Why risk management tools?
Shorter product cycles and development times, ongoing globalisation, social change and new legislation are characteristics of our age that, taken together, are generating ever more complex risks. This is a trend that is also having a direct effect on insurance and reinsurance underwriting. In order to evaluate and assess risks properly, the underwriter must take an increasing number of parameters into account. This is why the support provided by risk management is becoming more important all the time. Particularly in the emerging markets of Central and Eastern Europe or in China recent developments have been rapid and permeated all areas of society. Over the last 10 years there have been dynamic changes in the insurance landscape of Central and Eastern Europe. The abolition of state monopolies and the introduction of new legislation have paved the way for increasing privatisation of the markets. This has heightened the need to amass the knowledge required to assess complex risks. Envir
