Basics of Enterprise Risk Management
Risk management is not a subject that gives a product with clear price tag sold in the market such as life insurance, health insurance, general insurance, pensions etc. Such products…
Broadening risk management domain to understand tail risks better
Current focus on risk management The current focus of risk management process is managing around micro risks such as market risk, insurance risk, operational risk etc. to help optimize risk…
Risk Based Capital over Traditional Approach in Insurance Sector
Sonjai Kumar is a Risk Professional with 24 years of experience in Life Insurance Sector focusing on Insurance, Risk and Actuarial. He is currently working at Aviva India Life Insurance…
IMPLEMENTATION OF ENTERPRISE RISK MANAGEMENT – AS THE 2ND STEP TO DEAL WITH THE 2ND COHORT ISSUES OF RISK MANAGEMENT APPLICATIONS IN INDIAN LIFE INSURANCE SECTOR
1. Introduction : Last month, we have discussed on the various facets of Risk Management processes available and applicable in Indian Life Insurance Sector. Now the Indian Life Insurance sector…
UNDERSTANDING OF RISK MANAGEMENT PROCESSES APPLICABLE TO INDIAN LIFE INSURANCE SECTOR
1. Introduction: First of all we need to look at the how Risk Management Module presently involved in the processes presently functioning &/or adapted by Indian Life Insurance companies at…
Disaster Management
Disaster Management is the discipline of dealing with and avoiding risks. It is a discipline that involves preparing for disaster before it occurs and supporting and rebuilding…
Problems involved in Risk Financing through the use of contingency fund
Sometimes, some organizations desire to retain risks internally to cope up with large and unpredictable losses and charge them against operating costs. The idea is to…
Steps of formulating Risk Management Program in a corporate enterprise
Regardless of the type of companies and the type of management, it is highly desirable that there be an overall corporate risk philosophy is agreed upon and a set of…
Effective risk management, depends to a large extent, on the use of probability concepts.
Effective risk management truly depends to a large extent on the use of probability concepts. Particularly, probability concepts are used to estimate: (i)the average number of losses…
Risk Management Audit
Risk Management Audit refers to the process of assessing and analyzing the risk and suggesting the improvement measures to be adopted for better management of Risk.