The value of risk and insurance management

14 July 2017

With the aim to understand the nature of transformation set to take place in the world and its impact on businesses, the risk landscape and the roles and responsibilities of those in the risk management profession, Airmic launched their largest ever survey in partnership with Longitude who possess world-class expertise in thought leadership and research. 

The survey report – A profession in transformation – is based on the responses of 152 risk managers at companies of varying sizes across a range of business sectors, as well as on a series of qualitative interviews. While the main report summarises the full findings of the research project, three deep-dive mini reports delve deeper into the three core themes within the main report. 

JLT Specialty has produced one of the mini reports – The value of risk and insurance management. Generally, risk and insurance managers find it challenging to articulate the value and strategic importance of insurance, and it is often treated as a tactical purchase with perhaps too much focus on price. Cost, savings and premium reductions sometimes take centre stage in conversations about the value of insurance rather than the quality of cover or how it can protect the long-term resilience of the company and its balance sheet.

This mini report provides an analysis of the views of risk and insurance managers on the insurance sector's contribution to business and articulates the value of insurance in the face of an evolving risk landscape. It also contains the solution to the challenge faced by risk managers in articulating the value of insurance to their businesses.

To read the full mini report, please visit the JLT Specialty website