05/09/2024
Our main Nordic partner, If P&C, periodically publishes its digital magazine, containing articles of interest to the industry. This edition profiles us with: INGO, the insurance company operating in Ukraine; challenges of Europe, Asia and Latin America… We give you a preview of the highlights!
The second publication of the year of Risk Consulting Magazine, by If P&C, the insurance company headquartered in Oslo (Norway) and partner of MAPFRE Global Risks, which compiles “knowledge about risk management and loss prevention”, is already available.
In this edition you can find interesting articles focusing on different geographic areas:
Europe, Asia and Latin America: The management of maritime connections between Asia and Europe, and between Asia and Latin America, is facing challenges and strategies that include everything from cyberattack risks to changes in trade routes. These geographic areas are analyzed in two different entries:
On one hand, it reprints an article published in our Risk Management and Insurance Magazine by MAPFRE Global Risks entitled Challenges in maritime connections between Asia and Latin America. This article, in addition to discussing the need to improve the bureaucracy and legislation, also emphasizes the importance of developing navigable routes and establishing direct services with Southeast Asian ports in order to optimize trade routes and increase the efficiency of goods exchange.
Above all, it highlights the geopolitical tensions in the Red Sea and their impact on logistics through the Suez Canal. They also affect the consequences of climate instability, where the Panama Canal drought causes delays and, therefore, increased costs.
Ukraine. Is there insurance support during wartime? INGO is one of the largest insurance companies in Ukraine and, despite Covid-19 and the war, thirty years later, it maintains its commitment to the country’s insurance market, developing risk management programs and supporting both companies and individuals. The article states that the company is also actively participating in rebuilding Ukraine, underscoring its crucial role in the country’s critical infrastructure.
Asia: P&C offers an analysis of its presence on the continent, which is growing thanks to economic expansion and a greater awareness about the benefits of insurance. It also reflects the challenges the insurance industry will face due to the growth slowdown and the potential risk of climate change and cyber threats.
More specifically, it observes that India is experiencing significant economic growth driven by the strong infrastructure development, the increase in foreign investment and innovation. These factors allow the insurance market to expand rapidly, specifically in construction policies and health insurance. However, there are still risks, such as the adaptation to global standards.
Don’t miss the content of Risk Consulting where you will also find…
- “Vibrant Insurance Market in Singapore”, which emphasizes Singapore’s importance as a key regional center for insurance services in the Asia-Pacific region.
- “Digital Risk Mitigation with Ping An” about how Ping An Insurance has developed an advanced Digital Risk System (DRS) to help companies minimize economic losses and improve operational efficiency. This system uses Artificial Intelligence and Big Data technologies to identify and manage risks in real time.
- “Navigating Risks in Global Trade” deals with the importance of anticipating and managing risk when expanding into lesser known markets. It also underscores the need to understand the local infrastructure and legislation conditions, selecting reliable transportation partners and conducting thorough inspections.
