Posts Tagged ‘risk management’



October 23rd, 2018

Data and Analytics Support Innovations in Flood Risk Management - GC@BB Commentary

Posted at 9:00 AM ET

cleary_liz_photo21 Elizabeth Cleary, Managing Director

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  • Increased computing power is fueling innovative solutions for flood underwriting
  • Insurers are using technology to communicate a homeowner’s flood risk with mobile apps
  • Guy Carpenter works extensively with most commercial vendor flood models

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October 22nd, 2018

A Strategic Approach to Profitable Growth - GC@BB Commentary

Posted at 1:00 AM ET

priebe_david_croppedDavid Priebe, Vice Chairman

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  • Availability of rich data sets and analytic solutions enables evaluation of opportunities
  • Companies seeking growth must evaluate their existing distribution channels
  • Drones and self-driving cars present challenges for (re)insurers

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October 16th, 2018

From Threats to Impact: Evolving Risk Concerns in Asia-Pacific

Posted at 1:00 AM ET

_offset_472526_smallIn recent years, there has been an increase across the globe in the scale, diversity and impact of risk events. From cyber-attacks to major hurricanes and floods, and from the US-China trade war to unexpected developments around relations with North Korea, recent norms have been turned upside down and uncertainty reigns.

The Asia-Pacific region has been at the center of many of these developments and businesses operating in the region need to adapt accordingly. Continue reading…

October 15th, 2018

Real-Time Risk Management and Next-Generation Insurance

Posted at 1:00 AM ET

john_drizik_2John Drzik President, Global Risk and Digital at Marsh

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A confluence of trends is enabling businesses and the insurance industry to move toward a revolutionary new approach: real-time risk management.

Managing risk in real time offers the potential to both reduce risk and transfer it more effectively. It means businesses can have an up-to-the-minute view of their changing risk exposures—and take actions to mitigate them—and that the insurance industry no longer needs to rely only on historical data to price risk. Continue reading…

October 10th, 2018

A New Boldness in Tackling Emerging Risks – Part II

Posted at 1:00 AM ET

For many risk leaders, implementing the seven imperatives in the previous article will prompt a rethink of the team’s capabilities and culture. Operationally, these strategies call for greater experimentation in analytics, creativity in stakeholder engagement, and agility in developing insights on the materiality of pressing concerns. Strategically, it means championing threats for which evidence is limited or conflicting, and helping to scope innovative risk mitigation solutions.

As outlined in the report Material Improbabilities, Getting Practical with Emerging Risks from Marsh & McLennan Companies Global Risk Center, some risk leaders may need to expand their comfort zone, but those who can mesh strategic vision, influencing skills, and technological fluency on top of their core risk-management expertise will be best positioned to help their firms negotiate dynamic risk environments laden with potential shocks and disruption.

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October 9th, 2018

A New Boldness in Tackling Emerging Risks – Part I

Posted at 1:00 AM ET

Risk teams are under increasing pressure to move beyond blocking and tackling to providing strategic risk advice that can help their companies achieve sustainable resilience in the face of critical emerging risks, according to the report Material Improbabilities, Getting Practical with Emerging Risks from Marsh & McLennan Companies Global Risk Center.

Where the expectation isn’t already there, it ought to be and probably will be in due course. This shift is vital for firms and a boost for the standing of the risk function when resource levels are otherwise threatened by cost pressures, opportunities for activity automation, and greater confidence in global economic conditions. Continue reading…

September 27th, 2018

Cyberattack – Limiting Financial losses

Posted at 1:00 AM ET

In the event of a debilitating attack, cyber insurance and associated services can limit an organization’s financial damage from direct and indirect costs and help accelerate its recovery.

In the study Cyber Risk Management: Response and Recovery, from Marsh & McLennan Companies Global Risk Center and WomenCorporateDirectors, an example is provided that as a result of the NotPetya attack, one global company reported a decline in operating margins and income, with losses in excess of USD500 million in a fiscal year. Continue reading…

September 24th, 2018

Healthcare & Cyber Risk – Quantifying Exposure

Posted at 1:00 AM ET

holding-healthcare-to-ransom-cover-image-6The new study, Holding Healthcare to Ransom by Marsh & McLennan Companies Global Risk Center, reports that about 56 percent of healthcare respondents in the Marsh-Microsoft Global Cyber Risk Perception Survey say their organizations measure the cyber risks that they are exposed to, but a significant proportion do so using qualitative methods. Continue reading…

September 20th, 2018

Healthcare & Cyber Risk - The Need to Distribute Cyber Risk Management

Posted at 1:00 AM ET

holding-healthcare-to-ransom-cover-image-6Cyber risk management in the healthcare industry is still perceived to be driven by the IT department only, rather than overall enterprise risk management. According to healthcare respondents in the study Holding Healthcare to Ransom by Marsh & McLennan Companies Global Cyber Risk, 83 percent indicated that responsibility for cyber risk sits mainly with IT professionals and they are the primary owners and decision-makers for managing cyber risks, as compared to the 70 percent cross-industry average. Continue reading…