Insurers and ERM: Clear About

The Why, Working On The How The recent benchmark survey on enterprise risk management (ERM) in the global insurance industry by Tillinghast-Towers Perrin makes clear that there is a growing and strong consensus among insurers concerning why they should adopt ERM. But the survey shows far less consensus concerning how to implement it. In addition, respondents said they are not satisfied with the means they have available to make ERM a practical reality.

In our view, insurers can successfully move from their clear understanding of why to an equally clear vision of how they can adopt ERM in their own organizations by going back to first principles and re-grounding their efforts in an ERM operational framework that is specific to their companies.

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