Page 113 - Risk Management in current scenario

Final word
There is a global effort in providing more social security, peace of mind
and strong financial system to help the people, in general, to take benefits
of insurance products to meet uncertainties of life. The change in the
solvency regime expected to make the insurance sector stronger. This,
however, likely to bring some challenges to the insurance industry which
they need to gear up to handle the challenges. Risk management in this
new frontier will play a key role in the success of capital and profit
optimization; it would be good for the insurance players in India to
enhance the risk management skills as currently, there is a lot of gap in
demand and supply. However, beware of a black swan.

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