ABSTRACT
Insurance plays an important risk-pooling role in society. By shifting large unknown costs for individual entities to smaller, regular, lower, and known costs in the form of insurance premiums, the insurance sector enables society to function in the face of significant risk exposures and, potentially, material financial losses. The emerging harmscape, shaped by global risks such as climate change, impact the insurance sector's risk pooling capabilities. Accessible and affordable insurance solutions are a key ingredient to a sustainable future. This will require collaborative efforts in society and governing bodies, along with the insurance sector, on a scale not seen up to now. This chapter takes a practitioner's perspective on contemporary insurance practices and offers further suggestions for collaboration in the form of opening insurance organisations' strategy processes.
