Richard Cutcher is joined first by Julia Graham, Airmic’s Deputy CEO and Technical Director, to discuss the role of the risk professional and an integrated enterprise risk management approach.
“The Coronavirus exhibits an awful lot of the hallmarks of an emerging risk, because an emerging risk doesn’t have to be something that is new. But what it can be is a known, unknown,” Ms Graham says.
“So the first role of the risk manager is to use the information that you’ve got from the various systems that you use for horizon scanning, scenario modelling and access that information to infrom you as to your next steps.”
Airmic Talks was fortunate to be invited to attend the 21st Pandemic Planning Conference for Employers on 5 March and Richard sat down with James Lythe, Associate Director within Control Risks’ Crisis & Security Consulting Department (Europe and Africa), and Dr Anthony Renshaw, the Medical Director within Health Consulting in Europe for International SOS.
“There is so much information it is almost a distraction,” Dr Renshaw tells Airmic Talks. “So having access to credible, accurate and timely information is absolutely critical. That information source must be business focused because we’ve seen how complicated it can be to negotiate government websites where it is frankly impossible to find information occasionally.”
Mr Lythe adds: “We are seeing a lot of uncertainty and how do you manage uncertainty within an organisation. One way is to be transparent and honest about the uncertainty, and to base your decisions on values and make moral, ethical decisions. In a crisis situation, organisations are pushed hard on those values and this ia a great opportunity to look at what those values mean.”
The next Airmic Talks also features an interview with Iain Bell, Sales Director within the Major Risks Practice at Arthur J Gallagher. Mr Bell was one of the contributors to Airmic’s Supply Chain Guide, published in 2019, and he expanded on some of the conversations he is having with risk and insurance professionals concerning their supply chain.
The first episode of Airmic Talks, addressing the hardening insurance market, is already available on SoundCloud, iTunes, Spotify or any other podcast platform. The second episode was released on Sunday, 15 March.