The CRO Forum’s Emerging Risk Initiative, led by SCOR in 2016, publishes its 2016 Risk Radar update
The CRO Forum is a group of professional risk managers from the (re)insurance industry that focuses on developing and promoting industry best practices in risk management. Made up of Chief Risk Officers from large multinational insurance and reinsurance companies, including SCOR, it aims to represent the members' views on key risk management topics, including emerging risks. The CRO Forum’s Emerging Risks Initiative has published an updated Risk Radar every year since 2005.
This Risk Radar classifies each risk by its nature, determining its time horizon (significant impacts already seen in insurance claims, first significant impacts expected within 1 – 5 years, first significant impacts expected within 5 – 10 years), and its expected impact (small, medium or high).
Ruschlikon intensifies regional activity and technology focus
Ruschlikon, the global association of insurers, brokers and reinsurers, all committed to implementing e-administration in order to create an efficient and modern Market, announces intense activity in its Regional Implementation Groups with new operational relationships.
The Ruschlikon Steering Committee is supporting all new implementations, highlighting the tangible business benefits of e-administration as it did in the roadshow with the Bermudian insurance community in November 2016.
The North American Implementation Community is concentrating on the regional expansion of existing and new implementations. An introductory workshop was held in September, with the aim of informing new potential entrants about the benefits of Ruschlikon messaging and sharing the experiences of existing partner implementations.
Other market events are in preparation, in Europe and Asia in particular.
In the UK, the partnership with the LMG TOM program has been highly effective and has already led to concrete deliveries for a global and harmonized back-office.
The Ruschlikon community also comprises a full ecosystem of solution providers, which are helping all members with their implementations through specialized software and gateway applications. Two new solution providers have just been welcomed to the group, Docosoft and Deutsche Bank.
Finally, Ruschlikon is investigating how new technologies could improve business processes in the administration area. Blockchain has been operationally tested via a proof-of-concept for reinsurance accounts exchanged between brokers and reinsurers, developed by SCOR and ChainThat, a specialized blockchain startup.
Regis Delayat, chair of Ruschlikon and Senior Digital Advisor to the Chairman of SCOR, said “Ruschlikon is strengthening its footprint in all regions of the global (re)insurance market and is already achieving its two objectives: to increase exchanges within the community and to expand the community itself. Ruschlikon also plays a leadership role in terms of adopting innovation designed to optimize straight-through-processing and benefits for our member companies”.
Ruschlikon is the global community of insurers, brokers and reinsurers committed to implementing e-administration and driving an efficient and modern Market.
For more information, please go to www.ruschlikon.com and join our LinkedIn Group.
Scientific seminar at the Paris headquarters in March: “How will risk modelling shape the future of risk transfer?”
On March 9, 2017, SCOR will host a scientific seminar at its Paris headquarters entitled “How will risk modelling shape the future of risk transfer?”. The conference is organized by the SCOR Foundation in partnership with the Geneva Association.
The seminar, which will be attended by insurance and reinsurance professionals, academics, risk modelling specialists, and others from the risk universe, will include 4 panel discussions between 09:00 and 17:30, on the following topics:
- Challenges, opportunities and lessons learned from 25 years of developing and utilizing Catastrophe Risk Models
- Next generation risk models: approaches, opportunities, challenges
- Harnessing latest developments in weather/water/climate research, earth observations, forecasting for next generation of forward-looking risk models
- The role of Risk Modelling as an enabler to stimulate new sovereign and regional risk transfer.
To register, please contact email@example.com.
Click on the picture below for the full program
The CRO Forum’s Emerging Risk Initiative, led by SCOR in 2016, publishes a new Position Paper on Water Risks
Water risks constitute major challenges – both in terms of threats and opportunities – for society as a whole, and for the re/insurance industry. Yet, they are widely underestimated, disregarded or simply ignored.
With its new Position Paper on Water Risks, the Emerging Risks Initiative (ERI) of the Chief Risk Officer (CRO) Forum has aimed at synthesizing what water risks represent for the reinsurance industry in terms of scarcity, pollution, health, treatment, conflicts, regulatory and reputational risks.
Water risks are complex to assess. Such difficulty stems from the paradoxical nature of water: it is plentiful to many yet its scarcity affects hundreds of millions of people, it is both fossil and renewable, it is freely supplied by nature but its treatment, distribution and wastage have a cost.
This results in a global lack of preparation for future impacts and has implications for the re/insurance industry, as a majority of water risks represent externalities which are not properly priced or assessed.
SCOR salutes the recipient of the 2017 John S. Bickley Founder’s award, Georges Dionne
Georges Dionne, member of the Scientific Board of the SCOR Foundation for Science and the Board of SCOR Canada, has just been named as the recipient of this prestigious award for 2017.
The John S. Bickley Founder’s Award, instituted in 1972 and named in honor of the founder of the International Insurance Society, Dr. John S. Bickley, honors individuals who have made a significant and lasting contribution to insurance thought, products, practice or education. The Founder’s Award recipient is elected by the IIS Honors Committee, a body of senior insurance executives and leading academicians.
Georges Dionne, professor at HEC Montreal, Canada, will receive the 2017 Founder’s Award during the Global Insurance Forum, at the gala dinner due to be held on June 19th at the Park Plaza Westminster Bridge Hotel in London.
Denis Kessler, Chairman and CEO of SCOR, commends the award: “I would like to congratulate Georges Dionne on this very strong mark of recognition by the International Insurance Society. This award honors Georges Dionne’s work in the field of basic research, as well as his considerable contribution to the economics of uncertainty and of insurance. The SCOR group joins me in congratulating Georges, who is an excellent director on the board of SCOR Canada and one of the distinguished members of our SCOR Foundation for Science.”