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Risk and Capital Management

Risk and Capital Management

The global financial crisis has intensified the competitive, regulatory and stakeholder pressures on the insurance industry. The result: an increased scrutiny of insurers’ risk management practices, and their ability to manage capital and generate value.

Insurance companies are in the business of taking on risk. Effectively selecting and pricing these risks and those that are retained within the business, both individually and in aggregate, are critical capabilities. Insurers that rely solely on traditional risk management methods will find it difficult to thrive in today's volatile and complex environment, competing against insurers that are already taking a more sophisticated and aggressive approach to risk.

At Willis Towers Watson, we believe that an ERM program embedded within the business at all levels can help you understand, quantify and more effectively manage the totality of your organization’s risks. Our ERM framework sets out the key components of such a program, founded on the alignment of your organization’s risk appetite with your overall corporate strategy. Other key components include comprehensive risk-control processes, the integration of risk into key performance metrics, a clear risk governance framework and a positive risk culture. Robust and timely risk and capital modeling tools, based on reliable data sources, are critical to many aspects of the program.

If implemented properly, ERM can help insurers and reinsurers weather uncertain times while improving profitability and shareholder value.

Our capabilities include:

  • Risk Framework Design and Review
  • Risk Organization, Governance and Culture
  • Risk-Based Financial and Capital Management
  • Economic Capital and Internal Capital Models
  • Asset Risk Management and ALM
  • Insurance Risk Management
  • Operational Risk Management

Why Willis Towers Watson?

 

Our deep understanding of risk and our expertise in the insurance industry mean that we understand the specific issues facing insurers in implementing effective risk and capital management solutions. We are a leading provider of risk management services, working with our clients to provide compelling and practical solutions to both meet regulatory requirements and improve business performance.

Willis Towers Watson consults to more than 75% of the world’s leading insurers. We have an international community of risk practitioners with a global presence and wide range of risk management capabilities. In addition, we are a global leader in risk technology for the insurance industry, including risk and capital modeling tools. This provides us with the ability to seamlessly address risk needs across consulting, software and geographical requirements.

Learn more about Risk and Capital Management Contact Us

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