- 10th Allianz survey: Business interruption, Pandemic outbreak and Cyber incidents are the top three global business risks for 2021 — all strongly interlinked.
- Globally, Pandemic outbreak rockets to #2 from #17 and is seen as main cause of business interruption in 2021, followed by Cyber incidents. Companies look to de-risk supply chains and boost business continuity management for extreme events.
- In Asia Pacific, the top three risks are mirrored although Business interruption swaps places with Cyber incidents, which ranks #1 for the second consecutive year.
- Market developments (#4), Macroeconomic developments (#8) and Political violence (#10) are all rising global risks. Socioeconomic consequences of the pandemic will bring more insolvencies and likely fuel further civil unrest in 2021. Climate change falls to #9 globally but will be back on the board agenda as a priority in 2021.
JOHANNESBURG/LONDON/MUNICH/NEW YORK/PARIS/SAO PAULO/SINGAPORE – Media OutReach – 19 January 2021 – A trio of Covid-19 related risks heads up the 10thAllianz Risk Barometer 2021, reflecting potential disruption and loss scenarios companies are facing in the wake of the coronavirus pandemic. Business interruption (#1 with 41% responses) and Pandemic outbreak (#2 with 40%) are this year’s top global business risks with Cyber incidents (#3 with 40%) ranking a close third. The annual survey on global business risks from Allianz Global Corporate & Specialty (AGCS) incorporates the views of 2,769 experts in 92 countries and territories, including CEOs, risk managers, brokers and insurance experts.
“The Allianz Risk Barometer 2021 is clearly dominated by the Covid-19 trio of risks. Business interruption, pandemic and cyber are strongly interlinked, demonstrating the growing vulnerabilities of our highly globalized and connected world,” says Joachim Müller, CEO of AGCS. “The coronavirus pandemic is a reminder that risk management and business continuity management need to further evolve in order to help businesses prepare for, and survive, extreme events. While the pandemic continues to have a firm grip on countries around the world, we also have to ready ourselves for more frequent extreme scenarios, such as a global-scale cloud outage or cyber-attack, natural disasters driven by climate change or even another disease outbreak.”
The Covid-19 crisis continues to represent an immediate threat to both individual safety and businesses, reflecting why pandemic outbreak has rocketed 15 positions up to #2 in the global rankings at the expense of other risks. Prior to 2021, it had never finished higher than #16 in 10 years of the Allianz Risk Barometer, a clearly underestimated risk. However, in 2021, it’s the number one risk in 16 countries and among the three biggest risks across all continents and in 35 out of the 38 countries which qualify for a top 10 risks analysis. Japan, South Korea and Ghana are the only exceptions.
Market developments (#4 with 19%) also climbs up the global rankings of the Allianz Risk Barometer 2021, reflecting the risk of rising insolvency rates following the pandemic. According to Euler Hermes, the bulk of insolvencies will come in 2021. The trade credit insurer’s global insolvency index is expected to hit a record high for bankruptcies, up 35% by the end of 2021, with top increases expected in the US, Brazil, China and core European countries. Further, Covid-19 will likely spark a period of innovation and market disruption, accelerating the adoption of technology, hastening the demise of incumbents and traditional sectors and giving rise to new competitors. Other risers include Macroeconomic developments (#8 with 13%) and Political risks and violence (#10 with 11%) which are, in large part, a consequence of the coronavirus outbreak, too. Fallers in this year’s global rankings include Changes in legislation and regulation (#5 with 19%), Natural catastrophes (#6 with 17%), Fire/explosion (#7 with 16%), and Climate change (#9 with 13%), all clearly superseded by pandemic concerns.
Top Asia Pacific Risks
Similar to the global results, Cyber incidents (#1 with 41% responses), Pandemic outbreak (#2 with 39%) and Business interruption (#3 with 38%) skyrocketed to the top three business risks in Asia Pacific followed by Natural catastrophes (#4 with 27% ) rounding out the key issues in the region.
As expected, Changes in legislation and regulation (#5 with 22%) also kept its place amongst the top five Asia Pacific risks in 2021 for the third consecutive year. This was largely due to the several elections and change in leaderships that took place across the region in Singapore, Taiwan, Indonesia, South Korea and Malaysia, as well as the broader implications on supply chains as a result of China’s trade wars and greater uncertainty brought on by governments introducing tough lock down measures.
Commenting on the Asia Pacific results Mark Mitchell, AGCS APAC Managing Director, said: “Companies and even entire sectors, have suffered large business interruption events as a result of the pandemic of 2020 and it’s the largest catastrophic event to hit a modern, globalised and interconnected economy. The Pandemic has demonstrated just how vulnerable the world and businesses have become to unpredictable multi-country events and this has forever changed the risk landscape for clients and society more generally.
The COVID-19 pandemic has not only changed our society, but has also fundamentally changed the way businesses operate, especially the acceleration towards greater digitalisation driven by more companies working remotely. Our hope is that businesses and clients can learn from their experiences in 2020 and make sure they have in place measures which will reduce the impact of similar events in the future.”
Pandemic drives disruption — now and in future
Prior to the Covid-19 outbreak, Business interruption (BI) had already finished at the top of the global rankings of the Allianz Risk Barometer seven times and it returns to the top spot after being replaced by cyber incidents in 2020. The pandemic shows that extreme global-scale BI events are not just theoretical, but a real possibility, causing loss of revenues and disruption to production, operations and supply chains. 59% of respondents highlight the pandemic as the main cause of BI in 2021, followed by Cyber incidents (46%) and Natural catastrophes and Fire and explosion (around 30% each).
The pandemic is adding to the growing list of non-physical damage BI scenarios such as cyber or power blackouts. “The consequences of the pandemic — wider digitalization, more remote working and the growing reliance on technology of businesses and societies — will likely heighten BI risks in coming years,” explains Philip Beblo, expert in AGCS’s global Property underwriting team. “However, traditional physical risks will not disappear and must remain on the risk management agenda. Natural catastrophes, extreme weather or fire remain the main causes of BI for many industries and we continue to see a trend for larger losses over time.”
In response to heightened BI vulnerabilities, many companies are aiming to build more resilient operations and to de-risk their supply chains. According to Allianz Risk Barometer respondents, improving business continuity management is the main action companies are taking (62%), followed by developing alternative or multiple suppliers (45%), investing in digital supply chains (32%) and improved supplier selection and auditing (31%). According to AGCS experts, many companies found their plans where quickly overwhelmed by the pace of the pandemic. Business continuity planning needs to become more holistic, cross-functional, and dynamic, monitor and measure emerging or extreme loss scenarios, be constantly updated and tested and embedded into an organization’s strategy.
Cyber perils intensify
Cyber incidents may have slipped to #3 globally, in Asia Pacific it ranks #1 for the second consecutive year. Elsewhere in the world, it still ranks as a top three risk in many countries, including Brazil, France, Germany, India, Italy, Japan, South Africa, Spain, UK and the US. The acceleration towards greater digitalization and remote working driven by the pandemic is also further intensifying IT vulnerabilities. At the peak of the first wave of lockdowns in April 2020, the FBI reported a 300% increase in incidents alone, while cyber crime is now estimated to cost the global economy over $1trn, up 50% from two years ago. Already high in frequency, ransomware incidents are becoming more damaging, increasingly targeting large companies with sophisticated attacks and hefty extortion demands, as highlighted in the recent AGCS cyber risk trends report.
“Covid-19 has shown how quickly cybercriminals are able to adapt and the digitalization surge driven by the pandemic has created opportunities for intrusions with new cyber loss scenarios constantly emerging,” says Catharina Richter, Global Head of the Allianz Cyber Center of Competence at AGCS. “Attackers are innovating using automated scanning to identify security gaps, attacking poorly secured routers or even using ‘deepfakes’ — realistic media content modified or falsified by artificial intelligence. At the same time, data protection and privacy regulation and fines for data breaches continue their upward trend.”
Risers and fallers
Macroeconomic developments is up to #8 globally and Political risks and violence (#10) returns to the global top 10 for the first time since 2018, reflecting the fact that civil unrest, protests and riots now challenge terrorism as the main exposure for companies. The number, scale and duration of many recent events, including Black Lives Matter protests, anti-lockdown demonstrations, Hong Kong riots and unrest around the US presidential election, have been exceptional. As the socioeconomic fallout from Covid-19 mounts, further political and social unrest is likely, with many countries expected to experience an increase in activity in 2021 and beyond, particularly in Europe and the Americas.
Changes in legislation and regulation drops from the Global ranking from #3 to #5 year-on-year. “The pandemic may have caused some delays of the regulatory train, but it did not stop or even derail it. Quite the opposite, 2021 promises to become a very busy year in terms of new legislation and regulation, particularly in the areas of data and sustainability,” predicts Ludovic Subran, Chief Economist at Allianz. Natural catastrophes falls to #6 from #4 in the global rankings, reflecting the fact that although aggregated losses from multiple smaller events such as wildfires or tornadoes still led to widespread devastation and considerable insured losses in 2020, it was also the third consecutive year without a single large event, such as Hurricane Harvey in 2017.
Climate change also falls to #9 globally. However, the need to combat climate change remains as high as ever, given 2020 was the joint hottest year ever recorded. “With the vaccination campaign coming into effect, climate change will be back on the board agenda as a priority in 2021,” says Michael Bruch, Global Head of ESG at AGCS. “Many companies need to adjust their business for a low-carbon world — and risk managers need to be at the forefront of this transition.”
More information on the findings of the Allianz Risk Barometer 2021 is available here:
- Top 10 global business risks
- Full report
- Individual country and industry sector results
- Watch a short film about the top 10 risks for 2021
About Allianz Global Corporate & Specialty SE
Allianz Global Corporate & Specialty (AGCS) SE is a leading global corporate insurance carrier and a key business unit of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 10 dedicated lines of business.
Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals. Among them are not only the world’s largest consumer brands, tech companies and the global aviation and shipping industry, but also wineries, satellite operators or Hollywood film productions. They all look to AGCS for smart answers to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding claims experience.
Worldwide, AGCS operates with its own teams in 31 countries and through the Allianz Group network and partners in over 200 countries and territories, employing over 4,450 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2019, AGCS generated a total of €9.1 billion gross premium globally.
Twitter: [View Image]@AGCS_Insurance
Cautionary Note Regarding Forward-Looking Statements
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words “may”, “will”, “should”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “potential”, or “continue” and similar expressions identify forward-looking statements.
Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Allianz Group’s core business and core markets, (ii) performance of financial markets, including emerging markets, and including market volatility, liquidity and credit events (iii) the frequency and severity of insured loss events, including from natural catastrophes and including the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (ix) changing levels of competition, (x) changes in laws and regulations, including monetary convergence and the European Monetary Union, (xi) changes in the policies of central banks and/or foreign governments, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures, and (xiv) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.
The matters discussed herein may also be affected by risks and uncertainties described from time to time in Allianz SE’s filings with the U.S. Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statement.
New Fujitsu LIFEBOOK takes New Workstyle Productivity to the Next Level
- New line-up to enable the new normal includes high-performance
business notebooks with 11th Gen Intel® CoreTM
- Super-lightweight flagship LIFEBOOK U9 models weigh starting at 756g
- Ultra-mobile premium LIFEBOOK U7 is up to 15% smaller
and thinner than previous generation.
SAR – Media OutReach – 9 February, 2021 – Fujitsu today introduces upgraded LIFEBOOK commercial
notebook designed in line with today’s working styles. The new FUJITSU Notebook
LIFEBOOK U9, U7 and E5 series feature up to the 11th generation Intel®
Core™ i7 vPro® processors and a host of all-round enhancements.
Super-lightweight design redefines no-compromise working
Fujitsu LIFEBOOK U9311 is built to focus on the new normality for busy executives.
With up to the 11th generation Intel® Core™ i7 vPro®
processor and even smaller, more powerful, and lighter than before — weighing
just from 756 grams — the new flagship model of LIFEBOOK range redefines
no-compromise working. Also introducing the featherlight LIFEBOOK U9311X1
convertible, with the generous 13.3″ FHD touchscreen, AES pen with WACOM
technology, rear camera and full set of interfaces, it is your best companion in
improvements match today’s working styles
Available in a
range of popular sizes2, the LIFEBOOK U7 introduces a near-frameless
display3 on 14″ and 15.6″ models. They are thinner and up to 15%
smaller than previous generation. This slimline look, combined with a warm silver
color, gives the new models a strong visual presence. The LIFEBOOKs are good
lookers in a near-frameless screen design and Intel® IRIS® Xe graphics that gives stunning graphics
with an immersive experience for graphics-intensive applications.
built-in HD camera can be closed with an ultra-tiny privacy camera shutter4,
and an electronic ePrivacy filter narrows the readable angle of the screen5.
It gives the best-ever audio for LIFEBOOK from the dual array microphone
featured with noise cancellation technology.
design: New LIFEBOOK models
integrate Windows Hello, while Fujitsu’s contactless PalmSecureTM
biometric authentication provides the highest security and hygience standard. The
series feature Intel® Hardware Shield, available exclusively on the
Intel® vPro® platform, that provides comprehensive
hardware-based security for business, including below-the-OS-security protection,
application and data security protection, and advanced threat detection.
The best connectivity: The latest LIFEBOOK series offers
best-in-class connectivity with full sized LAN, HDMI,
USB-A and ThunderboltTM 4 ports for charging, speedy file
transfer and connect to display in one cable. The new 65Wh four-cell battery6 brings
superb battery performance which enables a full working day of cable-free
Powerful business platform — LIFEBOOK E5
introduces the new generation LIFEBOOK E5 series, featuring robust chassis and
all-round security functions including Fujitsu PalmSecureTM Sensor7,
built-in smartcard reader7, discrete TPM7 and privacy
camera shutter. Legacy features such as service door for convenient
self-upgrade and full size interfaces will be continuously supported in this
Pricing and availability
the new LIFEBOOK varies across countries and region. Prices vary by country and
1 LIFEBOOK U9311X will be available in
specific regions and countries only.
2 Three new advanced line models are
available: LIFEBOOK U7311(13.3″) , U7411(14″); and U7511 (15.6″).
3 Available on LIFEBOOK U7411 and U7511.
4Available on LIFEBOOK U9311, U7 and E5
5 Available on LIFEBOOK U7311 and U7411 (optional).
6 Available on LIFEBOOK U7411 and U7511.
7 Optional features.
Fujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services. Approximately 130,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE:6702) reported consolidated revenues of 3.9 trillion yen (US$35 billion) for the fiscal year ended March 31, 2020. For more information, please see www.fujitsu.com.
All other company or product names mentioned herein are trademarks or registered trademarks of their respective owners. Information provided in this press release is accurate at time of publication and is subject to change without advance notice.
Mondia powers new Ufone Gaming Portal in Pakistan
ISLAMABAD, PAKISTAN – EQS Newswire – 10 February 2021 – Mondia (www.Mondia.com), a leading technology company that specialises in the marketing and distribution
of digital content, announced the launch of a new gaming service for Ufone, a leading
telecommunications provider in Pakistan, to bring customers a unique gaming
The new gaming portal, Ubox by Ufone, will
offer customers an ‘All-You-Can-Eat’ gaming experience which includes thousands
of premium games. The dedicated gaming platform will be available as a web portal
– countering barriers of legacy devices, as well as an app for smartphone
users. Mondia will deploy the latest portal and application, as well as manage
“Telcos today are looking for unique ways to strengthen the
relationship with their online audiences which makes Mondia a partner of choice,
as we are an industry leader in content and platform services, lifecycle
management and in driving engagement,” said Dr Amadeo Rahmann, Chief Executive
Officer of Mondia. “Ufone is a successful telco operator, and we are looking
forward to supporting their mobile gaming portfolio by providing innovative and
engaging digital experiences to their customers through a world-class ecosystem
of games and content.”
The mobile game offering will enable Ufone
mobile users to access unlimited content, offering hundreds of games from
well-known and top gaming publishers through a monthly subscription.
“Gaming is a growing content segment and
our partnership with Mondia is an endorsement of our commitment to deliver an
enriching digital experience that our customers want,” said Ufone’s spokesperson.
“We continue to build our value proposition around our customers, and we are excited
to partner with Mondia as they have the same business ethos,” he concluded.
Group on behalf of Mondia.
Mondia (www.Mondia.com) is a leading technology company specialising in the marketing and distribution of digital content. Mondia has deep insight into where the markets are headed and the role of technology to solve business challenges while enabling the best user experiences. Mondia, through its content-agnostic platforms creates personalised digital experiences for people by providing them with the latest world-class digital content, accessible anywhere and anytime; including health, entertainment, lifestyle, gaming, music and sports. Mondia is well-positioned to enable its enterprise customers to grow their user engagement and maximise their monetisation potential through payment connectivity, customer acquisition and life cycle management services.
With 18 locations across Europe, the Middle East and Africa, Mondia reaches over 1.4bn end-users across over 60 countries. The company partners with more than 80 telco operators from around the world, over 1,000 content providers and 200 merchants. Mondia services are available in Ethiopia, Nigeria and Pakistan through mondia.cell. For more information please visit: www.Mondia.com.
Ufone (www.Ufone.com) is a Pakistani Cellular Company with its presence in all the major cities of Pakistan along with a comprehensive coverage across all major towns, villages and tehsil headquarters of the country. The company employs more than 3,850 people and operates with a network of more than 320 franchises and company-owned customer service centers along with a distribution network of 150,000 outlets nationwide.
Nature’s Superfoods Singapore Offers Organically-grown Products That Are Affordable and Accessible
SINGAPORE – Media OutReach – 10 February 2021 – By offering quality organic foods that are 100% natural, Nature’s Superfoods changes the conversation around the value these superfoods bring to everyday living. From berries and leafy greens to various nut types, superfoods are better understood as power-packed foods that load your meals with important nutrients that can encourage a healthy diet.
Are superfoods as good as their billing? Truth is, superfoods alone cannot compensate for a bad diet. However, when combined with a healthy diet, they can encourage healthier eating patterns. More than just superhype, these foods are a game changer for a wide range of consumers – from fitness enthusiasts and to individuals who are practicing diet consciousness – who are strengthening their personal well-being, especially post-pandemic.
Offering natural, organic, and nutrient-dense whole foods, Nature’s Superfoods only provides the highest quality and least processed organic foods from the respective country of origins, at the best possible prices. Free from gluten, refined sugars, and additive preservatives, the well-being of consumers is kept top priority.
Committed to bringing consumers nature’s superfoods at affordable prices, there is also a variety of options sold in all forms for easy integration into everyday living. From grains and seeds to easy bite-sized snacks, incorporating a superfood into your diet every now and then is easier than ever. The conversation on superfoods is best managed through intentional education. And, Nature’s Superfoods recognises that. Through creative recipes and informative blog resources, consumers get better insight into how and what superfoods can best supplement their diet. Likewise, these resources are also offered in focus-specific ways, such as immunity, energy and stamina. As a knowledge hub, Nature’s Superfoods is raising the bar in the sphere of superfoods and the like.
As consumers enter a period of recovery in the post-pandemic era, a renewed focus on health and well-being takes priority. With lifestyle habits changing, Nature’s Superfoods provides affordable and accessible organically-grown products that can ease transition into healthier eating habits.
Email: [email protected]
Tel: +65 68415476
About Nature’s Superfoods
Nature’s Superfoods is an organic foods brand created by Actspand Pte Ltd and owned by Nature’s Superfoods LLP. At Nature’s Superfoods, we believe in building lasting good health through 100% natural, organic and nutrient-rich whole foods. We chose the name ‘superfoods’ as these refer to foods abundant with nutrition and health-protecting benefits, which fit perfectly with our commitment to offer our clients nature’s best sources of nutrition.
For more information, visit our website here.
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