Tag Archives: analytics

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

traffic signs

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

Org Chart

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

Traffric Cones

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 →

Volcano Risk: Have we Learned any Lessons?

Don’t miss the exhibition Life and Death: Pompeii and Herculaneum still showing at London’s British Museum for a few days. For a place so closely associated in everyone’s mind with sudden death, the curators managed to put the emphasis on … Continue reading →

Clean Air and Tropical Storm Frequency

earth, aerosols, atmosphere, climate change

Using the word ‘aerosol’ in everyday language might generally be associated with spray cans. However besides styling our hair or odourising a room, aerosols are known to influence various physical processes in our atmosphere. Continue reading →

Stemming the Flow: Flooding in Central Europe

Prolonged heavy rainfall across central Europe combined with a wet May has brought widespread flooding to much of Germany, Austria and the Czech Republic. In response, Willis has mobilised field teams to document the evolution of the flood wave, survey … Continue reading →

Could an Earthquake Cause the Next Financial Crisis?

On January 17, 1995, an earthquake struck the Japanese port city of Kobe, killing 6,500 people and destroying $100 billion worth of property and capital. Five weeks later, Barings Bank was declared insolvent after admitting losses of $1.3 billion, twice the … Continue reading →