Survey of Emerging Risks - India Market Key Findings

March 2025

Author

Dale Hall, FSA, MAAA, CERA, CFA
Society of Actuaries Research Institute

Executive Summary

This report summarizes the key findings of an Emerging Risk Survey focusing on risks within the India market, with the survey issued to members of the Institute of Actuaries of India and the Society of Actuaries. Results on current and emerging risks are noted, as well as observations on current event topics such as the risks posed by the use of artificial intelligence (AI) and where risk management oversight for AI activities is commonly performed within organizations. Results are also compared to similar questions asked in a North American market survey in November 2024 and the resulting report entitled the 18th Annual Survey of Emerging Risks Key Findings.[1]

Risk manager concerns in the survey focus on financial volatility and disruptive technology as the most commonly referenced current risks. Climate change and disruptive technology are most frequently noted as top emerging risks that can occur and develop in the coming years for risk managers and actuaries. Energy price shocks, disruptive technology, and climate change were risks noted as having additional potential for adverse outcomes when occurring in combination with other emerging risks.

The survey respondents additionally noted that a variety of AI risks should be monitored, with the largest concern for AI causing increased cybersecurity risks, increasing the potential for manipulation and deepfakes, and causing unintended bias and discrimination through its use. Risk management of AI risks were noted by respondents to be most commonly housed with the Enterprise Risk Management and Information Technology areas of their organizations. Finally, the survey indicated some optimism for the economic outlook of the Indian market for 2025, and relatively stronger optimism for India than the economic outlook of broader global markets.

The reader should note that surveys are tied to their specific time and environment, with recency bias (a belief that recent events are more likely to reoccur) always present. The survey response period was from late January 2025 through early March 2025.

Report

Survey of Emerging Risks - India Market Key Findings

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[1] https://www.soa.org/48fe83/globalassets/assets/files/resources/research-report/2025/18th-survey-emerging-risks.pdf