Cyber-attacks, economic slowdown and business interruption have emerged as the three biggest risks confronting Indian companies, according to Aon’s latest Global Risk Management Survey, which highlights how fast-shifting, interconnected threats are testing corporate resilience.
Presenting the India findings of the 10th edition of the biennial survey at a virtual media briefing, Sushant Sarin, managing director and head of strategy and commercial risk solutions for India at Aon, said cyber risk ranks as the number one concern both for India and globally. He noted that the rapid evolution of attack methods, the widening digital “attack surface” and the increased use of artificial intelligence by threat actors are keeping boards on edge.
Economic slowdown and slow recovery are ranked second in India and third globally, reflecting the impact of geopolitical tensions, trade frictions and tariff changes on growth prospects. Business interruption stands third for India and second worldwide, underlining the cost of even short disruptions to operations and supply chains.
Risk, Resilience And Opportunity
For India, data privacy and compliance with the Digital Personal Data Protection Act, failure to attract and retain top talent, property damage and exchange rate fluctuations feature prominently among the top 10 risks, pointing to the pressures of a fast-growing but still maturing economy.
Globally, geopolitical volatility and climate change have a stronger presence in the top risk set, with climate expected to enter India’s top five by 2028.
Sarin underlined that, despite heightened awareness, only a small fraction of respondents globally quantifies their exposure to their top risks or use analytics to evaluate their insurance programmes. He argued that organisations which treat risk management as a strategic, data-driven function rather than an operational afterthought can convert resilience into competitive advantage, using risk transfer and modelling to turn emerging threats in cyber, climate and workforce into opportunities for growth and differentiation. |
