The new environment will provide intuitive, enterprise-wide access to real-time risk intelligence, enabling decision-makers at every level of the organization - from risk analysts to the CEO - the opportunity to ask questions and get answers in real time, according to the vendor.
The firms have adopted a "unique" approach will provide exposure to sources of return traditionally available only to investors in hedge funds but with significantly lower fees and capital charges as well as greater transparency and liquidity.
Insurance chief risk officers are rising to greater prominence within their organizations as regulation and technological possibilities drive rapid evolution of risk quantification technology and techniques.
As the memory of the financial crisis begins to wane and firms’ new, improved risk management practices become operational, worldwide IT risk spending is slowing at a faster rate than previously expected.
Increased risk exposure to risk due to social media and channel proliferation, as well as a focus on data and analytics projects in the "big data" era, is raising the profile of the chief risk officer within the insurance enterprise, according to Ernst & Young.
By Susan Heavey and Alina Selyukh, Reuters | March 14, 2013
Corporate leaders from the
defense, technology, energy and banking industries told
President Barack Obama on Wednesday they agreed cyber attacks
were a top security threat but that they were looking for a
"light touch" from the government in response to the risk.
Linking Milliman’s MG-ALFA system with Conning’s GEMS Economic Scenario Generator will respond to regulators’ and raters increasing demand for stochastic modeling capabilities and foster a holistic approach to risk management.
The U.S. Department of Homeland
Security urged computer users on Tuesday to disable a common
networking technology feature, after researchers warned that
hackers could exploit flaws to gain access to tens of millions
of vulnerable devices.