Crisis management lessons with WTW’s Thomson-Hall

Drawing from a career spanning multiple continents and decades of experience, Pamela Thomson-Hall, CEO, international, WTW reveals that effective crisis management is rooted in robust communication and a deep understanding of local culture.

“We are an organisation that has spent nearly 200 years advising clients on crisis management,” she explains.

“Our experiences in Russia, the Middle East, and other sometimes volatile regions have taught us that clear, pre-planned communication is absolutely essential.”

Her reflections stem from, amongst other crises, her time managing operations during the Russia-Ukraine crisis, where sanctions and trade embargoes forced rapid and difficult decisions.

“We had to extricate ourselves from challenging environments while ensuring the safety and well-being of our people. It’s a delicate balance between managing economic interests and human concerns,” she adds.

She underscores the importance of cultural nuance in navigating these crises.

“You can never really understand another person’s point of view unless you’ve actually been in their shoes,” Thomson-Hall says.

This sentiment drives her strategy of leveraging local expertise and collecting data points on cultural dynamics. “When dealing with sensitive geopolitical issues, relying solely on what you believe to be true can be misleading,” she cautions.

The maturing market for war, political violence and terrorism insurance – typically offered on a facultative reinsurance basis – has led to more carriers and capacity entering the space in recent years.

It is also being shaped by regional re/insurance hubs, such as for Middle East, Africa and Southern Asia (MEASA) countries, and the Dubai International Financial Centre (DIFC), which has emerged as a major re/insurance hub for this MEASA business.

“Dubai, and specifically the DIFC, has grown into a specialist hub that offers unique opportunities for the re/insurance industry. The influx of talent and increased appetite for broader risk coverage have redefined the market,” Thomson-Hall says.

Her insights reveal that the successful management of crises in such dynamic environments requires firms to adapt quickly and innovate constantly.

Her approach to crisis management is not just about reacting to events, but about future focussed thinking, anticipating potential issues.

“Every crisis teaches us something new, and the lessons we’ve learned are integral to shaping our risk appetite and guiding our decisions,” she explains.