Forrester Digital Transformation

JULY 14, 2022

On July 6, 2022, The Travelers Property Casualty Company of America (Travelers Insurance) filed a suit in Illinois Federal Court against International Control Services, Inc (ICS) asking for policy rescission and declaratory judgment against ICS.

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Risk Guide

MAY 5, 2021

In this series of Risk Managers Getting Coffee, we’ll be meeting with seven Risk Managers to gain insight into their risk experiences, areas of expertise and to learn more about risk management in the country they work in. In this episode, Alexander Larsen met Gregory Irgin in the UAE.

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Obobo

DECEMBER 13, 2022

What is Third Party Risk Management? First, let’s start with understanding what risk management is. Risk management is the process of identifying, assessing, and controlling risks. Now that we have a general understanding of risk management, let’s talk about third party risk management (TPRM).

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IBM Services

DECEMBER 4, 2023

IBM can help insurance companies insert generative AI into their business processes IBM is one of a few companies globally that can bring together the range of capabilities needed to completely transform the way insurance is marketed, sold, underwritten, serviced and paid for.

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TMS

MARCH 7, 2023

One of the most important tasks that a project manager must handle is assessing risks. There are pre-set risk management processes that most managers apply in order to run the projects smoothly, without encountering any problems. The basic risk management process contains five core steps.

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Everest Group

APRIL 28, 2022

Sharing sensitive data with outsourcing providers in today’s interconnected digital world has increased organizations’ vulnerability to cyberattacks, making it more important than ever to have an effective supplier cyber risk management strategy. Not having a formal supplier cyber risk management strategy can cause compliance issues.

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Everest Group

MAY 24, 2023

As the insurance industry undergoes a paradigm shift post-pandemic, digital transformation can improve customer experience and engagement. Partnering with service providers will help insurers overcome barriers and improve efficiencies. Read on to learn more. Reach out directly to discuss or for more information.

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Risk Guide

SEPTEMBER 14, 2022

By Ben Norris for Commercial Risk. A Ukrainian risk manager told Commercial Risk’s latest event that now is the moment for insurance to prove its worth and help his country in its hour of need. Now we are in the moment where insurance must show its value and its support for business and the recovery.

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McKinsey and Company

OCTOBER 14, 2021

As economies emerge from the pandemic and plan for the next decade of growth, insurance companies need to rethink the strategic function of risk.

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Risk Guide

JANUARY 22, 2022

This is the longer version of an article I had published by Strategic Risk Magazine recently which can be found here: Strategic risk article. A few years ago I was asked by Strategic Risk Magazine to record a short video on what I would like to see change and improve in the Risk Management Profession.

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Everest Group

JULY 7, 2023

Embracing sustainability in the insurance industry is not just a choice, but a necessity for a resilient future. By integrating Environmental, Social, and Governance considerations into their practices, insurers can mitigate risks and foster long-term value for customers, shareholders, and the planet.

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Everest Group

MARCH 17, 2023

Managing General Agents (MGAs) and wholesalers are becoming increasingly relevant in the insurance ecosystem due to the unique advantages they have over brokers/agents. As insurance intermediaries that represent carriers, MGAs provide insurance products to retail agencies and insureds. Read on to learn more.

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Magellan Solutions

JULY 21, 2021

Different Types of Insurance Claims Outsourcing. Insurance claims outsourcing proves to be helpful for insurers worldwide. Insurance products and services are ever-changing in this specific niche. Yet services of insurance BPO remain consistent. Global insurers often outsource for the following reasons.

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Everest Group

MAY 19, 2022

With increased cyber attacks and data breaches post-pandemic, cyber insurance to protect against the rising digital threats is growing in demand. Cyber insurers can benefit by partnering with service providers to seize opportunities for growth and profitability in this fast-growing market. Read on to learn how. .

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McKinsey and Company

OCTOBER 20, 2022

The COVID-19 pandemic has exacerbated challenges for insurers in continental Europe. M&A deals with closed-book players can help insurers continue to create value.

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SIG Speaks

SEPTEMBER 17, 2021

SIG University Certified Third-Party Risk Management Professional (C3PRMP) program graduate Kyle Brown discusses the value proposition and responsibilities for the key players in an effective third-party risk management program. Each business unit owns the risks associated with the contracts they decide to enter into.

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Avasant

FEBRUARY 1, 2021

Covid Accelerates Digital Disruption And Innovative Business Models In The Insurance Sector. C hanging risk landscape s and worsening loss ratios are shifting the role of insurance companies from risk mitigation to risk prevention. Press Releases. Los Angeles, January, 2021.

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Magellan Solutions

SEPTEMBER 27, 2020

This is especially true for the insurance industry — an industry that relies greatly on its customer base. This is why good customer service in the insurance industry is important. . Insurance companies provide risk management plans through contracts. There are different types of insurance.

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McKinsey and Company

APRIL 25, 2022

In a fast-changing business environment, CEOs who prioritize a new, holistic risk management approach will add value to their organizations—and to their customers too.

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Risk Guide

AUGUST 12, 2022

By Liz Booth for Commercial Risk. A leading Ukrainian risk manager has told Commercial Risk Europe about some of the biggest challenges facing his profession as the Russian invasion continues. Rushkovskyi said insurance is also playing a critical role in keeping the country going. “ We need risk management 2.0

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Perficient Digital Transformation

DECEMBER 1, 2023

In various press releases, the Federal Deposit Insurance Corporation (FDIC) has highlighted that an estimated $16.3 billion of the total cost incurred from the failures of Silicon Valley Bank (SVB) and Signature Bank was designated for safeguarding uninsured depositors. Commencing with the first quarterly assessment period of 2024 (i.e.,

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Magellan Solutions

NOVEMBER 8, 2018

This is especially true for the insurance industry that relies greatly on their customer base. Because of this, customer service for the insurance industry is really important. Businesses from the insurance sector offer risk management plans in the form of insurance contracts. It is a people business.

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Redial

JULY 5, 2023

Typically, the objective is to meet vendor risk management requirements that customers may request surrounding security. ISO-9001 (International Organization for Standardization): ISO-9001 certification is a globally recognized quality management system standard.

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Everest Group

NOVEMBER 28, 2023

The Managing General Agent (MGA) sector is a bright spot in a turbulent insurance market. Technology investments and strategic partnerships will be key to redefining risk and driving innovation for these specialized insurance agents/brokers. The data provides a compelling sense that MGAs have a bright future ahead.

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Perficient Digital Transformation

APRIL 11, 2023

In our experience, the control environment and the identification and evaluation of risks are often non-IT risks and are usually documented best via a series of facilitated workshops run by risk management professionals and involving professionals from the front, back, and middle offices.

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IBM Services

JANUARY 16, 2024

What generative AI has done is open a new world of innovations that can help personalize financial planning and investment management. One example of this is in insurance. Learn more about hybrid cloud for financial services Trend: Cybersecurity risk management AI brings about more challenges, especially when it comes to cyber risks.

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IBM Services

DECEMBER 8, 2023

Risk transfer: Risk transfer involves passing the risk to a third party. This strategy shifts the risk from the organization onto another party; in many cases, the risk shifts to an insurance company. An example of this is obtaining an insurance policy to cover property damage or personal injury.

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IBM Services

MARCH 20, 2024

This is evident from emerging regulatory requirements and expectations in UK (Bank of England’s Critical Third-Party regime), Europe (Digital Operational Resilience Act)), Australia (APRA CPS-230 Operational Risk Management) and Canada (OSFI – Operational Resilience and Operational Risk Management), etc.

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McKinsey and Company

JANUARY 6, 2023

Underwriters can use granular trend-impact diagnostics on portfolios, recalibrated risk selection, and greater underwriting agility to adapt to the evolving and uncertain insurance market.

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Perficient Digital Transformation

FEBRUARY 15, 2024

These DFS500 amendments signal a crucial shift in the regulatory landscape, emphasizing the imperative for robust governance, risk management, and compliance frameworks across the financial industry.

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Perficient Digital Transformation

NOVEMBER 10, 2023

This being the first blog post in a series of blogs by Perficient’s Financial Services Risk Management and Regulatory Capabilities Center of Excellence (CoE), we will be investigating the deposit structures of non-client banks over time. Don’t hesitate to reach out and leverage our knowledge to make informed decisions.

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Perficient Digital Transformation

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence The announcement of significant amendments to the New York State Department of Financial Services (NYSDFS) regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector.

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SIG Speaks

MARCH 28, 2023

SIG University Certified Third-Party Risk Management Professional (C3PRMP) program graduate Elizabeth Marquez shares what she has found helps with managing third-party risk resources and how to apply these concepts. I must understand the risks of working with Third-Party Resources.

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Perficient Digital Transformation

AUGUST 16, 2023

Mr. Herndon named the Federal Deposit Insurance Corporation (“FDIC”) as receiver, allowing the FDIC to take control of the Heartland Tri-State’s operations. To speak to a Perficient consultant about RCSA or any of Perficient’s risk management and regulatory capabilities, click here.

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Everest Group

DECEMBER 14, 2022

Cyber Insurance Market: Carriers Navigating through a Changing Risk Landscape. Building a Resilient Supplier Cyber Risk Management Strategy. Our Thinking. Learn More. Cybersecurity: What You Need to Know to Find the Right Partner and Price. Learn More. Learn More.

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Velocity Global

NOVEMBER 14, 2022

A PEO is a B2B service company that allows its clients to outsource a range of employee management tasks, including: Employee benefits. Risk management. The PEO takes all the employees of their clients and pools them to help drive down rates on things like insurance, payroll, training, and risk. Recruiting.

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Perficient Digital Transformation

SEPTEMBER 16, 2022

The Federal Deposit Insurance Act. The Federal Reserve will require a firm, prior to engaging in crypto-asset-related activities, to have in place adequate systems, risk management, and controls so the new activities are practiced in a safe and sound manner that is compliant with applicable consumer protection statutes and regulations.

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