PUNE
P666
–
ENTERPRISE RISK MANAGEMENT (NON-LIFE)
Background:
The insurance industry all over the world is undergoing severe turbulence
mainly because risk landscape across countries has become highly dynamic,
interdependent, and vulnerable to broader exposure and greater severity. This
has led to the emergence of stringent regulations through Risk Based Capital (RBC),
Solvency II, Asset Liability Management and IFRS, etc. IAIS standard on
Enterprise Risk Management (ERM), RBC guidelines and Solvency II norms make it
mandatory for insurers to have advanced ERM initiatives under Own Risk Solvency
Assessment (ORSA). With rising CAT exposures coupled
with economic, financial, political, and technological risks, managing these
risks has become more challenging to the key stakeholders: insurers, reinsurers,
risk managers, brokers, customers, regulators, etc.
More importantly, Leaders in the today’s corporate world must be able
to identify and manage not only the core insurance business risks but also
proactively manage external risks originating from economic, environmental,
strategic, political, operational, and technological changes.
Objectives:
At the end of the programme participants will be able to understand and appreciate:
§
The Dynamics of Integrated ERM – including ISO
3100 & Updated COSO Framework
§
Own Risk Solvency Assessment (ORSA) and its
implications on General insurance companies
§
Development of Advanced Capital Model and Allocation
of Capital in accordance with the risk profile of company
§
Asset Liability Management (ALM)and its implications
on Market and Liquidly Risks.
§ Risk Mitigation Strategies including Reinsurance and ART mechanism to manage all the major risks comprehensively.
Contents:
§
Integrated ERM Concept under the changing market
scenario including Risk Based Solvency Capital
§
New updated COSO Principles and ERM Guidelines by
IAIS
§
Own Risk Solvency Assessment (ORSA) and its
implications on General insurance companies
§
ERM and Business Strategy; Integration of Risk
Models with the insurer’s business strategy and plan.
§
Assessment of Insurance Business Risks in the
context of RBC and ORSA guidelines
§
Development of Advanced Capital Model and Allocation
of Capital in accordance with the risk profile of company
§
Asset Liability Management (ALM)and its implications
on Market and Liquidly Risks
§
Investment Risks and Risk Mitigation Strategies
§
Management of Operational Risks including Cyber
Risks; Assessments and Mitigation Strategies including Data Retrieval and
Business Continuity Planning.
§
Social Media and Reputation Risk; Assessment and
Implications on Insurance Business
§ Rising Exposures of Emerging Risks including Catastrophic and Pandemic Risks; Assessment and Risk Mitigation Strategies, including Reinsurance and Alternative Risk Transfer Mechanism (ART) and Risk Pool.
Participants’
Profile:
Senior Executives / Officers (Scale IV and above from all Depts.) from
General Insurance / Reinsurance Companies in National and International Markets.
Duration:
3 Days
Dates:
03.11.2025
- 05.11.2025