Rating agencies and regulators have developed ERM frameworks, establishing principles and requirements that are continuing to evolve. Each insurance company is challenged to respond while developing systematic risk management practices, customized for its particular circumstances.
Conning’s “best practices” risk management framework for insurance companies is built on a foundation that combines our long experience with asset/liability analysis, our proprietary modeling tools and our insurance research and industry knowledge. We tailor our ERM services to support each client’s enterprise risk management process and needs. Although we work with clients in all aspects of risk management, our particular expertise is 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 assure 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:
- Underwriting cycle management
- Business mix analysis
- Business expansion plans
- Reinsurance impacts
- Catastrophe events
- Capital management and economic capital
- Economic and capital market fluctuations
- Strategic asset allocation
To learn more about Conning’s ERM services or other strategic advisory services, please contact us.