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Risk management can’t afford to ignore the “data dividend”; get started with the Ventiv/Aon guide to making use of analytics in risk management

According to an Airmic report from summer 2017, “More than a third of risk managers (35%) say that their use of analytics tools today is limited, but within three years, more than half of risk managers (56%) expect to be using data analytics extensively in their roles.” Ventiv is committed to helping risk managers move from the status quo—limited use of analytics tools—into an analytics-centric future. That’s why we partnered with Aon Risk Solutions to produce a white paper called “Driving the Data Dividend. Making Use of Analytics in Risk Management.” Produced specially for Airmic members, we’re delighted to make this paper available to a wider audience.

Topics: risk management 2018.10 redesign Analytics, Reporting & Data Visualization data management

5 things your software vendor should be doing to support your company’s data-governance priorities

Data-privacy laws like the General Data Protection Regulation (GDPR) not only require your business to be compliant; they also require your company to ensure that the suppliers and partners who manage your data are compliant as well.

Technology vendors, like Ventiv, are classed as data processors when they hold or have access to your data. It is this classification that means they are subject to data protection rules, just as organizations that collect data are.

Topics: Data Security & Cyber Risk risk management GDPR & Data Governance

The business case for applying GDPR-level data governance across regions

The European Union’s General Data Protection Regulation (GDPR) is upon us, becoming enforceable on May 25, 2018. It’s no exaggeration to say that achieving compliance (as well as being able to demonstrate compliance) requires that companies make a fundamental shift in how they approach data governance. Companies worldwide are struggling with the magnitude and scope of the GDPR; however, those that get data governance right can reap significant benefits.

Topics: Data Security & Cyber Risk risk management GDPR & Data Governance

What should risk, insurance, claims, and safety leaders be doing to prepare for GDPR?

The European Union’s sweeping new privacy law—the General Data Protection Regulation, or GDPR—is the farthest-reaching data privacy law in the world. It becomes enforceable on May 25, 2018.

Topics: Data Security & Cyber Risk risk management GDPR & Data Governance 2018.10 redesign

Now is the time to manage your cyber risk

Over the last several years, the increasing sophistication of cyber attacks has left the risk management industry at something of a loss as to how to keep up. The types of attacks and hacks might continue to change, but businesses are slowly coming to grips with their vulnerabilities and putting cyber risk at the top of the agenda. The challenge now is implementing solutions as part of the risk management plan.

Topics: Data Security & Cyber Risk risk management

What does the future hold for Risk Managers?

In today’s global economy, where many small and large organizations work across many countries, risk management has become far more complex.

Topics: risk management

Risk management should support, not stifle, company culture

Each business has its own risk priorities. This could be anything from social media, cyber security and terrorism to internal strategies, new technology and competition. Some will be short term and others will focus on future planning.

Topics: risk management

2017 in review – ERM is on the rise, but there’s still room for improvement

As businesses start to implement their plans for a new year, we’ve taken a look back at 2017 to review how the handling and perception of risk management has changed. From our team’s vast experience of working with our clients and other organisations in the industry, we’ve found overall that there is a rise in the understanding, and use of formal risk practices. However, as always, there is still room for improvement. 

Topics: risk management enterprise risk management risk management software

Want to know the future of risk technology? Look at the key trends happening today

This blog is cross-posted from the Commercial Risk Europe FERMA Forum daily newspaper (registration required).

Making the best possible use of new and emerging technology, including enterprise software, is vitally important for almost any organization. In our hypercompetitive, ever-evolving global economy, few companies can afford to become complacent when it comes to how they choose their software and what they expect from it. This applies to the discipline of risk management just as it applies to, say, operations, finance, logistics, or any other corporate function. As risk managers look to technology to help them adapt to turbulent times, what should they be looking for in their risk software?

Topics: risk management risk management software

How risk, claims and safety software could have saved Jurassic Park

In honor of the 24th anniversary of the movie Jurassic Park’s release in June of 1993, this is a great time to engage in a little “what if” thinking and imagine how risk, safety and claims software solutions could have saved John Hammonds’ incredible vision.

Topics: risk management enterprise risk management Safety Management & Risk Control Claims Administration