ABOUT THE BOOK
This book is a collection of articles written by the author, presented in a form of a book for readers to read all the relevant risk management topics at one place. The book presents key sections as Enterprise Risk Management, Financial and Operational Risk, Risk-Based Capital, Stress and Scenario Testing etc. As the Indian market is preparing for the risk-based capital, the book has few chapters on this. The book is written in a simple language for a non-risk person to understand easily.
The chapters can be read independently without reference to any previous chapter. The examples are drawn from the insurance sector, however, can be applied in many areas as risk management is a tool rather than a product. The first chapter starts with a very fundamental of risk management and takes the journey at a higher level.
PROFILE OF THE AUTHOR:
Mr. Sonjai Kumar is a passionate risk management professional, Certified Member of Institute of Risk Management, London. His passion for the risk management keeps him busy in creating awareness and knowledge for readers on the development of risk management subject at a global level. His intent is to create a strong risk community to serve the Corporate and the Government on risk reduction as a proactive approach rather than a reactive approach leading to the crisis management.
He has written several articles in different magazines, spoken at different conferences in India and abroad and has written many research papers. All this work comes out of his hobby apart from his regular day work in the insurance sector for last 24 years.
Important topics covered in the book
Section-1 : Basic Risk Management
a) Risk Management from Game of Chance to Insurance Business
Section-2 : Enterprise Risk Management
a) Enterprise Risk Management (ERM)
b) Importance of Enterprise Risk Management in Life Insurance Sector
Section-3 : Risk Culture
a) Current Risk Management Position in India
b) Lessons from Global Financial Crisis on failure of Risk Management
c) Risk Culture Essential for Effective Development of Enterprise Risk Management
Section-4 : Financial Risk
a) Assets and Liability Management in Indian Context
b) Liquidity Risk in Life Insurance
c) Assets and Liability Management in Life Insurance
Section-5 : Strategic Risk
a) Importance of Strategic Risk Management in Corporate Success
Section-6 : Operational Risk
a) Operational Risk Management
Section-7 : Risk Based capital
a) Risk Based Capital – Issues and Opportunities
b) Moving towards RBC
c) Risk Based Capital over Traditional Approach in Insurance Sector
d) RBC in the Indian Insurance Industry
e) Risk Based Capital in Insurance Sector
Section-8 : Application
a) Application of Stress Testing
b) Broadening Risk Management domain understand tail Risks better
c) Impact on Indian Life Insurance Players in the Presence of Global Risks
d) Underwriting and Claims Management : A Risk Mitigation Tool for Mortality Risk
e) Is extreme event predictable
