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IoT systems allow enterprises to make value-adding decisions in real time, with increased flexibility regarding their approach to efficiency, cost reduction and risk modification. IoT systems allow enterprises to make value-adding decisions in real time, with increased flexibility regarding their approach to efficiency, cost reduction and risk modification. (Photo: Shutterstock)

Technology has become ingrained in nearly all aspects of modern society. As it evolves over time, so too do the risks that come with it.

Businesses today need technology to compete with others and advance their product. To calculate the number of risks they may face, risk management professionals need to understand the company from top to bottom. Yet risk management processes are not keeping pace with technology’s associated risks, according to a new report by Marsh and RIMS.

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Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected]

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