Now for the good news:
Realising the competitive potential of reporting convergence

Close alignment between risk and finance functions is the bedrock of an economic approach. Achieving better alignment rests on the standardisation and simplification of the reporting, control, modelling, transactional and data elements of risk and finance, alongside enhanced efficiency through shared services and data warehousing.

As part of the operational manifestation of an economic approach, effective enterprise risk management (ERM) can help insurers develop consistent firm-wide procedures for risk identification, measurement and monitoring (‘informing the input’) and ensure that risk limits and controls reflect the risk appetite and overall strategic objectives of the business (‘enforcing economic behaviour’).

Now for the good news

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Contacts

Ian E Dilks: Global insurance leader; London; Tel: +44 (20) 7212 4658

Related publications

Called to account:
A survey of 2007 IFRS insurance reports

Does ERM matter?
Enterprise risk management in the insurance industry

Gearing up for Solvency II: Making Solvency II work for the business

Getting closer to the finish line: Insurance contracts accounting under IFRS

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