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FERMA Risk Management Benchmarking Survey 2014

FERMA Risk Management Benchmarking Survey 2014. SURVEY 2014 - OBJECTIVES. The FERMA Risk Management Benchmarking Survey 2014 is seeking to Benchmark the risk management practices in Europe Provide a tangible basis for reporting to senior management Track trends over time

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FERMA Risk Management Benchmarking Survey 2014

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  1. FERMA Risk Management Benchmarking Survey 2014

  2. SURVEY 2014 - OBJECTIVES • The FERMA Risk Management Benchmarking Survey 2014 is seeking to • Benchmark the risk management practices in Europe • Provide a tangible basis for reporting to senior management • Track trends over time • Set up a tool to serve as basis of current relevant knowledge. • To be the referenced survey developed by risk managers for risk managers in Europe • BUT ALSO…

  3. SURVEY 2014 - OBJECTIVES • PART 1 • Reinforce the understanding the positioning of the risk and insurance management role • Support the development of the risk and insurance management function • PART 2 • Identify the main priorities at FERMA to support members and risk and insurance management function • PART 3 • Compare and position their organization’s insurance program against a peer group to support and improve decision making

  4. SURVEY 2014 - BENEFITS • Results will be an internal tool for Risk Managers to convey ideas and/or to promote actions. It provides members with a clear view on risk and insurance management not only in their own country, but also to benchmark themselves against other countries. • At Seminar in Brussels(20 & 21 October2014): presentation of the results and discussion withpeers • A written reportwillbeissued to all participants

  5. STRUCTURE OF THE QUESTIONNAIRE 2014 • PART 1: PROFESSIONAL INSIGHT AND RISK MANAGEMENT PRACTICES • Benchmarking of risk governance (reporting tools and practices; roles and responsibilities of the risk and insurance professionals: competences; skills; scope of the risk management activity vs Internal Audit vs Internal Control; key players in the company; etc.) • Benchmarking of reporting lines and status (remuneration barometer; organizational aspects; governance; etc.) • Benchmarking of budget, number of headcounts, specific IT solutions, etc. • Education and professional background of EU risk managers; Communication to promote the function and report on risk and on the benefits of RM activity for the company/ Continuous training activities regarding new and emerging risk and new RM technics and tools.

  6. STRUCTURE OF THE QUESTIONNAIRE 2014 • PART 2: EUROPEAN MAP OF RISKS AND RISK PRIORITIES AND TRIGGERS • Benchmarking of critical risks at EU level (so called “FERMA Top 10 Risks”) • Identification of emerging risks • Identification of 2014 EU challenges /EU hot issues, FERMA lobbying activity: mandatory financial security, cybersecurity, Solvency II, etc. • Effectiveness of risk management system to mitigate risks identified; ERM programs implementation; specific programs for specific risks; etc.

  7. STRUCTURE OF THE QUESTIONNAIRE 2014 • PART 3: INSURANCE : EVOLUTION OF THE INSURANCE MARKET AND RISK MANAGERS’ EXPECTATIONS • Benchmarking of prices (premiums and broker remuneration) • Loss records (and uninsured losses)/ claims handling process • Identification of new products • Performance of the insurance market • Risks related to mergers & Acquisitions, Runoffs issues,

  8. KEY DATES

  9. Reasons to join FERMA in Brussels • Meet 350 risk professionals from across Europe. • FREE REGISTRATIONS for risk & insurance managers of FERMA • Discuss common issues with colleagues from your own industry. • Interactive sessions with EU stakeholders • Discover the latest results of the 2014 Benchmarking Survey • Come back with fresh ideas for adding value to your business! • Don’t miss FERMA 40th Anniversary Registrations opens April 2014

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