Lloyd’s is today launching a new global platform and online community dedicated to driving greater societal and economic resilience to the world’s most challenging risks.

Futureset has been developed in response to the large and complex challenges and repercussions of the COVID-19 pandemic. It is hoped the platform will help tackle these challenges through a more joined-up dialogue between customers, insurers and government.

Established as an openly accessible platform, the new portal will convene global experts and partner with world class research organisations, in the hope of creating “new and pioneering insights to drive sustainable solutions to current and future threats around the world”.

Throughout 2021, Futureset will focus on the issue of systemic risks, such as pandemics and
climate change. It launches today with a six-part Systemic Risk Masterclass series, developed in partnership with the Chartered Insurance Institute and Lloyd’s Market Association.

Lloyd’s says the COVID-19 pandemic has highlighted gaps in the knowledge, understanding, and mitigation of “systemic and black swan risks with potential impacts that are materialising and evolving at a rapid pace”. The masterclass series sees to address these issues with the support of experts across industry, academia and government to help insurance and risk professionals develop their knowledge and expertise in systemic risk.

The first Masterclass takes place this week, with John Neal, CEO of Lloyd's, leading an interactive panel discussion focused on how governments and the insurance industry can partner more effectively to protect society and the economy against systemic risks. Panellists include John Doyle, president and CEO of Marsh, Paula Jarzabkowski, professor of strategic management at the University of London's Business School, and RIMS vice-president, Patrick Sterling.

John Neal, CEO of Lloyd's, said: “The COVID-19 pandemic has shown that a hypothetical systemic risk, is never far from becoming a reality and that we must do everything we can to prepare and mitigate against the worst impacts of the constantly changing and challenging risk landscape. As the world turns to recovery, Lloyd’s has a unique position and opportunity to bring together communities, businesses, insurers and governments to find solutions to those risks that threaten our shared future. The launch of Futureset sets in concrete our commitment to be a catalyst for action, and in doing so empowering innovation, economic growth and human progress around the world.”

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