Generational change, increasing cyber threats and stricter regulatory requirements are forcing insurers, brokers and pension funds to be strategically clear. Those who fail to secure critical knowledge, systematically manage risks and consistently strengthen governance are jeopardizing their future viability. Organizational resilience is therefore becoming a key management task.
Demographic change is having a substantial impact on the insurance industry. With the gradual retirement of the baby boomer generation, there is a risk of a considerable loss of tacit knowledge, accumulated market expertise and long-standing customer relationships. AXA is countering this risk with the “AXA Horizon” program. Retired specialists remain involved in projects as mentors, coaches or in clearly defined mandates.
Strategically, this is more than just an HR measure. It is structured knowledge management with a cultural signal effect. Experience is not being dismissed, but anchored institutionally. This approach is becoming increasingly important in the Swiss market in particular, where qualified specialists are in short supply. For insurers, brokers and health insurance companies, this raises the question of how know-how can be systematically safeguarded before it is lost in a generational change.
Cyber risks as a strategic management task
At the same time, the cyber reality is intensifying. A study conducted by Marsh’s Cyber Risk Intelligence Center in cooperation with the University of St. Gallen has investigated whether taking out cyber insurance increases the likelihood of a ransomware attack. The result is clear: there is no empirical evidence that cyber insurance favors attacks.
At the same time, the latest federal report on cyber security shows that critical infrastructures in Switzerland reported 222 cyberattacks last year. Since 2025, there has also been a legal obligation to report cyber incidents. This increases transparency and responsiveness, but also the expectations in terms of governance and compliance. IT service providers, public authorities and the banking and insurance sectors are particularly affected. Cyber risks are therefore no longer an isolated IT issue, but part of overall corporate responsibility.
Brokers between regulation and securing the next generation
A structural area of tension is also evident in the broker environment. The obligation to undergo further training sometimes causes resentment among experienced market participants, as standardized requirements are perceived as lacking differentiation. Concerns about formal hurdles or de facto exclusion from the market are adding to the pressure.
At the same time, new training models are emerging. An internship model at the School of Business and Information Technology in Winterthur enables commercial apprentices to complete a one-year internship instead of the traditional three-year apprenticeship after specific preparation. This reduces administrative burdens for companies and opens up more flexible recruitment channels. The industry is thus seeking a new balance between quality assurance, regulatory compliance and entrepreneurial capacity.
Governance under pressure: lessons from Germany
The case of the Berlin dentists’ pension fund shows just how serious inadequate risk management can be. Following losses of over one billion euros as a result of risky investment decisions, the system got into massive difficulties. The event triggered a fundamental discussion about the appropriateness of existing supervisory structures.
Regardless of the specific regulatory structure, the case illustrates how crucial robust governance structures, effective control mechanisms and sustainable investment strategies are for the stability of pension systems. Transparent decision-making processes and consistent risk control are not formalities, but a prerequisite for trust.
Resilience as a strategic guideline
The topics in this issue of the “LBC Insurance Radar” are closely interlinked. Securing knowledge in generational change, cyber resilience, regulatory balance in the broker environment and solid governance in pension systems follow the same logic: organizations must align their structures to ensure stability while remaining adaptive.
Those who consistently combine knowledge management, risk management and governance create the basis for competitiveness and long-term success in the field of tension between stability and disruption that is increasingly shaping the insurance industry.
Binci Heeb
Read and listen to: LBC Insurance Radar 9: AI becomes a management task
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