HOW DO YOU BALANCE THE NEED FOR INNOVATION WITH THE POTENTIAL RISKS AND UNCERTAINTIES IT BRINGS TO THE INDUSTRY? J-P.C. Innovation may come with certain risks for the industry – and this is certainly an important consideration to keep in mind – but innovation is also the answer to many existing, evolving, and new risks. Not innovating would come with a greater risk not only to the industry but also to societies that would lack the protection and resilience innovative solutions can offer. L et’s take AI: it is an area that comes with risks that are both operational and reputational, as it can fall prey to biases, make errors and hallucinate, or create liability risks due to involuntarily using protected Intellectual Property. At SCOR, we have dedicated teams working not only on ways to use AI in our business but also on how to use it responsibly. Having said that, risks being our business, AI might well become a market in and of itself in the future. Some even predict that Cyber (re)insurance, encompassing AI risks, could become larger than Property (re)insurance before the middle of the century. WHAT IS THE BIGGEST DIFFERENCE YOU SEE IN THE P&C (RE)INSURANCE INDUSTRY TODAY COMPARED TO TEN YEARS AGO? J-P.C. SCOR celebrates its 55th anniversary in 2025. Some reinsurers date back to the 19th century – so we’re certainly not a new industry and throughout the years, the industry has evolved and adapted to keep pace with a constantly changing environment. E ven compared to ten years ago, the world seems to be moving faster with more unpredictable events. Think of the global Covid-19 pandemic, the war in Ukraine, or the rise of AI. Most of these would have been difficult to imagine a few years ago, but for a reinsurer new risks mean new opportunities. I n the years ahead, SCOR will continue to focus on product and process innovation as this is absolutely key to remain a leader in today’s reinsurance landscape. The industry itself will also need to modernize to remain relevant to new generations and attract the next generation of actuaries, underwriters, and IT and AI experts. At SCOR, we are actively working to ensure that (re)insurance is seen as an attractive career – which I firmly believe it is. . 23% SCOR BUSINESS SOLUTIONS 15% APAC 44% EMEA 77% REINSURRANCE 41% AMERICAS Gross written premium split by geographic area Gross written premium split by line of business €9.9 billion gross written premiums P&C TRANSFORMING TOMORROW WITH OUR SOLUTIONS 63
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