Following the analysis published in “Ukraine: A Conflict That Changed The World,” Lloyd’s, in collaboration with Aon, published The (Re)insurance Industry Response, which focuses on the actions the insurance industry can take to support clients in building resilience against a rapidly changing global economic and geopolitical risk landscape.

The report highlights existing insurance solutions as well as opportunities for innovation in areas of most concern for businesses, such as food and energy security as well as supply chain disruption.

“The tangible impacts of the Ukraine conflict are evident across the world and across industries. Although the insurance market has reacted quickly and effectively to support policyholders, the crisis has exposed gaps that show we must move further and faster. A focus on developing innovative products and solutions is essential to ensure our industry plays its critical role helping organisations navigate an increasingly volatile risk landscape and make better decisions,” said Dominic Christian, global chairman of Reinsurance Solutions at Aon.

Lloyd’s and Aon have agreed to establish an innovation forum that will provide an opportunity to support the commercialization of new solutions that address the emerging client needs identified in these two reports. This initiative will combine the unique convening power of Lloyd’s with Aon’s expertise and client insight in order to build on the key learnings and outcomes of both reports.

For more information, read the press release and view the report.