Category Archives: Analytics

Video: Mutuals Must Differentiate to Weather Current Challenges

In this blog I speak with mutual (re)insurance specialists David Thomas, CEO of Market Services & Solutions at Willis; Robin Swindell, Executive Vice President at Willis Re and John Haydon, Executive Director at Willis Re. Continue reading →

Guide to ERM: Economic Capital Model Validation

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Fundamentally, an economic capital model seeks to consistently use exposure information and limited actual experience to estimate the impact of remote events that may or may not have ever happened in the past. Those who seek to make use of … Continue reading →

Guide to ERM: Change Risk

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The main processes for enterprise risk management in an insurer involve two levels of control cycles: The first level looks at the individual risks and sets out limits, controls and mitigation processes to assure that each individual risk that is … Continue reading →

RAND Study: TRIA Expiration Could “Affect U.S. National Resilience”

The Terrorism Risk Insurance Act (TRIA), which provides a federal backstop for insured terrorism losses, will expire later in 2014. There’s been plenty of discussion about the disruption to insurance markets that could be created by failure to renew this … Continue reading →

All on the Same Train, but Heading in Different Directions: Risk Attitudes and Implications for forming a Risk Culture

The term risk culture refers to how things are seen, done and justified. It’s not the explanation of last resort to be used only when other explanations—economic, demographic, organizational—are inadequate, i.e. “Oh well, it must be cultural then.” Continue reading →

Guide to ERM: Policies and Standards

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Risk management policies are nothing more and nothing less than a clear statement of what the insurer intends to do within its ERM program. The entire set of risk policies can be all included in one consolidated corporate risk policy … Continue reading →

Guide to ERM: Risk Organization

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Some say that in a perfect world, there is no need for a separate risk organization. But that is probably not true.  Besides, we do not live in a perfect world anyway. There are four common organizational steps that insurers … Continue reading →

Guide to ERM: Risk Limits and Controls

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At the most fundamental level, enterprise risk management can be understood as a control cycle. In an insurance company’s risk control cycle, management needs to first identify the key risks. Continue reading →

Suits & Hoodies: Different Approaches Toward Utilising Big Data

Suits vs Hoodies

Recently I was lucky enough to attend some of lectures at the Gartner Symposium held in Barcelona. The conference was the stage for two sets of battles, the first of which involved Microsoft and Google in the battle of the … Continue reading →

Thoughts on the Midwest Tornado Outbreak

November isn’t generally known for tornado outbreaks in the U.S., but mid-way through the month a vicious and deadly swathe of tornados swarmed through the Midwest States of Illinois, Indiana, Kentucky, Missouri, Ohio and Michigan leaving widespread damage and destruction … Continue reading →