Cyber threats, pricing pressures and the evolving nature of risk

As risk professionals descended on Airmic 2025, one industry leader called out two critical challenges facing the sector: the sustainability of pricing in property and casualty (P&C) and the growing urgency of tackling cyber risk.

“The biggest conversations focussed on the long-term sustainability of pricing in P&C, and how risk managers can deliver greater strategic value to their organisations,” said Tom Draper, UK managing director at Coalition, talking to AIRMIC Today.

It’s a timely focus. With continued hardening in P&C lines and increasing pressure on risk professionals to justify their spend, Draper noted that the value discussion was front and centre for clients: “One top concern right now is demonstrating value amid a rapidly evolving pricing landscape in the P&C market,” he explained. “For brokers and risk managers alike, the challenge lies in clearly showcasing the long-term benefits of their work to stakeholders.”

This year, however, there’s another, perhaps louder, topic competed for attention: the explosion in cyber-crime – particularly ransomware.

“Cyber risk can feel complicated, but it’s not inherently complex”

“In light of the sustained surge in ransomware attacks over the past two months – especially in certain high-profile industries – there’s been increased attention on how companies can effectively manage this growing cyber threat,” Draper stated.

With high-profile breaches in the public domain, the insurance market is being pushed to evolve quickly and Draper sees this as a moment for brokers and risk leaders to step up.

“As major ransomware groups continue to make headlines, discussions are naturally shifting toward how organisations can analyse and transfer their cyber risk to the insurance market,” he said. “This evolving landscape is prompting brokers and risk managers to explore innovative ways to safeguard their clients and demonstrate value in an increasingly complex environment.”

So how is Coalition responding to these pressing demands?

“At the heart of our approach is leveraging technology and data to empower clients to make smarter, more informed decisions – especially with a long-term perspective,” Draper explained. This proactive model includes hands-on support during a crisis.

“Beyond just guiding the best strategies, we back them up with dedicated teams: our instant response and claims experts support clients through the toughest moments of a cyber event, while our business development team works closely with brokers and clients to deepen their understanding of risk and exposure.”

This commitment to enabling smarter decision-making is about more than just software or policy wording – it’s about human connections and clarity in communication.

“Cyber risk can feel complicated, but it’s not inherently complex,” Draper noted. “The real challenge – and opportunity – lies in how we communicate it.”

That’s where industry conferences such as Airmic 2025 play a vital role.

“Our goal is to bridge the gaps between technology, security, insurance and finance – three fields that each speak very different languages,” Draper said. “By fostering better conversations, we enable stronger collaboration and smarter decision-making across the board.”

As the industry seeks to translate fast-moving threats into sustainable risk strategies, Draper’s message is clear: real value lies in transparency, resilience and collaboration.

Risk managers at this year’s Airmic experienced shortage of thought-provoking discussions – but few as urgent or as interconnected as those Draper highlighted. Whether it’s navigating ransomware threats or redefining the value proposition in P&C, one thing’s certain: the role of the risk professional has never been more strategic.

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