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INDUSTRY ICON
large as to what the risks are that we face in society generally, and to business specifically,” Martin says. Not surprisingly, extreme weather events were the most likely risk highlighted by the report. For insurers, many of whom are seeing increases in these events and therefore a surge in claims in the aftermath, the report presents a number of thought-provoking issues – some of which they can tackle by leading by example. Zurich has taken steps in the environmental space, for example, by choosing to not insure coal plants or invest in companies that
to deal with. Cyber is one of those accumulation risks. It’s a constantly evolving and emerging risk, and we see an unfortunate lack of awareness.”
Championing diversity One of Martin’s other passions is raising awareness around diversity, the lack of which continues to haunt the industry. “The insurance industry is probably no poster child for diversity, but Zurich I think is a good poster child,” she says. “We’re not perfect, but if you look at the changes that Mario has made over the last couple of years
“I take the role model part of the position very seriously. I think it’s very important that, if you have that ability to influence others coming through their career, you take that opportunity” derive more than 50% of their revenue from coal. And Martin is very firm on her position on climate change. “Particularly worrying for me is that [the number-two risk] now is the failure of climate change mitigation and adaption – i.e. the failure of policy to do anything about the risk – and extreme weather events is number one,” she says. “As an insurer, those two things are a little worrying.” The other major area insurers must keep an eye on, Martin says, is cyber risk. Although it seems very different than environmental risk at first glance, Martin believes the two are actually very similar in a lot of ways. “What makes cyber and environmental risk similar is the fact neither of them have boundaries, neither of them have borders,” she says. “And that makes them very tricky
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ZURICH’S FINDINGS FROM THE 2019 GLOBAL RISKS REPORT
alone, he has radically shifted the executive committee’s composition, so we have much better gender diversity.” These changes, she says, can help to shift the culture in an organization and send strong signals of support. Martin is also part of Zurich’s women’s innovation network, and she works hard to ensure she helps other women in the firm. “I take the role model part of the position very seriously,” she says. “I think it’s very important that, if you have that ability to influence others coming through their career, you take that opportunity. I think that sends a really strong signal to the whole organization, but more importantly to the industry at large, that you can be successful – and, in fact, you are more likely to be very successful – if you have diversity.”
5
of the top 10 global risks are environmental in nature
2
of the top 10 risks are related to cybersecurity
65%
of respondents said they expect further erosion of global policy coordination on climate change in 2019
85%
expect political confrontations between major powers to increase this year
82%
expect theft of data and money via cyber attacks to intensify in 2019 Source: World Economic Forum Global Risks Report 2019
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