Resilience notwithstanding the turbulence: Dealing with systemic risks unleashed by Climate Change!

I was honoured to present to the General Association of the German Insurance Industry, earlier today – on behalf of Mr. Gautam Boda, Group Vice Chairman, JB Boda & Co. The GVNW represents the interests of the German insurance industry and advises them in the various areas of insurance cover. Needless to mention, in addressing the Climate Crisis the money pipeline ought to be addressed, too. Insurance is an important component of this pipeline.

Metaphorically speaking the business climate in India is in a state of flux and will only intensify. Going forward the key driver will indeed be #ClimateChange. What makes this a fascinating subject matter is the fact that several inter-related triggers are together driving it into a systemic zone. The ongoing blending of emerging risks is creating a heady concoction. It is thereby nudging risk management to overcome its myopia, self-imposed limitations, reactive methodologies and reliance on the retrospective. Leveraging the emerging systemic risks calls for imagination, adaptive practices and all-round resilience – so as to anticipate new demands of this marketplace and arrive at a win-win outcome. The presentation endeavoured to chart this path.