Scenario analysis is rapidly becoming the method of choice to evaluate multiple risks for many insurers, says a new sigma study by Swiss Re. But despite its prevalence, Swiss Re feels carriers could do more to fully exploit these state-of-the-art approaches.

Scenario analysis helps insurers make business decisions by considering a number of potential future developments, allowing them to manage a broad range of often-interrelated risks, according to the Zurich-based reinsurer. It is used most frequently in areas such as strategic planning, risk management and underwriting.

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