Best practices in risk management

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Embedding digitalization into Governance, Risk Management and Compliance activities

  Increased digitalization in society is leading to increased digitalization in the insurance industry impacting distribution, product design, underwriting and operations. This changing landscape also requires that Governance, Risk Management and Compliance (GRC) activities across [...]

2023-07-31T11:49:47+00:00March 14th, 2023|

ORSA Stress and Scenario Testing – Best practice for assessing risks

In 2013 the CRO Forum published a paper on Scenario Analysis that provided principles that could be used by re(insurance) practitioners to develop an appropriate set of scenarios and stress tests within their risk management [...]

2023-03-14T14:52:48+00:00February 10th, 2023|

A new perspective on pandemics: Covid-19 insurance impacts and challenges.

In 2007 the CRO Forum published a paper on “Influenza Pandemics” that provided a consolidated view of the potential impact of a Spanish Flu-like scenario on insurance undertakings. The authors also identified steps toward better [...]

2023-01-24T15:14:17+00:00October 28th, 2022|

Data Quality in the Insurance sector – Stocktaking and proposed way forward

Although insurance companies have always based their management decisions on information about exposures, risks and customers, the entry into force of Solvency II in 2016 represented a key incentive to progress from informal data quality [...]

2020-11-20T15:23:15+00:00September 14th, 2020|

Medical advances – Risks and opportunities for the (re)insurance industry

Medical advances have significantly improved existing medical practice and will continue do so in the future. Such developments will not only bring benefits for clinicians and patients, but also opportunities and challenges for insurers adapting [...]

2022-11-14T14:31:33+00:00December 23rd, 2019|

Managing liquidity risk: Industry practices and recommendations for CROs

More than ten years on from the global financial crisis, liquidity risk remains an important theme for the financial services industry, including for re/insurers. The crisis triggered changes in market dynamics. The paper highlights the [...]

2020-11-20T15:29:41+00:00September 11th, 2019|
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