Early this summer, I shared an article discussing how important culture is to the success of a company’s risk management efforts and what executives can begin doing immediately to change it. The article originally appeared in The Demotech Difference, a journal targeting midsize property & casualty insurance firms.
Today’s post explores the second step in building a performance-focused risk management process: assessing the company’s needs for long-term success to ensure risk management practices and processes will work for its particular circumstances.
Although this article targets P&C insurers, many of the insights are applicable to any type of organization. Click the image below to access the pdf file (Adobe Acrobat required)
Building a Performance-Focused Risk Management Process Step #2: Identifying Need
What prompted your company to improve its risk management practices?
Every organization is unique in its needs and approach to ERM. To share your experience, please don’t hesitate to leave a comment below or join the conversation on LinkedIn.
If you are struggling with identifying your company’s specific need or any other part of building a performance-focused risk management process, reach out to me to discuss your specific situation today!
