Enterprise risk management can help insurers successfully manage the disruptions and risks that arise in the marketplace as well as use them to their advantage. With factors such as market volatility, digital disruption, cyber threats and increased stakeholder visibility, insurers need the ability to identify, manage, exploit and monitor the risks that will shape the future of their organisations.
An increasing number of insurers are seeking to improve their management practices and the operating performance of their businesses. This includes addressing issues such as how to take risk informed strategic decisions, ensuring that risk becomes part of a strategy process and embedding risk as a capability across the organisation.
We advise companies of all sizes across the insurance sector on how to embrace enterprise risk management and achieve value through a holistic strategy. By embedding ERM into business processes, insurance firms become insight and value driven organisations, strengthening their resilience and sustainability through risk strategic decision making.
Our specialists help insurers to move towards an insight-driven and performance-oriented approach to risk management, one that becomes intrinsic to the business and is embedded across business processes. We offer key services that include governance and oversight, where we review business model objectives, risk strategy and define quick win areas to create better value.
For risk management, we establish a structure to track decisions throughout their implementation and review economic capital models. We also offer a business execution service where we align risk appetites with business plans, capital management and performance measures.