Risk management pays off. Many corporations – public as well as private – can save substantial amounts by identifying risks and prioritising their efforts. This approach reduces their claims, places them at the forefront of developments and enables them to avert critical events or reduce their effects.
Tailored risk management programs
Nordisk Aktuarservice implements risk management programs designed for the particular corporation. Our experts will carry through a detailed risk measurement procedure for all projects. Identifying risks is absolutely essential, but quantifying them is the real challenge.
If a corporation cannot assess its risks and their financial impact, investing in for instance risk-reducing measures makes no sense. Has the money been well spent or wasted? And how to prioritise?
Risk management phases
Implementing a risk management program is typically a multi-phased process involving several aspects such as:
- Risk prioritisation
- Risk tolerance
- Setting up a risk committee and risk organization
- Risk assessment and analysis training and skills development
- Risk reporting and management
- Risk decision models