In a complex world in which interconnected risks develop almost on a daily basis and the rise of the claim culture after the American example, insurance is a discipline which requires the utmost expertise. This expertise is reflected amongst other things in fully considering those matters that are intangible today, to be a step ahead of reality and attune operational management accordingly. After all, the whole principle of insurance is based on the fact that you do it before something has happened.
Scenario planning helps in this process; combining trends and uncertainties to a set of relevant, plausible and surprising scenarios of the future, produces an instrument with which you can identify opportunities and threats for which you can already prepare now.
De Ruijter Strategy has facilitated scenario and strategy projects for the Dutch Association of Insurers as well as for big private insurers like Achmea, Interpolis and Reaal. In addition Paul de Ruijter is executive lecturer scenario planning at Nyenrode Business University for several programs, including the PE-program for the development of expertise in which the Association of Insurers and many insurance professionals take part. From 2016 onwards insurers in Europe will be obligated to test their solvability by means of the ‘Own Risk and Solvency Assessment’ (ORSA). Now scenario thinking for insurers is no longer a nice-to-have, but a must-have to go successfully on their way to the future.
On this topic we work closely together with Dr. René Doff, an expert and thought leader on risk management in the financial sector.
