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Articles by Teresa Long
Articles - Retail, leisure and hospitality: Cutting out AI fraud claims
By Teresa Long, Industry Leader – Retail, Leisure and Hospitality for GB Risk and Broking, WTW How is AI driving heightened fraud risk for retail, leisure and hospitality businesses? AI is helping fraudulent claimants transform what would have been a short or patchy complaint into a detailed claim, with a chronology, confident wording and realistic images that support their account.
This Is How Retailers Can Manage Violence And Theft Risk Now
At WTW, we provide data-driven, insight-led solutions in the areas of people, risk and capital that make your organization more resilient, motivate your workforce, and maximize performance. We work shoulder to shoulder with you, bringing diverse points of view and a deep commitment to your success. By challenging one another, we achieve breakthroughs because only the best ideas survive. The result?
Protect Duty: Where Next For The Law And Your Retail, Leisure And Hospitality Business?
The King's speech this summer indicated momentum on making the Protect Duty law, but delays are ongoing. What does your retail, leisure and hospitality business need to know, and do, now? The new Protect Duty, also known as Martyn's Law, was conceived to establish legal requirements designed to improve protective security and preparedness at publicly accessible locations, including retail, leisure and hospitality spaces.
Navigating The Playing Field: ERM Strategies For Success In The Sports Industry
How can enterprise risk management (ERM) help sports organisations understand and address multifaceted challenges to their brands and financial performance? Organisations in the sports industry are no strangers to the balance of risk and reward. In the pursuit of success, you need to maintain focus on financial performance, brand management, cultivating a loyal fan base while also being alert to increasing regulation and compliance, among many other risks.
Retail Sector: Understanding The Rise And Risks Of The Virtual Influencer
More retailers are turning to computer-generated personalities to boost engagement and sales. What do you need to know about virtual influencers to maximise their potential? Virtual influencers are playing an increasingly important role in digital marketing for retailers. These entirely computer-generated digital personas have become a notable part of consumer engagement strategies for some brands, due in part to their ability to interact persuasively with specific customer segments.
Leisure And Hospitality: Responding To Megatrends In 2024
To support continued resilience in the leisure and hospitality industry, WTW specialists look at the key themes from the WTW Leisure and Hospitality Futures Report one year on. In 2023, we shared the WTW Leisure and Hospitality Futures Report, commissioned to understand the risks, megatrends and strategic issues likely to affect trading for the leisure and hospitality (L&H) sector over the next 10 years and beyond. One year on, we reconsider the key themes we examined in our research.
Global Retail Risk Outlook 2024
In the midst of shifting market dynamics, the retail sector faces unparalleled challenges, grappling with online competition and evolving consumer behavior. Our comprehensive survey of 700 senior decision-makers delves into the risks and opportunities that define the industry's landscape. In 2024, the retail sector faces unprecedented challenges amid heightened competition and evolving market dynamics.
Fall In Customer Engagement May Put Leisure And Hospitality Reputations At Risk
Leisure and hospitality companies may not be doing enough to detect and prevent threats before they happen, according to WTW's latest Reputation Risk Readiness survey. Our survey asked leisure and hospitality business leaders around the world about their approach to reputation risk. We found that companies are not engaging with customers and stakeholders as much as they should to understand trends in opinion and address any emerging issues that could risk a reputational backlash.
Neglecting ESG In Retail May Lead To Increased Reputational Risks
Retail businesses need to make greater progress on environmental, social and governance (ESG) issues to protect their reputation, according to WTW's latest Reputation Risk Readiness survey. Environmental, social and governance (ESG) concerns are an increasing driver of reputation in retail.
Leisure And Hospitality: Why And How To Prepare And Test Future Scenarios For Long-Term Resilience
How your leisure and hospitality business can prepare for the next decade and beyond by exploring emerging trends and establishing a collaborative risk culture. Preparing and testing future scenarios allows your leisure and hospitality organisation to respond more effectively to greater uncertainty into the next 10–20 years.
Five Questions To Deliver Compelling Omnichannel Shopping Experiences
Ideas to clarify your priorities when reviewing your omnichannel offer to build a more resilient future for your retail brand. While some in-person retail interactions have dramatically changed or been supplanted by digital engagement, the 'death of the high street' is not as simple as headlines may suggest. For retailers, responding to longer-term customer behaviours and preferences means evaluating your current omnichannel shopping experiences.
Retail Futures Report: Your Roadmap To Resilience
Plot your course through the major risks and opportunities facing the retail sector, from managing the metaverse to finding the right influencer strategy, with WTW's latest research. What trends and strategic issues will define retailers' success or failure in the next ten years, and how can you make sure your risk management and insurance strategy is right for your future business model?
Retail Risk Review - State Of The D&O Market For The Retail Sector - Directors and Officers - UK
The Directors and Officers (D&O) insurance market, both in Great Britain and globally, has experienced significant volatility over the past 3-4 years. From a capacity collapse in 2019-2020 to subsequent extreme price hikes, the past 12 months have brought about a remarkable turnaround. Rising rates attracted new entrants and rekindled the interest of cautious insurers, fostering increased competition and leading to noteworthy price reductions.
Detaining Shoplifters: How To Get Your Approach Right To Protect Revenue And Reputation
Your policy on store security and detaining suspected shoplifters will have risks and rewards. Can you find a smarter way to reduce the risks? Retailers are facing a surge in shoplifting and potential rising costs of claims in light of civil unrest. In March, police forces in England, Wales and Northern Ireland recorded nearly 33,000 incidents of shoplifting, according to data analysed by the BBC. This represents an increase of more than 30% compared with March last year.
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