Seize the opportunity to drive impact
Siloed teams put businesses at risk. Organizations with integrated risk management and benefits best practices are better equipped to achieve sustained profitability, workforce vitality and resiliency.
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Today’s leaders face a business landscape that is more complex with risks that are highly interconnected. Alignment across the entire organization is key to preparing for and responding to economic, political, social and environmental challenges. A siloed approach to risk management leaves businesses vulnerable.
The speed of change is dizzying, but those who embrace new approaches and solutions will improve their profitability, workplace vitality and resilience.
The HUB 2025 Outlook Executive Survey reports overall positive sentiment, but against this backdrop business leaders face major challenges to their profitability, employee productivity and company resilience, reflecting the inherent challenge of managing a constantly shifting risk environment.
While the majority state that they are well prepared to address the impact of increased expenditures and economic uncertainty on their profits, they face greater uncertainty in preparing for climate change/natural disasters, cyber risks including deepfakes, increasing use of AI and geopolitical risk.
We invite you to lean into this year’s report and learn what your peers are thinking and doing to prepare for the year ahead.
Lean In. Seek Opportunity. Win Big.
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Companies have an opportunity to use insurance as a strategic tool to protect against new and familiar risks that threaten company profits.
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Only 40%
of survey respondents report that they have some form of cyber coverage.
Companies have an opportunity to use insurance as a strategic tool to protect against new and familiar risks that threaten company profits.
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While respondents report a high level of preparedness to manage the impact of increased expenditures and business disruption on profitability, they concede that they are less prepared to handle climate change and cyber risks.
Canadian respondents expressed greater confidence in their preparedness to tackle key risks to profitability compared to their U.S. counterparts but lag in readiness to respond to climate change, AI adoption and regulatory changes.
Risk exposures are increasing in complexity, frequency and severity. When it comes to insurance, don’t just set it and forget it. Insurance programs should be reviewed at least annually with an insurance broker and replacement costs and policy limits updated.
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The cost and availability of insurance is under pressure across many industries and geographies. Organizations need to explore other coverage options to protect their bottom line, company reputation and people. These alternative solutions may include captives and parametric insurance. According to the HUB survey, economic challenges and inflation have significantly affected 29% and moderately affected 52% of companies' ability to secure ample insurance coverage.
Alternative approaches to traditional insurance might be a viable option. Based on historical losses, you may be able to save money by combining property and casualty coverage on an excess policy. Or you may secure a multi-year insurance program where a percentage of premiums are returned if losses are better than anticipated. Another option is insurance programs that require a letter of credit.
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73%
of companies report being underinsured against profit-threatening risks, a slight improvement from 76% in 2023.
The cost and availability of insurance is under pressure, now is the time to explore alternative risk transfer solutions.
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Business leaders have gone from a “toe in the water” to a massive acceleration in the use of data and analytics to manage insurance costs, enhance employee benefits and “see around the corner.” Leading edge organizations who use data and analytics possess greater insight into risk exposures, increase employee engagement and achieve greater alignment when it comes to decision-making.
Today’s HR leaders are building human-centric workplaces. They recognize that appropriate
compensation is a baseline requirement for retaining talent, but it’s not enough to build a high-performing workplace. Human-centric environments are built on multiple pillars, such as wellbeing, flexibility, social connection, continuous learning, recognition and effective communication, among others. Together, they foster a culture of trust, collaboration and innovation and lead to higher levels of employee engagement.
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identify employee productivity as a key focus for 2025, with most planning to align total rewards, specifically compensation, with productivity metrics.
Leveraging data and analytics can help boost workplace vitality and address total cost of risk.
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Be Prepared
Download our 2025 North American Outlook to see what to expect in the coming year.
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HUB 2025 Outlook Executive Summary
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The cost and availability of insurance is under pressure, now is the time to explore alternative risk transfer solutions.
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Leveraging data and analytics can help boost workplace vitality and address total cost of risk.
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Risk management strategies are a must to build better resilience and turn business disruption into opportunities for growth.
Organizations that integrate risk management into their corporate culture and overall business strategy are better equipped to navigate turbulence than their competitors. More importantly, such organizations gain the power to turn business disruption into opportunities for growth.
Given today’s environment, all companies need to be ready for the next business disruption, be it political, social or weather-related. Many firms underestimate the extent to which geopolitical instability can have
devastating impacts on their supply chain, for example, only 21% of respondents indicated geo-political risks as likely to affect their company's profitability in 2025.
Additionally, planning for severe weather is crucial to building organizational resilience. Companies that can recover quickly from a catastrophic weather event are better positioned to enhance their brand reputation, support employees and differentiate themselves from competitors in their community.
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62%
of respondents indicated that their companies have adopted a formal enterprise-wide risk management (ERM) assessment process.
Risk management strategies are a must to build better resilience and turn business disruption into opportunities for growth.
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We surveyed 900 business leaders across the U.S. and Canada, representing 11 different industries. The respondents are leaders and decision-makers in corporate leadership, risk management and human resources at both public and private companies and nonprofit organizations.
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66% of U.S. and 75% Canadian firms
