ICMIF Supporting Member Microsoft provides an insight into how mutual insurers can use AI to tackle risk and boost financial resilience.

For generations, the value proposition in insurance has been defined by risk transfer: when losses occur, insurers help policyholders recover financially. That role remains essential. But major long-term shifts across the global insurance landscape are now forcing a reimagining of customer value, profitability and growth.

Property and casualty (P&C) insurers face growing challenges, including macro-economic factors and cyber-attacks, but none is bigger than climate risk. Catastrophic events are nothing new, of course; what has changed is the scale and frequency of weather-related losses and the operational strain that follows.

Swiss Re estimates global insured losses from weather‑related natural catastrophes will exceed USD135 billion in 2024, marking the fifth consecutive year insured losses topped USD100 billion, and underscoring a…