Getting executive buy-in on risk
Occam Underwriting is featured in an Insurance Post magazine article ‘Balancing risk and reward at board level’. The article discusses how risk managers who believe that risk reporting and mitigation should no longer be an isolated item on the board agenda can get the executive buy-in to this way of thinking.
Eleanore Robinson’s article points out that the bridge between risk managers and board members is a crucial one when keeping up with the fast pace of legal, regulatory and commercial changes in their industry – but how do you ensure board members are up to speed?
Can risk experts see the bigger strategic picture?
He said: “The challenge is how you categorise the experts. They might be an expert in understanding the technical risk. For them to make the leap into how this fits into the wider operation of the business, it doesn’t really work, because their brain isn’t really wired that way.
“They are not plugged into the importance of the wider business strategy and how it is knitted together from business units and an operations perspective.”