How Your ORSA Can Be Retooled for a Competitive Advantage
As a carrier executive, you probably don't get excited at the thought of complying with regulations like the Own Risk Solvency Assessment, commonly known as ORSA.
10 Dos and Don’ts of a Smart ORSA Report
My conversations with carrier CEOs, CFOs, and CROs about enterprise risk management and ORSA--Own Risk and Solvency Assessment—tend to go down the path of strict compliance and a sense of ...
Should Company Size Determine a Carrier’s ERM Practices?
Gather a group of 20, 30 or even 50 P/C insurance executives in a room and ask, "Who here wants their company to miss achieving its strategic goals?" or "Who wants to ...
Investing in Your Company’s Long-Term Viability
If you are a veteran of the insurance industry like me, then you can attest to just how radically the landscape has changed since the dawn of the new millennium a quarter ...
Innovation: Why Carriers Shouldn’t Try to Keep Up With the Joneses
Innovation has been generating much attention lately due to the explosive growth of AI, even though the concept of innovation has existed ever since cavemen learned how ...
Enterprise Risk Management Secrets for Long-Term Company Growth
If my conversations with property/casualty insurance executives are any indication, many leaders view enterprise risk management (ERM) as simply an exercise for complying ...
5 Questions to Ask to Identify Your Company-Specific Top Risks
There is no denying the popularity of top 10 lists.
Whatever the subject—sports, music, literature, business, you name it—there is ...
The Merger of Strategy and Risk: Understanding the Why
Over the last few years, research has shown that an increasing number of employees want to understand the "why"—or otherwise have purpose—behind what they do to be ...
ERM and Strategic Scenario Analysis: A New Way to Think About Innovation
All iconic brands—past, present and future—share one thing in common: innovation.
When done right, innovation is one of the ...
Do Your ERM Practices Need Updating?
Immediacy or necessity has a way of sneaking up on us and getting our attention.
This principle is true across the board.