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Insurers and risk managers must work together to develop a new business model based on partnership if they are to retain value and relevance to businesses, according to a three-part analysis of the future of risk and insurance conducted by Airmic with AXA Corporate Solutions, Chubb and JLT Specialty.

Organisations are not doing enough to ensure their travel risk strategies are fit for the 21st century realities of business travel and fulfil their legal duty of care, according to Airmic which today published a guide for risk professionals on travel risk management.

Airmic today announced plans to partner UK universities in an initiative designed to inject young talent into the risk management profession, develop the broader business skills of its membership and form academic liaisons. The association warned that the profession must do more to retain relevance in a changing world, or experience a talent gap.