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Insurance Faced to Expanding Risks

Philippe Trainar * Professeur titulaire de chaire assurance, CNAM (Centre national des arts et métiers) ; directeur, Fondation SCOR pour la Science ; membre, Conseil scientifique, ACPR (Autorité de contrôle prudentiel et de résolution). Contact : L'auteur remercie particulièrement Vivien Levy-Garboua et Patrick Thourot pour leur lecture attentive de la première version de l'article et pour leurs remarques critiques et leurs suggestions qui ont permis de bonifier ce travail dont l'auteur reste cependant seul responsable des imperfections et des erreurs.

The world is changing, the universe of risks is expanding, and the conditions for doing insurance business are becoming more complex. Insurance, which largely reflects the tensions and contradictions of its environment, must adapt to the changes and fluctuations that are taking place in this environment. Faced with an industry that has been changing while retaining strong traditional components, many experts have been announcing for nearly ten years the coming great disruption of insurance. But, this is slow to come and the few challenging initiatives did little to shake traditional players. However, the current strategic challenges force insurance to adapt and change fundamentally. This article aims to identify these strategic challenges, analyze the industry's capacity to meet them and assess the changes they will ultimately impose on insurers.

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