Here be dragons: Navigating uncertainty with risk measurement

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While most believe measuring risk is important, it does not seem to be the driving force when decisions are made. This conclusion was echoed when we asked what insurance purchasing process respondents would most like to see improved. The top two responses were: “use of data and related analysis to support purchasing decision framework” and “understanding of the company and persuasive use of data by external providers in developing a marketing approach.” Efforts at measuring risk appear to be falling short in the two key areas of decision making and persuasively communicating risks to markets.


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