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Score Your Organization's Risk Maturity Across Ten Pillars
The first answer that Insurance company executives give to the question “How well do you manage risk?” will likely be “we do that for a living – of course we’re good at it.” But when you follow that up with, “Yes, but what are your capabilities for managing your risks, all of your risks?” the answer will usually be a lot less certain.
That’s why we developed the Insurance Risk Maturity Framework, powered by SRA Watchtower. A digital evaluation tool that enables Insurance Companies to identify their risk management maturity across ten pillars and compare it to the Board and Senior Management’s performance targets. It addresses the 20 Key Principles defined by COSO in their Enterprise Risk Management framework – Integrating with Strategy and Performance, and is customized and expanded for the Insurance industry. Now, Insurance companies have a framework to help them better understand their current capabilities, identify gaps in their processes and track their progress on their risk maturity journey.