As part of their collaboration they conducted industry interviews and research to determine the current state of ERM in insurance, and how ERM should be applied in future. The report highlights how future Chief Risk Officers (CROs) will require a wider, more strategic set of skills to fulfil a leadership role.
The report also examines how risk and ERM are changing rapidly and why it is crucial for insurers to use ERM to create real value by making decisions based on all areas of their organisation’s risks. It also examines the process insurers should take in implementing ERM, and stresses the importance of CROs for insurance companies’ future success.
Please see the report below.