo-political and contagion risks increase.
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In light of a growing sense of vulnerability and social polarisation, the insurance sector may respond by increasing accessibility for the most vulnerable groups in order to protect living standards and by developing value-added services for the most elite. The distrust of the Authorities and institutions is growing and the feeling of social distance increasing.
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Healthcare and Welfare, from treatment to prevention in an increasingly customized system. The topics to watch are the adoption of alternative diets, therapeutic freedom, and increase in mental illnesses.
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Artificial Intelligence and Robotics are designed to innovate the insurance industry from the inside and in its relations with customers, in a synergistic and complementary relationship between man and machine.
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A window on the future
A predictive model on relevant topics for the sector.
The methodological framework
The four key pillars.
The Emerging Trend Radar
Material emerging topics and future risks and opportunities.