Intelligent ERM: Evolving risk management

David Baxter and Phil Vermeulen ()
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David Baxter: Swiss Re, Postal: Mythenquai 50/60, PO Box, 8022 Zurich, Switzerland, http://www.swissre.com/
Phil Vermeulen: EY LLP, Postal: Maagplatz 1, CH-8010 Zürich, Switzerland, http://www.ey.com/

Journal of Financial Perspectives, 2013, vol. 1, issue 3, 19-27

Abstract: Enterprise Risk Management (ERM) is a familiar concept in management theory. However, sometimes its implementation can fall short of delivery on the potential benefits to the business. The need for effective ERM is becoming increasingly evident for companies that want to ensure that their practices are agile enough to respond intuitively to today’s environment. Implementing an enhanced, more intelligent risk management capability is exactly what global reinsurer, Swiss Re, has looked to do in a current and ongoing phase of work conducted in collaboration with EY. In this paper, we will present some of the initial findings from this program of work, some of the areas where enhancements to the existing risk management practice have added most value, as well as some of the more challenging aspects of implementing what is effectively a long-term strategy of cultural change across the business.

Keywords: Enterprise Risk Management; ERM; Insurance; Intelligent Risk Management; Risk Management; Swiss Re (search for similar items in EconPapers)
JEL-codes: G22 G32 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:ris:jofipe:0032

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