Moreover, a comprehensive enterprise risk management strategy bolsters an insurer’s business resilience. Property and casualty insurers eager to capitalise on the potential of platform businesses will have to ensure that their risk management can accommodate much closer ties with customers and customers , according to analysts at Accenture . Increased levels of intimacy will expose insurers to far greater levels of systemic risk . Carriers will need to determine whether they will act as utilities , solutions integrators , or risk orchestrators , and then tailor their risk management systems accordingly . Many insurers still manage cyber risk separately from operational risk , but property and casualty insurance need to consolidate risk strategies .
Property and casualty insurers eager to capitalise on the potential of platform businesses will have to ensure that their risk management can accommodate much closer ties with customers and customers , according to analysts at Accenture . Increased levels of intimacy will expose insurers to far greater levels of systemic risk . Carriers will need to determine whether they will act as utilities , solutions integrators , or risk orchestrators , and then tailor their risk management systems accordingly . Many insurers still manage cyber risk separately from operational risk , but property and casualty insurance need to consolidate risk strategies .