Page 75 - revue RDV 2024 (15_04)

A R T I C L E S 75

What insurance in a world

of uncertainties?

When hearing the word uncertainty, the first thing that comes to one’s a doubtful future resulting from emerging risks that could hit suddenly
mind is the feeling of anxiety, as the two words correlate to each other. like for example Covid-19, or from changing risks that its nature being Mr. Alaa
Being in such a case is something that is very irritang to any person; to changed due to unforeseen circumstances like for example climate risks EL ZOHEIRY
feel that you are insecure and worry about the future of your family, and which their nature is being altered in certain areas in the world and cause
Managing Director
of your work. Thus, to overcome this uncomfortable feeling, the person changes in the type of risks themselves.
GIG Egypt
has to search for a tool that helps in restoring peace of mind and reaching Insurance can play a pivotal role in addressing these risks on the levels Chairman, Insurance
a state of certainty instead of uncertainty, and that tool is insurance. of both macro and microeconomics, through many pillars; some of which Federation of Egypt
Insurance can provide support and protection against mutating are:
challenges. 1. Designing advanced business models that increase efficiency, reduce
Some of which are include assessing and pricing the risks associated with costs and creating new products and services tailored to the changing
these uncertainties in an accurate way, developing new and innovative expectations and circumstances of customers.
insurance products that can adequately address these emerging risks, 2. Adopting new innovative technology for conducting work sufficiently,
and ensuring that insurance coverage is accessible to those who need predicting risks, mitigating their impacts, and minimizing losses by building
it the most. Thus, many stakeholders related to the insurance industry ecosystems, using Internet of Things (IoT), AI solutions, big data and
like insurance companies and brokers have already started to recognize mobile applications. These innovative methods help in providing more
the need to address the risks associated with global uncertainties and value to customers and build businesses that are resistant to disruption,