Last week we attended the agers congress 2025, the leading risk management event in Spain, organized by the Spanish association of risk and insurance managers (agers). With more than 500 professionals in attendance, the event was an opportunity to listen, share, and discuss the major challenges we face in corporate risk management and business insurance.
Risk management as a strategic function
One of the central themes of the congress was the growing role of risk management within business strategy. It is no longer just about identifying threats or transferring risks to the insurance market. It is about aligning this function with business objectives, decision-making, and organizational resilience.
At O.Brokers, we feel especially aligned with this vision. We support companies with complex structures, international operations, and very specific insurance needs. That is why we work with a holistic approach that brings together risk, business, and people.
Artificial intelligence, sustainability, and new scenarios
The congress agenda addressed topics that are already on the table for many of our clients:
- How can artificial intelligence be applied to risk assessment and modeling?
- How can ESG criteria be incorporated into risk management?
- What new exposures are emerging in industrial, technological, or logistics sectors?
- Are we prepared to manage reputational risk in a hyperconnected environment?
Each panel and each presentation made it clear that risk management must evolve at the same pace as the business environment.
A soft market, but not without risks
One of the topics that generated the most interest during the congress was the current state of the insurance market: a soft market cycle, especially in lines such as property or cyber, which opens up new opportunities for companies to review and optimize their insurance programs.
But why are we in a soft market if risks such as climate and cyber risk not only persist, but are becoming more severe?
There are several reasons, including:
- Improved insurer balance sheets after years of prudence and underwriting adjustments.
- A clear reduction in combined ratios, from 108% to around 90%, reflecting greater technical efficiency.
- The attraction of new capital to the sector, driven by a more profitable environment.
- Increased competition, putting downward pressure on premiums.
- A macroeconomic context with higher interest rates than in the 2020–2021 period, when rates even became negative, supporting insurers’ financial income.
At the same time, the insurance market is evolving with shorter, faster, and more intense cycles. This requires companies to stay especially alert. What is an opportunity today may become a restriction tomorrow.
For example, the cyber line is currently in a soft phase, but experts agree that a single high-impact loss, such as a global outage at Microsoft or Amazon, would be enough to trigger immediate market hardening. In addition, the growing use of artificial intelligence is creating new layers of exposure that we are still learning how to model.
As for climate risk, the trend is undeniable. In 2024, material losses linked to extreme weather events were 30% higher than the previous year.
In short, in a more uncertain, changing, and exposed global environment, insurance is once again positioning itself as a key tool for business stability and continuity, and as a source of value for the insurance sector.
Community, vision, and connection
Beyond the technical content, the agers congress was also a space to listen to large companies, insurers, and industry experts. The open and ongoing dialogue among all players in the ecosystem reinforces the importance of working as a network, sharing knowledge, and building stronger and more sustainable solutions for clients.
At O.Brokers, we continue to focus on strategic advisory
Our participation at agers 2025 reinforces our conviction that the role of the professional broker goes far beyond policy placement. It adds value in the identification, measurement, transfer, and ongoing management of risk, as an active part of each company’s corporate health.
We thank agers for the excellent organization and for maintaining a modern and strategic vision of risk management.
We return with ideas, connections, and above all, the drive to continue delivering value to our clients in an increasingly demanding environment.
