The Insurance Couch Podcast - Risk Appetite

Get Your Insurance Fix on “The Insurance Couch” Podcast! Join Oliver Lang, former CEO of InsurTech Unicorn Wefox/One Insurance, supervisory board member and advisor and Nikolaus Sühr, Co-Founder and CEO of InsurTech enabler ⁠⁠KASKO⁠⁠ as they bring you unique insights from their experiences in the insurance world.This episode they talk about the Risk Appetite of Insurers:Every insurance Board of Directors must issue a Risk Appetite Statement.However, there aren’t many proper and specific Risk Appetite Statements for insurers. Yet, defining the Risk Appetite isn’t that hard.For a Financial Risk Appetite Statement you must define clear financial dangers and assign maximum acceptable frequencies to them. This is easier than it sounds.There are only 3 kinds of financial dangers: regulatory intervention, loss of rating, and drop in profit. Regulatory intervention is a relevant danger for every insurer, loss of rating is only relevant for commercial insurers and reinsurers, drop I profit is only relevant for publicly listed insurers.A Board of Directors Risk Appetite Statement must consequently broken down into operable limits, thresholds, guidelines, and controls.Listen to “The Insurance Couch” to stay tuned for the newest chatter about the industry!#insurance #insuranceindustry #versicherungsbranche #versicherung #versicherer #growth #opportunity #risk #riskmanagement