Insight ERM Method
In a business, risk is like energy. It cannot be eliminated; it can only be transformed into a good or a bad outcome.
What is Insight ERM©?
A business method to identify, analyze and mitigate the risk associated to what the company buys (resources); does (activities), and sells (products and services).
Why is Insight ERM© different from other traditional methods?
- Uses a rational and systematic way to identify risk exposures by following company’s money.
- Provides an in-depth analysis of risk transfer activities like insurance purchasing, contractual risk transfer, hedging, and others.
- Brings the risk manager to the C-suite.
How does Insight ERM© help companies to mitigate their risk?
- Provides a systematic method to identify unforeseen events that may threaten the company’s financial position (Balance Sheet Exposures), and it’s profitability (Income Statement Exposures). RESOURCE RISK MODULE
- Incorporates the cost of risk to the decision to outsource or subcontract an activity. ACTIVITY RISK MODULE
- Highlights the importance of analyzing the exposures associated with risk mitigating activities like insurance purchasing, hedging, contractual transfer, claims management, and others. ACTIVITY RISK MODULE
- Shows how some company products (or services) may be “too risky” to sell (or provide). PRODUCT RISK MODULE
How to implement Insight ERM©?
- Collect information about company’s resources, activities and products
- Identify exposures associated to company’s resources, activities and products
- Analyze the impact of those exposures to company’s goals and objectives
- Mitigate resource, activity and product risks.
- Monitor current risk mitigating activities and identify new threats.
If you would like to learn more about how to implement Insight ERM© in your business, please CLICK HERE