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Introducion
SwissRe Risk Radar
New emerging risk insights
(developed by Steinbeis Advanced Risk Technologies GmbH (www.risk-technologies.com))
Emerging Risks are newly developing or changing risks (i.e. familiar risks in a new or unfamiliar context). They are perceived to be potentially significant, but are not fully understood and are therefore difficult to quantify – which means their potential business impact is not yet sufficiently taken into account.
Re/insurers operate in a complex and ever faster changing risk landscape. New economic, technological, socio-political, regulatory and environmental developments, growing interdependencies, evolving liability and legal regimes, strengthening stakeholder expectations and shifting risk perceptions give rise to emerging risks. The most dangerous emerging risks have cascading effects, amounting to huge loss potentials.
Swiss Re’s Emerging Risk Management is centered in the SONAR network, an Ourspace-based platform to collect early signals for emerging risk. The network is open to all Swiss Re employees. Network members are asked to submit risk notions describing early signals they have identified. Based on these signals, the Emerging Risk Management team and the SONAR expert network develop risk themes, which are validated by senior SONAR officers. Other inputs for risk notions are collected from think tanks, governmental bodies and NGOs, as well as from private companies.
The Swiss Re Risk Radar supports the horizon scanning process, the harvesting of early signals and the crafting of risk notions by a tailor-made, semi-automated search engine scrolling internet blogs.
www.e2r2.eu
Risk Radar Tool
The tool supports the SONAR action by identifing and emerging risks. The tool is ment to signal the emergance of new risks which may be "beyond the horizon" and, thus, enable the SwissRe and other users to prepare for further challenges.
The current version of the tool is focussed on to the issue of Industry 4.0 (Inteligante Manufacturing, Internet of Things, ...).
R. Egloff, R. Schneider, SwissRe
N. Markovic, P. Klimek, A. Jovanovic, Steinbeis R-Tech
June 2016
Contact information
Contacts
Steinbeis Advanced Risk Technologies GmbH
Lange str. 54
70174 Stuttgart
Germany
P: +49 71141004 124 F: +49 71141004 133
Swiss Re
Mythenquai 50/60
8022 Zurich
Switzerland
P: +41 43 285 2121 F: +41 43 285 2999
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