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Understanding and mitigating cyber risk: Where do risk managers start?

the_threat_from_cyber_riskIf you attended or read reports from the RIMS annual conference in Denver in April or the AIRMIC conference in Birmingham, England, a few weeks ago, it won’t come as news to you that risk managers are being exhorted to take greater ownership of cyber risk. I seem to be seeing more and more articles with headlines like “Risk managers urged to play greater role in cyber risk management.”

There seems to be a consensus building that managing cyber risk should no longer be the responsibility solely of information security and information technology teams. The cover story in Risk & Insurance’s April issue, “Cyber: The New CAT,” put this new reality bluntly and prominently, right below the headline: “In every industry and at every company size, cyber risk is a foundation-level exposure that every business must confront—one that must be viewed with the same gravity as a company’s property, liability or workers’ comp risks [emphasis added].”

Topics: cloud computing enterprise risk management exposure management

How a partnership lets our customers benefit from location analytics

Customers and colleagues alike often ask those of us on the Aon eSolutions Product Management team to explain why we sometimes partner with third-party software firms when we develop new capabilities. The answer almost always comes back to the concept of core competencies. Our expertise lies in risk, claims and safety software. It simply doesn’t make sense for us to develop—to take one actual example—our own business intelligence application; in the case of BI, we partner with IBM and integrate its market-leading Cognos BI tool into our RiskConsole risk management information system.

Location analytics is another example—specifically Intelligent Mapping, our geographic data visualization application. Here we partner with Esri, the undisputed leader in the geographic information systems (GIS) market to offer our customers a risk mapping tool that we believe is the best in the RMIS market.

Topics: reporting and data visualization intelligent risk mapping