Rating agencies and regulators have developed enterprise risk management (ERM) frameworks with specific principles and requirements that continue to evolve. Each insurance company is challenged to respond appropriately while developing systematic risk management practices customized for its particular circumstances.
Conning’s risk management framework for insurance companies is built on a foundation that draws from our extensive experience with asset/liability analysis, sophisticated risk modeling tools and industry expertise. We tailor our services to support each client’s enterprise risk management process and specific needs. Although we work with clients in all aspects of risk management, our main areas of expertise are in risk and opportunity identification and in quantification and impact analysis for assessing risks and risk mitigation solutions.
Conning’s ERM Framework and Stages
We work with companies to:
- Identify risks and risk drivers
- Help define enterprise risk tolerance and individual risk volatility parameters
- Build a financial model for integrated asset/liability testing
- Provide a scenario generator for randomized stochastic modeling
- Generate financial statements, capital ratios and other financial risk metrics using U.S. STAT, U.S. GAAP, IFRS, tax and economic value measurements
We help ensure our clients have the right processes and tools in place to effectively manage enterprise risks and communicate with key stakeholders, such as boards of directors, rating agencies and regulators.
Our clients are prepared to tackle their toughest risk management issues, including:
To learn more about Conning’s ERM services or other strategic advisory services and risk modeling systems, please contact us.