The same technological developments and tools that are enabling organizations to transform and advance are also introducing their own set of potential threats. ... Continue Reading »
risk management
Organizational Enablers for the Future Risk Management Function
The success of the risk function – or any function, for that matter – does not solely depend on the skillsets and roles of individual risk managers. A function’s success also depends on how the company as a whole operates. A recent survey, for instance, found that innovations by one unit often fail to be adopted across the wider company due to issues with how different parts ... Continue Reading »
How to Line Up Your Cyber Defense
Given the reality of the cyber threat landscape, you need to determine the tools you need to mitigate and respond to inevitable cyber attacks. Unfortunately, while both the aggressiveness and sophistication of cyber attacks have accelerated, defensive capabilities have been relatively slow to evolve and respond (1). ... Continue Reading »
Complications That Impact Cyber Resilience
In an increasingly complex business and cyber landscape, organizations encounter greater challenges when trying to balance their business resilience and cyber security priorities. Between 2016 and 2018, the rate of growth for internet users was 10 times faster than the global population. Correspondingly, the surface area for attack has expanded exponentially (1). The ... Continue Reading »
Advancing Cyber Risk Management – From Security to Resilience
In an increasingly digital economy, cyber threats and vulnerabilities evolve fast. But despite growing anxieties around cyber, traditional security strategies and investments continue to lag. For organizations focused on balancing their growth plans and cyber security priorities both challenges and opportunities remain. The new report from Marsh & McLennan Insights, ... Continue Reading »
Healthcare Organizations and Medical Risk: What HCOs Need to Know About the Medical Risks They Own
As healthcare organizations transition their business models from "fee for service" to "fee for value," margin pressure, capital allocation and expense management are pitfalls to a successful transition. We argue that the creation of an integrated risk strategy framework to think about medical risk collectively (the medical risk continuum) will empower healthcare organizations ... Continue Reading »
Insurance Risk Management 2025: Navigating the Digital Future
How could the insurance industry look in 2025, and what are the implications for the risk function? A video from Guy Carpenter affiliate Oliver Wyman offers a futuristic glimpse of a rapidly evolving industry. The insurance industry of today is already highly complex. However, this complexity is only likely to increase as business models evolve, the speed of change regarding ... Continue Reading »
From Risk To Strategy: Embracing The Technology Shift
Technological change and digitalization can help risk functions in Asia Pacific increase their efficiency and effectiveness, but this will require new skills at an individual level, a supportive organizational environment and a well-managed transformation program. ... Continue Reading »
Facultative or Treaty and Why the Need for Hybrid Solutions: Part II
Jeff Fleming, Managing Director Contact Turning to the other form of reinsurance, treaty is considered generally to be the "go-to" coverage solution for portfolios of risk. Challenges associated with treaty reinsurance may include: Minimum and deposit premiums Unnecessary coverage Limited sideways coverage (reinstatements and occurrence caps). "As a result ... Continue Reading »
Facultative or Treaty and Why the Need for Hybrid Solutions: Part I
Jeff Fleming, Managing Director Contact Insurers face challenges in managing underwriting, capital protection, risk and risk profiling as they navigate underwriting guidelines based on their gross and net risk underwriting appetite. Against these challenges, companies utilize various forms of reinsurance, traditionally facultative or treaty, to buy risk protection, shore ... Continue Reading »
