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 founded on the Meeting Point methodology, in collaboration with Ms. Egeria Di Nallo of the University of Bologna, and methods based on futures studies for adopting a forward-looking approach in the medium-to-long term.

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, that represents a "training to the future" and 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
This includes the issues of the Internet of things, with a particular focus on the black box but also other devices more connected to the home (home automation and smart cities), enterprises, people (health and well-being), as well as Big data. In the area of threats, it includes the issue of the protection of personal data (privacy) as well as data security and cyber-crime. Includes the emerging issues of Industry 4.0 and the new computational frontiers.
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This concerns the need for new skills to respond to changing trends and new organizational paradigms to balance agility and stability. It includes the issues of skills gap, lifelong learning, smart working and organizational agility, contamination of skills and enhancement of diversity. It also includes the emerging issue of the creation of service ecosystems.
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This concerns new mobility models, technological evolution linked to mobility and the related effects on the insurance sector. It includes a specific in-depth analysis, as “an issue to watch”, of the technological evolution of cars with a particular focus on driverless cars and their impact in terms of liability.
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This includes aspects related to longevity and aging population (longevity, management of the elderly, spread of chronic diseases, value of children - fertility) and the progressive generational change, both of which are dynamics related to immigration and multiculturalism (cultural and religious amalgamation), and the evolution of families and social networks (extended families, de facto couples, singles, parent-child relationship, grandparent-grandchild relationship, work-life balance, pet affection).
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This concerns the hybridization of customer relations into a seamless customer journey between real and virtual world. It includes the topics of: web vitality, mobile Internet, virtual mobility, perpetual connectivity, access to services “anytime, anyway, anywhere”, e-commerce, domestic access time to financial services, time management savings, credibility and cyber-space security. This macro trend also analyses the emerging figure of the “prosumer”, more active and responsible in terms of role, behaviour and values. In this context, it focuses on the “Brick&Click” phenomenon, a contamination between Brick (physicality, modularity and construction) and Click (dematerialization, digitization and simplicity) that finds its most evident manifestation in “digital do-it-yourself”.
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The includes the issues of: climate change, extreme weather events, greenhouse gas emissions, spread of animal species, insects and micro-organisms, spread of new diseases (for the part related to climate change).
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This includes the evolution from ownership to access, forms of collaborative consumption, circular economy (propensity to use / ownership, propensity to share, neighbourhood online networks, open sources, crowdfunding, cloud technology, pay-as-you-go product consumption, recycling ...) and peer-to-peer trust.
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This regards the internationalization both of the insurance companies’ strategy of growth and consolidation and of support to corporate and SME customers (need to provide risk protection and management services on an international scale and support for the development and internationalization process of SMEs) and retail customers (e.g. education abroad). It includes the risk of contagion, the feeling of Europe, the growing political instability and the transition to a multipolar order, as well as the spread of diseases resulting from globalization.
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This includes the issues of fear, sense of vulnerability, unemployment and job insecurity, social polarization - broadly understood not only as disparity in financial resources but also in terms of access to opportunities - and social tensions. It also includes frugality and fight against waste (issues of downsizing and money management savings...).
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This regards the growing importance of health and welfare understood as well-being. It includes the phenomenon of health increasingly tailored to the patient and predictive, touching on issues such as developments in the field of biology and biogenetics and predictive models, prevention, preventive medicine, personalized drugs, the Quantified Self phenomenon, and, in the context of personalization and prevention, circadian rhythms, lifestyles and food, therapeutic freedom, addictions ... It also includes the increasingly relevant issues of chronic-degenerative diseases and mental illnesses. It deals with the issue of public-private (multi-pillar) integration and concerns the rebalancing of welfare actions between the State, the Market and collaborative economies.
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This concerns the application of new technologies in the field of robotics and artificial intelligence to support the innovation of insurance processes. It analyses the man-machine relationship and the birth of new business models deriving from the attribution of specific tasks to machines.
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This concerns the phenomenon of human empowerment through an increasingly symbiotic man-machine relationship, explored in different fields: from health care (on the patient’s and on the doctor’s side), work, ubiquity, to the future frontiers of augmented man for the strengthening of physical and cognitive functions and the emergence of the cyborg “species”. It includes the issues of virtual reality and augmented reality.
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This concerns the dark side of technology that has been increasingly evident after a phase of massive and pervasive diffusion and has manifested itself in many forms going from techno-addictions to dangers for young people, fake news and fake videos, ethical dilemmas related to the man-machine relationship and the risks of hacking and intrusion into privacy.
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This includes the metamorphosis of tangible assets into intangibles, the evolution of needs from the sphere of security to that of self-realization and the enrichment of assessment and reporting metrics with environmental, social and governance factors (ESG factors) from a long-term sustainability standpoint.
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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.