1. A framework for Scenario Analysis, and how this can be put into practice.
Jenna Andrews, Operational Risk Manager at ORIC, will outline the key steps of scenario analysis; from the initial planning stages through to the final communication and socialisation of the output. Eddie McLaughlin, Chief Commercial Officer (EMEA) at Aon will then demonstrate how Airmic members can tailor this framework to achieve three very different aims; crisis management planning, insurance policy stress testing and strategic risk assessment.
2. Innovation – how can the insurance industry respond to the evolving risks of businesses?
Producing innovative solutions for the intangible risks of Airmic member companies is an ongoing challenge for the Insurance industry. Airmic will present a panel discussion looking at the specific challenges and consider how insureds and insurers can work together to understand the insured’s business and develop truly relevant cover. The panel will include Thomas Hoad - Tokio Marine Kiln, Adriano Lanzilotto – FM Global and Mike Jacobs – Dyson.
3. Board Engagement - framing the board’s risk conversation
Airmic through John Hurrell and Julia Graham have been working with the Chairman's Forum, CIMA and Alvares and Marsal to explore the needs of FTSE 250 chairmen and their boards in connection with their responsibilities for risk governance.
It was clear from the three breakfast meetings they attended that chairmen and their boards recognise the scale of their challenge and the need for support and expertise to help them understand the ramifications of their rapidly changing risk profiles.
Airmic shall be launching jointly a guidance piece aimed at boards in the autumn but will be previewing this for members at the conference. The key message is that there is a real need to support the board, and we hope that our members are given the opportunity to provide this support.
One of the recommendations is the use the 'Risk and the Business Model' tool we launched last year which, as the title suggests, gives boards an insight into how their rapidly changing business models can impact on the risk profile of the company
Employee benefits - what risk managers need to know to get engaged
High-performing companies have health, well-being and associated employee benefits at the heart of their strategic thinking. Employee benefits can help the company attract and retain talent - but these covers must be integrated into the overall business model and operate to the same professional standards and budgetary considerations as any other aspect of risk management or insurance. The right business insurance acts as a strategic enabler, underpinning companies' ambitions and allowing them to seize new opportunities. This session will address the increasing profile of the risk manager in the management of employee benefits, and how insurers and brokers are increasingly responsive and ready to support the risk manager's role. This session will be led by Willis Towers Watson and senior Airmic members, referencing a new Airmic guide to be published at the conference.