A risk-focused mindset ensures better informed, resilient decisions. This mindset leads to a Risk Management Decision-Making process that we describe in this podcast and explain how it differs from other decision-making approaches such as heuristics, satisficing, and cost-benefit analysis. We feature the five essential components—risk awareness, diversification, risk appetite and tolerance, risk-reward management, and competitive advantage—and discuss how these elements transform decision making.

Once more, we dive into a critical discussion on regime change, the scenarios that could drive it, and for the first time talk about what might follow. This episode of Crossing Thin Ice features insights from experts Max Rudolph, David Ingram, Raghu Ramachandran, and Jim Evans. Our conversation covers key drivers like climate change, debt levels, demographics, and technology, and explores tipping points that could dramatically reshape the risk landscape. Join us as we analyze potential scenarios and the vital role that risk management plays in navigating these transformations for insurers and beyond​. Now available – documentation of how the scenarios are developed, summaries of the seven scenarios presented on the podcast and a look at our full set of 81 scenarios. https://riskviews3.wordpress.com/before-and-after-regime-change/

AI is being used to improve investment decision-making and risk management. Dave and Max discuss how these models can be retrained with specialized knowledge to enhance long-term strategies while addressing key risks like data bias and overfitting with guest Kailan Shang. Join us as we explore the growing role of AI in shaping the future of investment management. Shang has written a research paper https://tinyurl.com/25v27q4p that emphasizes the importance of balancing AI's analytical power with human judgment and ethical considerations. Listeners will discover how AI is shaping the future of investing and the key risks from AI.