Assessing the Future of ERM Technology

For years, insurance industry experts have talked about enterprise risk management (ERM) programs and their expected results. But all the talk seems to have fallen on deaf ears, as results from a recent survey reveal that even more attention needs to be paid to ERM.

CSC, the American Council of Life Insurers (ACLI) and Towers Watson teamed up to survey ACLI members—large and small life and annuity carriers—on risk management practices. The research centered on identifying and sharing life insurance industry ERM best practices, and ways technology can help those carriers improve processes and get a clearer view of overall risk exposure. The companies then compiled the results into a report, “Is Your Organization at Risk? A Different Look at Enterprise Management."

While half (53%) of the respondents have largely adopted ERM concepts, and begun the establishment of ERM programs with varying levels of activity over the last 12 months, they feel there is plenty of room for improvement, partly through the use of technology...

INN: Assessing the Future of ERM Technology