Strategic Risk Leadership in Times of Change

In your career, what have been the key milestones that led to your role as Chief Risk Officer at Generali Brasil?

I started my journey in the insurance industry in 2001 as an actuary, working mainly with life and pension products. Those early years gave me a solid technical foundation and helped shape my understanding of long-term risk assumptions. I learned to appreciate how analytical depth and responsibility go hand in hand, especially in areas where we are entrusted with people’s future protection.

Ten years later, I moved into consulting, which expanded my exposure to different companies and business challenges. In 2015, I took a managerial role in risk management, and that transition marked a significant shift in my career. It allowed me to build expertise in enterprise risk frameworks, Solvency II, and capital modeling while also growing as a team leader. I have always believed that technical strength should be matched with the ability to collaborate, communicate, and guide others.

In 2021, I joined Generali Brasil, appointed Chief Risk Officer. The opportunity to lead risk at a company with such a global footprint, and in a moment of profound transformation for the industry, has been both a challenge and a privilege.

What are the emerging risks associated with digital transformation in the insurance industry?

Cyber risk is already well recognized, and rightly so, but I believe the conversation on emerging risks can go further. One area I find particularly relevant is model risk, especially as we incorporate artificial intelligence and machine learning into pricing and underwriting processes. These technologies are powerful, but if not carefully designed, they can introduce bias or produce results that are difficult to interpret, even for experts.

Related to this is a more subtle but crucial concern: the ethical and governance risks of algorithmic decision-making. As we shift more responsibility to machines, we need to ensure that human oversight, fairness, and transparency remain at the core of our processes. Even well-intentioned automation can create reputational exposure if not properly controlled.

Another point that deserves more attention is technology dependency. Many insurers, including large and sophisticated ones, are becoming dependent on a few cloud or analytics providers. This concentration risk is not always apparent until a failure or outage occurs. It is something we actively monitor.

And finally, regulatory uncertainty. Innovation often advances faster than regulation, and operating in this mismatch can be uncomfortable. Navigating these gray areas requires a combination of prudence, creativity, and legal awareness, skills that are increasingly essential for risk teams.

Do you see any key developments and advancements that will change the insurance sector in the near future, and in what ways do you feel they will do so?

Beyond climate and sustainability risks, which are undoubtedly significant, I believe there are some. One that stands out is the shift in talent and capabilities. The industry now seeks not only professionals with actuarial and underwriting skills but also those who can master new tools, interpret data effectively, and adapt quickly. From my perspective, it is as much about fostering a collaborative and agile culture as it is about technical skills.

Another interesting trend is the growth of parametric and usage-based insurance. These models offer speed, simplicity, and relevance, especially for new generations of consumers or underinsured markets. They also challenge the traditional assumptions we rely on to price and provision reserves. It is a space that I believe will evolve rapidly and open up opportunities for innovation beyond what we see today.

These developments point to a broader shift in how we define the role of the insurer: not just a claims payer, but a proactive partner in prevention, service, and resilience.

What strategic advice would you give to fellow risk management professionals and senior leaders in the insurance industry?

I would say, do not limit risk management to being reactive or compliance driven. The real value lies in helping the business make better decisions under uncertainty. That starts with understanding the strategy, the people, and the environment around you.

Also, build a risk-aware culture, not by imposing processes, but by engaging people in meaningful conversations about risk and responsibility. I have found that the more we bring people into the process, the more effective the outcomes are.

Stay curious, be open to learning, and do not underestimate the power of communication. Sometimes, the ability to simplify a complex idea and convey it with clarity makes all the difference, whether you are speaking to a board, a team, or a regulator. Less obvious developments are reshaping our industry.