While embedding enterprise risk management remains a challenge for insurers, large companies are further along, and those that are successful find ERM helpful in decision-making, according to a consulting firm survey.
The Towers Perrin report, "Embedding ERM--A Tough Nut To Crack," included many of the world's largest insurers, more than half with revenues higher than $1 billion and about 16 percent taking in more than $10 billion annually--representing both property-casualty and life insurance.
Prakash A. Shimpi, Towers Perrinpractice leader of ERM, told National Underwriter there has been a notable development in ERM and that those who have undertaken it are not "resting on their laurels."
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