BRUSSELS, 20-21 October www.ferma.eu

The Voice of European

Risk and Insurance

Managers

SEMINAR 2014 1

European Risk and Insurance Report

BRUSSELS, 20-21 October www.ferma.eu

Introduction

The journey

Another survey

But not just any survey!

The report is new

The report will add value and contribute to our profession

Today's objectives

Introductions

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The Old European Risk Manager

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The Old European Risk Manager

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The Risk Manager

Profile

• Strategist

• Advisor

• Leader

Professional

• Knowledge

• Skills

• Current

• Ethical

Programme

• Embedded

• Sustainable What does the risk manager look like in Europe?

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The Modern European Risk Manager

Typical profile

Gender

Age

Team dynamic

Central v local

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The Modern European Risk Manager

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Maturity of EU Risk Management

practices

Sebastien RIMBERT

Senior Manager

EY Advisory France

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Some grounds for satisfaction

A reporting at Top Management / Board level: => 84% of Risk management functions

=> 78% of Insurance management functions

… and a strong interaction with the Top Management / Board

=> 48% of Risk Managers present RM activities several times a year

Top 3 reporting lines

RM function IM function

CFO 22% 31%

Board of Directors 18% 12%

CEO 17% 12%

A widespread use of risk mapping

BRUSSELS, 20-21 October www.ferma.eu

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Some areas of improvement

Better integrate Risk Management in the decision making process

Improve relationships with key functions : strategy, investments, IT

(projects), HR, CSR

Improve use of IT/GRC tools

Use of IT/GRC tool

Risk quantification 43%

Risk mapping 47%

Monitoring of risk mitigation actions 47%

Risk reporting / Risk Dashboard 52%

BRUSSELS, 20-21 October www.ferma.eu

SEMINAR 2014 11

Some elements for reflexion

What is the « right »

size of the Risk and

Insurance functions at

Headquarter level?

What is the « right »

organisation for « risk

functions »?

BRUSSELS, 20-21 October www.ferma.eu

Areas for reflection

What is the right organisation for Risk functions?

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Embedding a risk culture in the

organisation

Kadidja Sinz

Regional Manager Continental Europe

Distribution & Network

XL Group

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Today’s R&IM major activities

expected to remain top priorities

Fully embedded activities today:

1.Insurance management and claims handling : insurable

loss prevention - 87% of respondents

2.Development of risk maps - 73%

3.Assistance to other functional areas in contract

negotiation, project management, acquisitions and

investments - 69%

4.Design and implementation of risk controls / prevention -

68%

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Trend:

BRUSSELS, 20-21 October www.ferma.eu

R&IM aligning closer to the business

at strategic and tactical levels

Main planned activites 2014/2015:

1. Development and embedding of business continuity

management - from 51% of respondents (« embedded

today ») to 77% (including « planned in 2014/15 »)

2.Alignment and integration of risk management as part of

business strategy - from 56 to 76%

3.Development and integration of risk culture across the

organization - from 55 to 75%

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Trend:

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The critical discipline of risk

mapping plays an important role in

most companies

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Broader training may be required to

get the R&IM function to the next

level

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Thanks for your support !