Emerging Liability Risks: Harnessing big data analytics

This report also helps insurers tackle the four key challenges associated with understanding emerging liability risks:

• Identification: recognising an emerging risk before it manifests as a loss or claim
• Contextualisation: comparing the size of risks, both relative to other emerging risks and to previous risks
• Projection: converting an emerging risk from the context in which it is identified, such as scientific literature, into an exposure-relevant context, such as companies and portfolios
• Quantification: estimating the expected loss from an emerging risk

The report is part of Lloyd’s on-going research into different ways of reducing uncertainty in this area.