The perfect remedy for the risks posed by digitalisation

Antonio Grasso
6 min readOct 25, 2022

Article in partnership with Swiss Re, co-author Pravina Ladva Swiss Re Group Chief Digital & Technology Officer.

As digitalisation changes risks, solutions must keep pace to address emerging threats that could become systemic. In this third co-authored article, Pravina Ladva and Antonio Grasso discuss how digital solutions can mitigate digitalization’s economic and social risks.

People have always been aware that breakthrough innovations bring great benefits but can also come with new challenges. That’s also the case with digitalisation. However, because of the pace of digitalisation, we need to be faster than ever to remedy the vulnerabilities that accompany digitalisation via our own expanding digital capabilities.

Pravina Ladva’s view

The risk landscape is changing rapidly and expanding into the virtual space, accelerating the need for new types of insurance products that protect valuable digital assets. One programme that has emerged from a partnership between cyber insurer Cowbell and Swiss Re offers protection for enterprises that build their footprint in the Amazon Web Services (AWS) Cloud. In addition to robust cyber insurance protection, this programme provides continuous guidance to policyholders, helping them deploy cyber security best practices in a cloud environment.

As a growing share of the digital economy now relies on the cloud, cyber resilience is becoming increasingly important. Interconnectedness, driven by the forces of globalisation and digitisation, is creating new risk factors. Risk models and insurance solutions need to be adapted to this new reality.

The chain is only as strong as its weakest link

Nowhere is this truer than for services that are digitised and which form part of ecosystems. Digitialisation and the billions of networked devices that make digitalisation possible are fuelling unprecedented efficiency gains. However, they’re also creating interdependencies and unexpected risks. The increasing frequency of shocks such as those stemming from cyberattacks also poses an even greater challenge to traditional risk models.

It’s clear to me that re/insurers must respond to these challenges and changing…

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Antonio Grasso

Author, technologist, sustainability advocate | FRSA | B2B digital creator & influencer | Founder & CEO @dbi.srl