A3 - Call for more joined up thinking in risk management & insurance
Neil Campbell who leads Jardine Lloyd Thompson Limted's Risk Consulting Practice, told his workshop: "Joined up thinking is a term often bandied around in the risk management and insurance world. Unfortunately in many aspects of our industry, we continue to work in isolated silos. Most insurance companies and brokers are still divided into and managed by the most basic insurance coverage lines.
For JLT, working in a joined up way is a fundamental part of our culture. Linking advanced Enterprise Risk Management (ERM) thinking and outputs to the most effective design and execution of insurance-based financing programmes is indeed a happy marriage and a modern and logical development of how these two, up until now separate processes can be integrated and managed dynamically.
During the workshop Neil Campbell highlighted that "with the increasing recognition of Enterprise Risk Management as one of today's most important corporate governance and management tools, bespoke structured insurance programmes are again seen as valuable risk financing tools - insurance capital - to manage significant but sometimes non-core risks within a corporation".
A3 ERM and ART a Happy Marriage (Jardine Lloyd Thompson)