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A Thought From RIMS 2016 - Strategic Risks

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The 2016 RIMS Conference provided quite a number of thought-provoking technical presentations.  Among the sessions was one on Strategic Risk and Analytics, presented by Soubhagha Prija, SVP & CRO for New York Power Authority and William Dehnert of Deloitte Advisory.

Topics: risk management Updates & Viewpoints Conferences

A Thought From RIMS 2016

I had the pleasure of attending a session at the RIMS Conference in San Diego last week, featuring old friends, Linda Conrad, Zurich Insurance Company Head of Strategic Business Risk and Tim Bundt, Chief Risk Officer at CBRE. Stephanie Welling from the CBRE ERM Team also featured prominently in the presentation. Their message was the correlation of risk factors between the World Economic Forum (WEF) Global Risks Report and the risk management programs at individual companies.

Topics: risk management Updates & Viewpoints Conferences

How software helps the risk manager with the insurance consolidation trend.

In a recent analysis published by Advisen, the issue of insurer consolidation is examined. This trend is not new, in fact, if we look over the last decade or two, you note an unsettling trend in consolidations in the insurance industry. First it was a consolidation among the large, global brokers. Gone are A&A, J&H and some of the other real global performers. As a risk manager, it became harder and harder to access a broker with a true global presence to help you manage a worldwide presence. Now, as Advisen points out, the consolidation is in the insurer space. This too isn’t new. In addition to the merger/acquisition process (St. Paul and Travelers, for example) there have been the high profile failures, like Home and Kemper.

Topics: risk management Updates & Viewpoints

Measuring the return on investment in a risk management information system

Before investing in a risk management information system (RMIS), estimating the return on investment (ROI) is an important step in the decision-making process. Whether it’s your first RMIS or you’re contemplating switching systems, the costs of these system can seem very high. Determining the ROI will help quantify the business case for the investment.

Topics: risk management ROI Updates & Viewpoints

The current (and looming) skilled-labor shortage: Why it's a risk management issue

This article by the Wall Street Journal's chief economics commentator, Greg Ip, set me to thinking about a risk that seems to become more real every day; however, it's a risk that is little understood and not often included in the risk inventories of companies in the United States. It has to do with the question of where we're going to get the skilled labor that we need in the next 20 years.

Topics: enterprise risk management Updates & Viewpoints

Going to National Workers’ Comp this week? Visit Ventiv at booth #523 in Las Vegas

The annual National Workers’ Compensation and Disability Conference started today, and I’m pleased to report that again this year Ventiv Technology has a strong presence at this important event. If you’ll be attending National Workers’ Comp this year, please visit us at booth #523.

Topics: Claims Administration Updates & Viewpoints Conferences

What I learned moderating a panel at Business Insurance’s Cyber Risk Summit 2015

On Monday, I had the honor of moderating the first breakout session at Business Insurance’s Cyber Risk Summit 2015 in San Francisco. More than 100 people (most of them risk managers) attended the session, which in this moderator’s humble opinion was an eye-opening look at cyber security and what risk managers need to know today about mitigating cyber risk. In this blog post, I’ll share the key points covered in the session and how they apply to risk, claims and safety managers.

Topics: cyber risk Updates & Viewpoints Conferences

Ventiv Experience Conference: Playing to Win

BLOG EDITOR'S NOTE: Ventiv Technology is excited to welcome Pat O'Neill as a new analyst and consultant in the risk-technology industry. We appreciate Pat coming to the annual Ventiv client conference—Experience 2015—in Chicago last week. We're pleased to cross-post Pat's thoughts, which he shared earlier this week as a long-form update on LinkedIn, here on the Ventiv 3SIXTY blog.

Topics: Updates & Viewpoints Conferences

Ready for the challenge!

I am writing  today at a very special time in Ventiv’s history.

Over the last 40 years we have established our company as a global leader in risk, safety and claims software solutions used by more than 550 enterprises and 270,000 people in 51 countries. In the last year alone we have accomplished extraordinary milestones, beginning with our spinoff from Aon. From there, we’ve enhanced our unique ability to address clients’ most pressing and complex issues, garnered multiple industry awards, expanded our global team with more than 50 key hires, and established our position in the marketplace behind the “Problem, Solved” campaign, which is raising awareness in the marketplace about our unique combination of purpose-built products and industry expertise.

I’m proud to have been a part of the journey. These successes not only prove that we have laid a strong foundation, but that Ventiv is ready to rise to the next level. And as we enter our next phase of global growth, I’m honored to lead the company as CEO.

In the coming months, you’ll see meaningful changes as we begin our new journey toward even bigger goals and opportunities. Most notably, I am pleased that Kathy Burns will still be an integral part of our future, as she is moving to the Ventiv board of directors. This is a natural progression for her, having led eSolutions through years of growth when we were Aon eSolutions; spearheading the sale of eSolutions to Symphony Technology Group; and creating and stabilizing Ventiv. As a board member Kathy will focus on growth opportunities including acquisitions, partnerships and channels. Additionally, this transition allows her to spend more time with her family after devoutly working and traveling for many years to get Ventiv to where it is today.

On behalf of the entire Ventiv Family, I want to say how grateful we are for Kathy’s leadership over the past nine years, and how excited we are that she will continue to play a meaningful role in our future.

As I begin my journey as CEO I am excited, eager, motivated and honored to work with our clients, our Ventiv colleagues, and the market. We will remain focused and committed to cultivating Ventiv’s employees and producing innovations that will continue to raise the bar in the market. 

In closing, I want to leave you with one of my favorite quotes from Jim Collins:





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Topics: Updates & Viewpoints

Successful Risk Managers In The USA

Successful risk managers in America can expect to earn a very good salary at the executive level. While the salary varies by years of experience and the size of the company, Salary.com reports that the median income of top company risk managers is somewhat over $180,000. Even the bottom 10 percent are expected to earn over $100,000. Meanwhile, top earners may enjoy an income that is close to $300,000. Considering how much a successful risk management program can save companies, it is no wonder that these top executives enjoy good compensation.

Topics: risk management Updates & Viewpoints