For an industry built around managing uncertainty, insurance is facing one of the most complex periods of change in its history. Julian Boffa, Chief Business Officer at EUCARE Insurance, highlighted the transformative impact of the Solvency II Directive on risk management practices within the insurance industry. “Solvency II was certainly the main element which has formalised and embedded Risk Management within the way insurance companies operate,” he said. Since its introduction, risk management has become a mandatory and central function within insurance companies, elevating risk reporting to board-level discussions. Today’s interconnected risks increasingly require insurers to combine traditional risk management practices with technology, data-driven insights and forward-looking analysis.