Interview with Roman Stein

swissVR Monitor: Our survey of Board members shows that the outlook for the Swiss economy in 2026 is sluggish and likely to be gloomier than 2025. What do you see as the main reasons for this trend?

Roman Stein: The sluggish economic outlook for 2026 reflects a number of issues: global uncertainty, the cyclical weakness of the US economy, the anticipatory impact on exports of US tariffs, and the ongoing strength of the Swiss Franc against a backdrop of very low interest rates. Short-term factors such as limited domestic generation of electricity are also slowing growth. The agreement with the US and Germany’s economic recovery are more positive factors, but overall, the outlook remains cautious. It’s an environment that places a particular burden on us as insurers. Ultimately, our business model involves assuming risk and ensuring predictability and, in the long run, stability, even when times are volatile and uncertain.

swissVR Monitor: Critics sometimes categorise the Board of Directors as a ‘fair weather body’. How can Boards future-proof their company in such challenging times as we are currently seeing?

Roman Stein: An effective Board best demonstrates its quality when it is facing headwinds, not tailwinds. It’s precisely at challenging times that companies need their Board consistently to question, define priorities and speed up decision-making. Future-proofing requires strategic clarity, a clear awareness of risk and the willingness to take responsibility, especially when times are uncertain.

swissVR Monitor: In 2025, Boards saw formulating a new corporate strategy as the most important issue they had to tackle. Our survey shows that for 2026, their focus has shifted to improving efficiency and optimising internal processes. How can the Board as a strategic body effectively influence efficiency and processes within the company?

Roman Stein: The Board of Directors does not implement processes itself; rather it defines the framework within which processes operate. However, by setting clear targets and measurable priorities and by monitoring and following up consistently, the Board can have a very direct influence on efficiency. Given the extent of uncertainty about the possible impact of using artificial intelligence, it is unsurprising – and actually, it is right – that Boards focus on efficiency and internal processes within their company and hold operational bodies to account for the measures taken in these areas. It is important that efficiency is not considered in isolation but is always seen as part of creating customer value and ensuring long-term competitiveness.

swissVR Monitor: What measures do you recommend Boards to take if they want to improve efficiency and optimise processes in their company?

Roman Stein: Their central focus should be on the processes with the greatest potential to create value. But clear responsibilities and decision-making powers are also important, along with the courage critically to challenge established structures. And Boards also need to make a rational assessment of where technology really can create value rather than just increasing complexity.

swissVR Monitor: Which other issues do you think Boards of Directors should be focusing on in 2026, given the current challenges facing the market?

Roman Stein: Alongside efficiency, the key issues will continue to be resilience, talent management and long-term value creation. The priority must be to make companies financially and operationally robust, to ensure they remain attractive employers within a demanding employment market, and to provide guidance within an environment that remains uncertain. The role of Boards is to create stability and consistently to look ahead. I also think that cyber security will continue to be an issue that a strategic management body must concern itself with.