A.M. BestTV: Information Tsunami Powers Rise of Chief Risk Officers

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FOR IMMEDIATE RELEASE

OLDWICK - MAY 13, 2016 12:10 PM (EDT)
In this ^A.M.BestTV episode, attendees at the Ultimate Risk Solutions Conference in New York, NY said advances in technology, demands for more detailed reporting and mounting compliance requirements are elevating the role of chief risk officers in insurance organizations. Click on http://www.ambest.com/v.asp?v=urs516 to view the entire program.

The hot topic at this year’s conference was the evolving role of the chief risk officer.

“That role has evolved over time from being more compliance based and looking to make sure that the company is managing and identifying its risks,” said Paul Little, chief executive officer, Ultimate Risk Solutions LLC. “Now the chief risk officer is reporting to the board (of directors) in terms of identifying and explaining clearly the overall risk profile for the overall entity.” Little also believes that the chief risk officer has become a true business partner and is very proactive in understanding the risks, so that he or she can comply with regulatory capital standards.

David Wright, senior vice president, managing director, Beach & Associate, sees the chief risk officer’s role,” as a part of the technological evolution of the insurance business, (because) there are a lot more technological tools in the hands of insurance companies and you have to have someone to manage all those tools.”

Other people who appear in this episode include:

• Anya Kutsina, co-founder /executive director, global business development, Ultimate Risk Solutions LLC;


• Tom Passante, chief risk officer, Everest Re Group, Ltd.; and


• Valerio Scacco, actuary, senior manager, PwC Actuarial Services.

For full conference coverage including full-length interviews go to http://www.ambest.tv.

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^A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View ^A.M.BestTV episodes at http://www.ambest.tv .

A.M. Best is the world’s oldest and most authoritative insurance rating and information source.