To complement traditional risk management methods that consist in quantifying the future frequency and severity of known risks, AXA has set up a new study to anticipate new risks. The objective is to insure our long-term commitments towards our clients and strengthen in-house preparedness for risks that might emerge in the years ahead.
In 2014, AXA asked around 200 internal experts to determine which emerging risks would have the highest impact on the society at large in the next five to ten years. Based on their knowledge of a specific region and on their expertise in Risk Management, Underwriting & Claims, Marketing & Distribution, Legal, Finance and IT, they helped achieving two goals:
- Prioritize AXA's efforts in anticipating and preparing for emerging risks
- Share knowledge externally on the top ten emerging risks according to AXA's experts
Discover the results of the first edition of this study:
29% of AXA's experts estimated that these are the most significant risks, followed by social & political ones (24%), environmental ones (19%), technological (14%), medical (10%) and others (4%).
Five experts of the AXA Group comment on the risk categories identified in the study, and explain AXA's role in view of new trends and opportunities:
- On Economic & Financial risks, Eric Chaney, Head of AXA IM Research and AXA Group Chief Economist
- On Social & Political risks, Christian Thimann, AXA Group Head of Strategy & Public Affairs
- On Environmental risks, David Cadoux, AXA Group P&C Chief Risk Officer
- On Technological & IT risks, Vincent Lambert, Chief Operating Officer of AXA Global P&C
- On Medical risks, Jean-Christophe Ménioux, Chief Executive Officer of AXA Global Life