<p><strong>Speaker 0</strong>: <span>First of all, it's great to be at Ame. I really find it always very encouraging and really important to connect with our clients and brokers. We've been spending the past few days meeting with our clients and hearing some of the challenges they are facing. I will take the opportunity to highlight some of the major themes that I've been hearing at Ame but also more generally in the marketplace, maybe starting with inflation,</span></p> <p><strong>Speaker 0</strong>: <span>where, you know, inflation has a major impact on the insurance industry overall, but also on risk managers mainly around the ability to make sure that the risk of under insurance is not there but also or manage the risk of under insurance. But also there is really an issue with the cost of insurance, which is increasing mainly due to turnover and</span></p> <p><strong>Speaker 0</strong>: <span>most cases. You know, if you look at the casualty, for example, line of business where turnover of clients is increasing only primarily mainly due to inflation, their cost of insurance automatically goes up. So really, what we need to do as an insurance industry is consider other metrics to be able to support clients and making sure that you know the pricing is adequate based on the risk exposure that is there taking out the inflation impact.</span></p> <p><strong>Speaker 0</strong>: <span>The second main area that is really at the top of mind of the risk managers and leaders we will be talking to is around climate risks. Managing climate risk is a big, big challenge for risk leaders, mainly of things. One is around understanding their exposure from climate risk perspective, but also the ability to influence the</span></p> <p><strong>Speaker 0</strong>: <span>and educate colleagues internally and senior leaders around the risks of climate and the science behind you know, behind the climate risks. So there's really a big need to be able to support risk managers on their journey. If you look at the World Economic Forum latest report, which was published in January 2023</span></p> <p><strong>Speaker 0</strong>: <span>you could see that CEOs main concern or their confidence in their climate risk management strategy is very low. So really, there's a lot that could be done around the climate, and I do understand why it's very important for risk managers.</span></p> <p><strong>Speaker 0</strong>: <span>The third main bucket that is very critical and we've been hearing a lot about it around cyber risks. If you look at a future risk report for the past five years, cyber risk has been ranking in the top three risks on mind of risk leaders, but also on the general population mind, which is definitely selling you that is gaining a lot of traction.</span></p> <p><strong>Speaker 0</strong>: <span>You know, this is a major risk that is also expanding because of you know, the impact of the current geopolitical tension.</span></p> <p><strong>Speaker 0</strong>: <span>So, you know, really, you would understand why it's very important at this stage for risk managers to better understand their cyber risks and how best to manage it. From a placement perspective, we hear that the capacity in the excess market is generally available, but risk managers need more support on the primary side of things. So you know a number of challenges, as you would expect in the industry. But those are the kind of key things that have been here.</span></p> <p><strong>Speaker 0</strong>: <span>So the pandemic taught us a lot of things, including how best to operate in the flexible working environment. At a group. We have launched our smart working approach, which really enables colleagues to find the right balance between family and work life. Having said that, you know, we have since returned. We've seen the importance also and experienced the importance of face to face trading, especially</span></p> <p><strong>Speaker 0</strong>: <span>in our industries. And we have been to that and encouraging our colleagues to make sure that they are visible for our clients and always available for face to face trading when required. Like you know, air today at air tells you how important, really that face to face trading interaction is so really, it's about finding the right balance between both.</span></p> <p><strong>Speaker 0</strong>: <span>We have also focused a lot on our service levels and took a proper look at you know how we are perceived as a business and how we want to be perceived as a business. And to that end, we have launched an internal project around our value proposition and customer excellence, where we've run a series of workshops within our leaders, but also with our teams and some of our external customers and brokers to identify the key pillars of our</span></p> <p><strong>Speaker 0</strong>: <span>proposition and following that process, we identify the four key areas which are around customer excellence, our claims and risk consulting capability, leadership in our field and our role in society and our driving our agenda in the market place and to embed that proposition in the business. We've run a series of workshops and training,</span></p> <p><strong>Speaker 0</strong>: <span>virtual and in person, to more than 400 customer facing colleagues, mainly around how best we are able to service our customers. But also how best can we deliver that proposition to the market? We are on a journey. Of course, there's a lot more that we could do. But I'm very proud of what we have achieved so far, and this is really based on the feedback that I've been receiving from brokers and from clients at today.</span></p>