Thomas Anderson, head of sales, U.S. for AdvantageGo, said: "I would say in five years, we will probably look back at this conversation and laugh at saying: 'Wow, we've gone so far.' We are at the starting line, and now we have to put the pedal to the metal." (Credit: Wright Studio/Shutterstock.com)
Despite running their portfolios through risk scenarios and looking at maximum loss potential, some in the industry were caught off guard by how deeply systemic risk ran through their organizations during 2020, said panelists at a Reuters' Future of Insurance event.
"We always say we have all these unknown unknowns. You don't know what's truly going to happen," said Nancy Bewlay, global chief underwriting officer of AXA XL. She noted a question brought up from the past year on "how to provide contract certainty to clients" while making sure that the objective is clear to all stakeholders.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
