The RiskScan 2024 survey, conducted by Munich Re US in collaboration with the Insurance Information Institute (Triple-I), has identified the primary risk concerns among various stakeholders in the insurance industry. The survey included participants from five key market segments: property and casualty (P&C) insurance carriers, P&C agents and brokers, middle-market business decision-makers, small business owners, and consumers.

The findings highlight three major perceived risks: cyber incidents, climate change, and business interruption. Cyber threats are a top concern across all market segments. Climate change is increasingly worrying due to its impact on extreme weather events. Business interruption remains a significant issue due to lingering effects of the pandemic, natural disasters, and supply chain disruptions.

Kerri Hamm of Munich Re US stated that understanding customer risk concerns is crucial for designing products that address these issues effectively. Sean Kevelighan of Triple-I emphasized the importance of educating consumers and businesses about insurance risks to ensure adequate coverage.

Artificial intelligence emerged as the leading emerging technology concern across all surveyed groups. The study also revealed a gap in knowledge about certain risks like flood and cyber threats among businesses and consumers.

The RiskScan 2024 survey was conducted online by RTi during summer 2024 with 1,300 participants from diverse demographic backgrounds within the United States. This research aimed to understand their concerns related to insurance risks, natural disasters, emerging technologies, P&C insurance costs, and market dynamics.