What business leaders prioritize in a rapidly shifting world

• WBN study of 1,000 European C-suite leaders shows almost half rank risk management as second most important driver of organizational resilience, closely behind innovation and digital transformation
• Over 1 in 3 perceive insurance primarily first as a strategic investment into business performance, and second as a critical operational safeguard
• Cyber and digital risk, AI and economic uncertainty rank as top three business concerns across Europe

Business leaders across Europe are united in what keeps them awake at night but divided by the pace at which they are embedding insurance into board-level strategy, according to data from WBN’s “New Risk Reality Report”.

The survey of 1,000 leaders from the UK, France, Germany and Spain, all with insurance purchasing or renewal responsibility, was independently commissioned by WBN in partnership with MarshBerry.

Europe’s business leaders agree on their top three business pressures; cyber and digital risk, AI and economic volatility. Almost one in two also consistently rank “a proactive risk management strategy” as the second most important factor for organizational resilience, closely behind innovation and digital transformation.

However, perceptions about the strategic priority of insurance within their organization differ by region:

• United Kingdom – Leads globally in perception of commercial insurance as primarily a strategic investment (51%) that supports resilience and business performance. Over half (55%) of UK leaders rank quality of service as by far the top factor in choosing a broker, the highest globally, and are most concerned about both cyber risk and cyber-insurance gaps.
• France – Sits mid-table on strategic perception (35%) but has the highest share of leaders who still see insurance as an “unavoidable expense” (6% versus 3% globally). When choosing a broker, 45% prioritize price and total cost of risk as the most influential factors, closely followed by quality of service delivery.
• Spain – Also at 35% on strategic perception and has the highest share or leaders who view innovation as the most important resilience lever, well ahead of proactive risk management strategy or crisis preparedness. Unlike France, Spanish leaders favour price far over quality service (39% vs 32%), with industry specialization (38%) and global network reach (35%) among the top three influential factors when selecting a broker.
• Germany – Trails the region on strategic perception of insurance (29%), with 45% instead viewing it primarily as a critical operational safeguard, far higher than the 34% global average. German leaders are the only group to rank clear governance and decision-making frameworks (48%) on par with a proactive risk strategy a top resilience driver.

Rising premiums are the top insurance-related concern across the region, according to 48% in France, 43% in Germany, 41% in the UK, and 37% in Spain, the lowest of any market in the study. Spain’s real worries are dominated by natural catastrophe capacity (40%) and coverage adequacy (36%), a reflection of the region’s exposure to extreme weather.

Nine in ten European leaders say their organization’s risk management function has a “good” reputation, but cite ‘stronger relationships that feel consultative, not transactional’ as the factor that would most improve it. Geopolitical instability is a bigger concern in continental Europe than in the UK. It is a top three risk in France, Germany, and Spain, but not in the UK, where cybersecurity, AI disruption and economic uncertainty round out the top concerns.

“What resonates most strongly from this research is how rapidly insurance is evolving into a strategic tool for risk, resilience, and workforce stability across every market we operate in, even where that evolution is happening at different speeds. It’s becoming integral to business planning on a Board level, rather than an afterthought or cost centre,” said Olga Collins, CEO of WBN.

WBN also surveyed 750 leaders across the US and Canada, which revealed notable contrasts with Europe:

• Strategic perception of insurance: 49% of US leaders see commercial insurance as crucial to resilience and performance, closely matched by the UK (51%) but far ahead of Germany (29%), France (35%) and Spain (35%)
• Rising premiums: Half of US leaders name affordability as their top insurance concern – the highest of all markets surveyed – against a European range of 37% (Spain) to 48% (France)
• Choosing a broker: US and UK leaders lead on valuing digital tools and innovation (43% and 45% respectively); continental Europe – particularly France and Spain – cares more about price and specialization

WBN Board Members across the four countries surveyed responded to the findings:

Charles Bromfield, McGill and Partners (UK)

“As traditional risk boundaries blur and new challenges like AI and cyber risk emerge, clients are increasingly looking for more than just capacity. They require brokers who can provide laser-focused risk transfer solutions for their most complex placements. The future of our industry lies in combining deep specialist knowledge with a truly global reach to create clarity and confidence in an uncertain world.”

Benjamin Verlingue, Verlingue (France)

“For French organizations, resilience is built on proactive risk management and crisis preparedness. Their concerns around digital transformation and global program complexity are real, and we as brokers are expected to provide earlier foresight and faster global responsiveness.”

Ralf Bender, SÜDVERS (Germany)

“German companies remain operationally disciplined, but the volatility of cyber and geopolitical risks is reshaping their priorities. Clients need industry-specific expertise and brokers who can help them navigate regulatory nuance while improving consistency across markets.”

João Almeida-Santos, Grupo Concentra (Spain)

“Spanish businesses are feeling the pressure of economic uncertainty and geopolitical instability, and they rely heavily on local regulatory understanding to stay compliant and agile. Rising premiums and catastrophe exposure are front of mind, so they expect brokers to demonstrate real value and tighter global alignment.”