• Service: Advisory, Consulting, Risk Management, Financial Services
  • Industry: Insurance
  • Date: 11/15/2012

Enterprise Risk Management 

Insurance companies are confronted with a changing environment. Regulators tend to increase the standards of risk management and control systems and stakeholders try to optimize their requirements on return and the security of their investments. Hence, risk management becomes value-based through the incorporation in the corporate organization and processes. Enterprise risk management (ERM) should be considered with regards to the degree of maturity which is adequate for your company.
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The ERM Framework can be devided into Risk Governance, Risk Assessment, Risk Quantification and Aggregation, Risk Monitoring and Reporting as well as Risk and Control Optimization. These elements can be looked at at the three levels basic, mature and advanced. KPMG's approach includes four steps, namely plan assessment, assess current state risk profile, define target state and implementation road map and assess current state risk management process. Our approach bears a helping hand to understand gaps in current risk management, to identify value opportunities, to improve in business efficiency, to embed risk management and finally to understand the level of maturity.



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Risk Management

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Risk management has developed into a key activity within the corporate world.