European Risk and Insurance Report In collaboration 1 with : - - PowerPoint PPT Presentation
FERMA RISK MANAGEMENT BENCHMARKING SURVEY 2014 European Risk and Insurance Report In collaboration 1 with : Presentation of the survey: 7th biennal benchmarking survey conducted by the Federation of European Risk Management Associations
In collaboration with :
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The survey was divided in 4 parts : Introduction: from S0 to Q8
Benchmark the risk management practices in Europe Provide a tangible basis for reporting to senior management Track trends over time Set up a tool to serve as basis of current relevant knowledge To be the referenced survey developed by risk managers for risk managers in Europe
European insights on risk management practices: from Q9 to Q16
Reinforce the understanding of the positioning of the risk and insurance management role Support the development of the risk and insurance management function
European perspective: from Q17 to Q29 Identify the main priorities at FERMA level to support members and risk and insurance management function Insurance: Evolution of the Insurance Market and Risk Managers’ Expectations: from Q30 to Q39 Compare and position their organization’s insurance program against a organization group to support and improve decision making 4
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ASSOCIATION Complete Incomplete Total respondents Total invited Complete Rate (Complete / Total invited) Target Rate (Complete / Target) Response Rate (Total respondents / Total invited) Target 2014
AGERS 19 10 29 50 38,0% 70,4% 58,0% 27 AIRMIC 79
84
163 1 058 7,5% 52,7% 15,4% 150 ALRIM 1
3
4 9 11,1% 16,7% 44,4% 6 AMRAE 81
73
154 610 13,3% 54,0% 25,2% 150 ANRA 36
15
51 110 32,7% 52,9% 46,4% 68 APOGERIS 8
5
13 50 16,0% 29,6% 26,0% 27 ASPAR
1 4
5 16 6,3% 10,0% 31,3% 10 BELRIM 32
24
56 93 34,4% 58,2% 60,2% 55 BFV-DVS 42
38
80 143 29,4% 52,5% 55,9% 80 DARIM 42
8
50 68 61,8% 100,0% 73,5% 42 ERMA 13
1
14 36 36,1% 65,0% 38,9% 20 FINNRIMA 21
16
37 95 22,1% 38,2% 38,9% 55 IGREA 11
5
16 33 33,3% 55,0% 48,5% 20 MARM 8
7
15 34 23,5% 40,0% 44,1% 20 NARIM 33
26
59 157 21,0% 41,3% 37,6% 80 NORIMA 11
7
18 48 22,9% 40,7% 37,5% 27 POLRISK 24
16
40 93 25,8% 51,1% 43,0% 47 RUSRISK 19
4
23 55 34,5% 70,4% 41,8% 27 SI.RISK 9
1
10 13 69,2% 112,5% 76,9% 8 SIRM 26
14
40 75 34,7% 57,8% 53,3% 45 SWERMA 43
29
72 186 23,1% 45,3% 38,7% 95 PARTNER AXA Corporate Solutions- FR 10 17 27 146 6,8% 18,5% AXA Corporate Solutions- DE 22 43 65 182 12,1% 35,7% AXA Corporate Solutions-SP 6 4 10 25 24,0% 40,0% AXA Corporate Solutions-UK 8 19 27 193 4,1% 14,0% AXA Corporate Solutions-BE 12 13 25 70 17,1% 35,7% EY 1 1 1 0,0% 100,0% XL Group
3 2
5
8
37,5% 62,5% Zurich Insurance
N/A
N/A
N/A
Marsh- Poland
2
2
200
0,0% 1,0% Marsh- Romania
7 22
29
200
3,5% 14,5% Others
5 3
8
11
45,5% 72,7% Total National Associations
559 390 949 3 032
18,4% 52,8% 31,3%
1 059
TOTAL
632 516 1 148 4 068
15,5% 28,2%
1 059
A respondent is considered complete if his status is complete for all the parts
questionnaire .
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A respondent is considered complete for the introduction part if he/she has answered for all the questions of the introduction part.
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ASSOCIATION
Complete Incomplete Total respondents Total invited Complete Rate (Complete / Total invited) Response Rate (Total respondents / Total invited)
AGERS 24 5 29 50 48,0% 58,0% AIRMIC 127
36
163 1 058 12,0% 15,4% ALRIM 2
2
4 9 22,2% 44,4% AMRAE 116
38
154 610 19,0% 25,2% ANRA 43
8
51 110 39,1% 46,4% APOGERIS 9
4
13 50 18,0% 26,0% ASPAR
2 3
5 16 12,5% 31,3% BELRIM 43
13
56 93 46,2% 60,2% BFV-DVS 57
23
80 143 39,9% 55,9% DARIM 44
6
50 68 64,7% 73,5% ERMA 14 14 36 38,9% 38,9% FINNRIMA 23
14
37 95 24,2% 38,9% IGREA 15
1
16 33 45,5% 48,5% MARM 11
4
15 34 32,4% 44,1% NARIM 45
14
59 157 28,7% 37,6% NORIMA 12
6
18 48 25,0% 37,5% POLRISK 29
11
40 93 31,2% 43,0% RUSRISK 19
4
23 55 34,5% 41,8% SI.RISK 10 10 13 76,9% 76,9% SIRM 33
7
40 75 44,0% 53,3% SWERMA 58
14
72 186 31,2% 38,7% PARTNER AXA Corporate Solutions- FR 14 13 27 146 9,6% 18,5% AXA Corporate Solutions- DE 37 28 65 182 20,3% 35,7% AXA Corporate Solutions-SP 8 2 10 25 32,0% 40,0% AXA Corporate Solutions-UK 14 13 27 193 7,3% 14,0% AXA Corporate Solutions-BE 17 8 25 70 24,3% 35,7% EY 1 1 1 100,0% 100,0% XL Group
4 1
5
8
50,0% 62,5% Zurich Insurance
N/A
N/A
N/A
Marsh- Poland
2
2
200
0,0% 1,0% Marsh- Romania
12 17
29
200
6,0% 14,5% Others
7 1
8
11
63,6% 72,7% Total National Associations
736 213 949 3 032
24,3% 31,3% TOTAL
850 298 1 148 4 068
20,9% 28,2%
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A respondent is considered complete for the 1st part if he/she has answered for all the questions of the 1st part.
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ASSOCIATION
Complete Incomplete Total respondents Total invited Complete Rate (Complete / Total invited) Response Rate (Total respondents / Total invited)
AGERS 21 8 29 50 42,0% 58,0% AIRMIC 96
67
163 1 058 9,1% 15,4% ALRIM 1
3
4 9 11,1% 44,4% AMRAE 93
61
154 610 15,2% 25,2% ANRA 38
13
51 110 34,5% 46,4% APOGERIS 6
7
13 50 12,0% 26,0% ASPAR
1 4
5 16 6,3% 31,3% BELRIM 35
21
56 93 37,6% 60,2% BFV-DVS 48
32
80 143 33,6% 55,9% DARIM 41
9
50 68 60,3% 73,5% ERMA 12
2
14 36 33,3% 38,9% FINNRIMA 22
15
37 95 23,2% 38,9% IGREA 13
3
16 33 39,4% 48,5% MARM 7
8
15 34 20,6% 44,1% NARIM 39
20
59 157 24,8% 37,6% NORIMA 10
8
18 48 20,8% 37,5% POLRISK 21
19
40 93 22,6% 43,0% RUSRISK 13
10
23 55 23,6% 41,8% SI.RISK 9
1
10 13 69,2% 76,9% SIRM 30
10
40 75 40,0% 53,3% SWERMA 49
23
72 186 26,3% 38,7% PARTNER AXA Corporate Solutions- FR 11 16 27 146 7,5% 18,5% AXA Corporate Solutions- DE 21 44 65 182 11,5% 35,7% AXA Corporate Solutions-SP 5 5 10 25 20,0% 40,0% AXA Corporate Solutions-UK 9 18 27 193 4,7% 14,0% AXA Corporate Solutions-BE 13 12 25 70 18,6% 35,7% EY 1 1 1 0,0% 100,0% XL Group
3 2
5
8
37,5% 62,5% Zurich Insurance
N/A
N/A
N/A
Marsh- Poland
2
2
200
0,0% 1,0% Marsh- Romania
7 22
29
200
3,5% 14,5% Others
7 1
8
11
63,6% 72,7% Total National Associations
605 344 949 3 032
20,0% 31,3% TOTAL
681 467 1 148 4 068
16,7% 28,2%
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A respondent is considered complete for the 2nd part if he/she has answered for all the questions of the 2nd part.
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ASSOCIATION
Complete Incomplete Total respondents Total invited Complete Rate (Complete / Total invited) Response Rate (Total respondents / Total invited)
AGERS 9 20 29 50 18,0% 58,0% AIRMIC 39
124
163 1 058 3,7% 15,4% ALRIM
4
4 9 0,0% 44,4% AMRAE 55
99
154 610 9,0% 25,2% ANRA 14
37
51 110 12,7% 46,4% APOGERIS 3
10
13 50 6,0% 26,0% ASPAR
5
5 16 0,0% 31,3% BELRIM 17
39
56 93 18,3% 60,2% BFV-DVS 12
68
80 143 8,4% 55,9% DARIM 23
27
50 68 33,8% 73,5% ERMA 11
3
14 36 30,6% 38,9% FINNRIMA 15
22
37 95 15,8% 38,9% IGREA 6
10
16 33 18,2% 48,5% MARM 6
9
15 34 17,6% 44,1% NARIM 13
46
59 157 8,3% 37,6% NORIMA 1
17
18 48 2,1% 37,5% POLRISK 15
25
40 93 16,1% 43,0% RUSRISK 7
16
23 55 12,7% 41,8% SI.RISK 7
3
10 13 53,8% 76,9% SIRM 16
24
40 75 21,3% 53,3% SWERMA 16
56
72 186 8,6% 38,7% PARTNER AXA Corporate Solutions- FR 6 21 27 146 4,1% 18,5% AXA Corporate Solutions- DE 6 59 65 182 3,3% 35,7% AXA Corporate Solutions-SP 4 6 10 25 16,0% 40,0% AXA Corporate Solutions-UK 2 25 27 193 1,0% 14,0% AXA Corporate Solutions-BE 3 22 25 70 4,3% 35,7% EY 1 1 1 0,0% 100,0% XL Group
3 2
5
8
37,5% 62,5% Zurich Insurance
N/A
N/A
N/A
Marsh- Poland
2
2
200
0,0% 1,0% Marsh- Romania
2 27
29
200
1,0% 14,5% Others
4 4
8
11
36,4% 72,7% Total National Associations
285 664 949 3 032
9,4% 31,3% TOTAL
315 833 1 148 4 068
7,7% 28,2%
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A respondent is considered complete for the 3rd part if he/she has answered for all the questions of the 3nd part.
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ASSOCIATION
Complete Incomplete Total respondents Total invited Complete Rate (Complete / Total invited) Response Rate (Total respondents / Total invited)
AGERS 11 18 29 50 22,0% 58,0% AIRMIC 61
102
163 1 058 5,8% 15,4% ALRIM
4
4 9 0,0% 44,4% AMRAE 48
106
154 610 7,9% 25,2% ANRA 25
26
51 110 22,7% 46,4% APOGERIS 3
10
13 50 6,0% 26,0% ASPAR
1 4
5 16 6,3% 31,3% BELRIM 26
30
56 93 28,0% 60,2% BFV-DVS 37
43
80 143 25,9% 55,9% DARIM 24
26
50 68 35,3% 73,5% ERMA 6
8
14 36 16,7% 38,9% FINNRIMA 11
26
37 95 11,6% 38,9% IGREA 9
7
16 33 27,3% 48,5% MARM 5
10
15 34 14,7% 44,1% NARIM 32
27
59 157 20,4% 37,6% NORIMA 6
12
18 48 12,5% 37,5% POLRISK 9
31
40 93 9,7% 43,0% RUSRISK 5
18
23 55 9,1% 41,8% SI.RISK 5
5
10 13 38,5% 76,9% SIRM 25
15
40 75 33,3% 53,3% SWERMA 28
44
72 186 15,1% 38,7% PARTNER AXA Corporate Solutions- FR 7 20 27 146 4,8% 18,5% AXA Corporate Solutions- DE 15 50 65 182 8,2% 35,7% AXA Corporate Solutions-SP 5 5 10 25 20,0% 40,0% AXA Corporate Solutions-UK 7 20 27 193 3,6% 14,0% AXA Corporate Solutions-BE 11 14 25 70 15,7% 35,7% EY 1 1 1 0,0% 100,0% XL Group
3 2
5
8
37,5% 62,5% Zurich Insurance
N/A
N/A
N/A
Marsh- Poland
2
2
200
0,0% 1,0% Marsh- Romania
2 27
29
200
1,0% 14,5% Others
3 5
8
11
27,3% 72,7% Total National Associations
377 572 949 3 032
12,4% 31,3% TOTAL
430 718 1 148 4 068
10,6% 28,2%
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Introduction European insights on risk management practices European perspective Evolution of the Insurance Market and Risk Managers’ Expectations
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In collaboration with :
Introduction European insights on risk management practices European perspective Evolution of the Insurance Market and Risk Managers’ Expectations
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Female 27% Male 73%
S1: Are you? Basis: 850 0,1% 3,4% 7,2% 31,3% 37,8% 12,9% 7,3%
Less than 25 years old Between 25 and 30 years
Between 31 and 35 years
Between 36 and 45 years
Between 46 and 55 years
Between 56 and 60 years
60+ years old
S2 - What is your age ?
12
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Basis: 850 18% 17% 18% 12% 15% 11% 9%
Less than €60 Between €60 - €80 Between €81 - €100 Between €101 - €120 Between €121 - €150 Between €151 - €200 More than €200
S3 - What is your total annual remuneration (including bonus and all compensations) (in thousands €) ?
13
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Manufacturing 18% Energy / utilities 15% Technology and Telecoms 8% Transportation / logistics 8% Banking and Financial Services 7% Public sector and non-profit 5% Insurance 5% Professional and Business Services 5% Retail 5% Automotive 4% Food and Beverages 4% Pharmaceuticals and Life Sciences 3% Other 13%
Basis: 850
14
Other 106 12,47% Consumer Goods 25 2,94% Government Contracting 24 2,82% Real Estate 20 2,35% Mining 15 1,76% Healthcare 8 0,94% Sports, Media and Entertainment 8 0,94% Hospitality and Leisure 6 0,71%
In collaboration with :
No opinion / Don't know Less than €100 million Between €100 million and less than €500 million Between €500 million and less than €1 billion Between €1 billion and €5 billion More than €5 billion
No opinion / Don't know Less than 1000 Between 1000 and 5,000 Between 5,001 and 10,000 Between 10,001 and 20,000 More than 20,000
Basis: 850
15
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No opinion / Don't know Negative Between 0 and 2.5% Between 2.6 and 4% Between 4.1 and 6.5% Between 6.6 and 7.5% Between 7.6 and 10% Between 10.1% and 20% More than 20%
Basis: 850
16
In collaboration with :
Latin America Africa Middle East Asia / Pacific North America Europe
Latin America Middle East Africa North America Asia / Pacific Europe
Basis: 850
17
In collaboration with :
0,0% 0,1% 0,2% 0,2% 0,2% 0,4% 0,5% 6,5% 6,7% 85,2%
Don't know Invalid Production/production site Insurance services Central services Financial services Other National/ Country Organization Division OR Regional Organization Corporate (Head Office)
Basis: 850
18
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Yes 51% No 48% No opinion / Don't know 1% Basis: 850
19
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Q5.3 - My organization is a member of one of the following Risk Management associations : (Multiple Answer)
0% 0% 0% 0% 0% 0% 1% 1% 1% 1% 1% 2% 2% 2% 2% 3% 3% 4% 4% 5% 5% 5% 6% 7% 7% 7% 14% 16% 16%
Don't know Invalid IRM PARIMA ASPAR CZ, Czech Republic ALRIM, Luxembourg Other APOGERIS, Portugal SI.RISK, Slovenia MARM, Malta ERMA, Turkey NORIMA, Norway RUSRISK, Russia FINNRIMA, Finland IGREA, Spain POLRISK, Poland AGERS, Spain RIMS, United States ANRA, Italy SIRM, Switzerland BFV, Germany DARIM, Denmark BELRIM, Belgium SWERMA, Sweden DVS, Germany NARIM, Netherlands None AIRMIC, UK AMRAE, France
Basis: 850
20
In collaboration with :
0,0% 0,0% 0,1% 0,1% 0,1% 0,2% 0,2% 0,4% 0,5% 0,5% 0,5% 0,5% 0,7% 0,7% 0,9% 1,1% 1,6% 1,8% 2,4% 2,5% 2,9% 3,3% 4,2% 5,2% 12,5% 58,1%
Security Manager Don't know Fraud Control Corporate Development Manager Invalid Claims Manager Procurement Manager University teacher Chief Operating Officer Manager (health and safety manager) Head of Compliance / Compliance… Consultant President, Chairman General / Company Secretary Captive manager Business Continuity Manager Chief Financial Officer / Finance… Head of Treasury / Treasury manager Legal Counsel / Head of Legal… Head of Internal Audit / Audit Manager Chief Executive Officer / Managing… Other Risk Manager/officer/advisor Insurance Manager Chief Risk Officer /Head of Risk Risk and Insurance manager
Basis: 850
21
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Q5.2 - Where is your specific qualification in Risk Management or Insurance from ? (Multiple Answer) Q5.1ter - Do you have a specific qualification in Risk or Insurance Management ?
0,0% 0,0% 0,2% 0,2% 0,2% 0,2% 0,4% 0,6% 0,6% 0,6% 1,0% 1,0% 1,0% 1,5% 1,7% 1,9% 3,1% 3,8% 6,0% 9,0% 25,2% 30,8% 35,6%
French National School of Insurance… Don't know BCI Banking industry CRISC CIA IVASS CRMA CINEAS Invalid Broker/Broker Education FCI/FCII Nibe SVV Specialist courses Qualification as insurance… Institute of Internal Auditors (IIA) Industry/on the job experience Institute of Risk Management (IRM) Chartered Insurance Institute (CII, ACII) Other Business School A national risk management… University
Basis: 480 Basis: 850
22 Yes on Q5.1ter only
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Q5.5 - What job(s) did you do before your current role ? (Multiple Answer) Q5.4 - How long have you been in this role ? Less than 3 years 25% Between 3 and 10 years 49% More than 10 years 26%
0,0% 0,0% 0,2% 0,2% 0,2% 0,2% 0,2% 0,2% 0,2% 0,2% 0,2% 0,2% 0,3% 0,3% 0,3% 0,5% 0,7% 0,9% 1,2% 1,4% 1,9% 2,1% 2,1% 2,3% 2,4% 4,0% 4,5% 5,9% 6,1% 68,1%
Commercial Security Officer Acquisitions Economist Energy Human ressources Marketing Pensions Politics Risk consulting Statistician Tax Business analyst Customer Relations IT Strategy Security management Controlling Quality / Project Management Treasury Finance Insurance / Broker / Banking Legal consoulting This is the first job in my career Internal control Audit Manager Other Operational, (e.g. Logistics, engineering, manufacturing,… Risk management /insurance /claims related roles
Basis: 574
23
Basis: 574
In collaboration with :
21% 18% 12% 12% 9% 6% 3% 3% 3% 3% 3% 3% 3% 3% 0% 0% Basis: 35
24
In collaboration with :
Basis: 391
25
In collaboration with :
7% 11% 46% 33% 16% 15% 13% 13% 8% 8% 9% 18% 1% 2%
No staff 1 to 3 4 to 5 6 to 10 11 to 20 More than 20 No opinion/ Don't know
Basis: 129 Basis: 741
26
In collaboration with :
12,8% 29,9% 25,9% 15,1% 9,6% 6,7%
No staff 1 to 5 people 6 to 20 people 21 to 80 people Over 80 people No opinion/ Don't know
Basis: 850
27
In collaboration with :
Don’t know 9% Yes 39% No 52%
Traditional Lines of Cover Non-traditional Lines of Cover More important Identical Less important
Basis: 850 Basis: 332
28 Yes on Q7 only
In collaboration with :
Don’t know 9% Yes 39% No 52%
7% 21% 42% 30%
Create a captive insurance / re-insurance company Use alternative risk transfer vehicles Risk retention No opinion/Don't know
Basis: 850 Basis: 444
29 No on Q7 only
In collaboration with :
72% 35% 43% 63% 52% 46% 44% 29% 28% 65% 57% 37% 48% 54% 56% 71%
General lines Health and Benefits Retained losses Broker fees Claims administration feesRisk consultancy Risk management and insurance systems and software Other expenses Captive annual administration cost
Basis: 850
30
In collaboration with :
Q8.3 - Could you please indicate your best estimate of the total cost of risk in 2013 (in Euros)?
17,7% 16,0% 14,0% 13,0% 6,3% 6,0% 4,2% 3,7% 3,3% 2,8% 2,1% 1,6% 1,6% 1,4% 1,4% 1,4% 1,2% 0,9% 0,7% 0,7% 0,0% 0,0% 0,0%
Basis: 430
31
In collaboration with :
Introduction European insights on risk management practices European perspective Evolution of the Insurance Market and Risk Managers’ Expectations
32
In collaboration with :
7,0% 6,6% 3,1% 5,0% 2,1% 7,3% 3,5% 3,1% 1,6% 22,2% 16,7% 17,9% 3,8% 0,9% 6,6% 4,4% 10,6% 1,2% 10,7% 4,0% 3,8% 2,1% 31,3% 11,7% 11,9% 0,9%
Risk Committee Other No opinion / Don't know Head of Treasury Head of Internal Audit General Counsel General Chief Risk Officer Chief Operating Officer Chief Financial Officer Chief Executive Officer Board of Directors Audit Committee
Insurance Risk Management
Basis: 681
33
In collaboration with :
0,0% 0,1% 0,1% 0,1% 0,1% 0,1% 0,1% 0,1% 0,3% 0,3% 0,3% 0,4% 0,4% 0,4% 0,6% 0,9% 1,6% 2,3% 3,1% 3,5% 3,5% 3,8% 5,0% 7,3% 7,6% 17,0% 18,1% 23,9%
VP in Business Development Group Controller/Head of Control Commercial Assurance Director Shared Services Director VP Financial Compliance General partner Vice President Invalid Corporate Affairs Director Chief Controlling Officer HR director No single reporting line Procurement manager Other Head of finance Director general for administration Chief Operating Officer Head of Internal Audit Don't know General / Company Secretary Chief Risk Officer/Head of Operation Risk Audit Committee Head of Treasury Risk Committee/Group risk management General Counsel / Head of Legal Department Chief Executive Officer / Managing Director Board of Directors / Supervisory Board/Corporate Governance Chief Financial Officer/Group Financial Controller (CFO)
Basis: 681
34
In collaboration with :
0,0% 0,0% 0,0% 0,1% 0,1% 0,1% 0,1% 0,1% 0,1% 0,1% 0,3% 0,3% 0,3% 0,4% 0,6% 0,9% 0,9% 1,2% 1,5% 2,1% 4,0% 4,1% 10,6% 11,0% 11,0% 12,0% 12,0% 32,7%
VP in Business Development Vice President Invalid Group Controller/Head of Control Commercial Assurance Director Shared Services Director VP Financial Compliance General partner Procurement manager HR director Corporate Affairs Director Chief Controlling Officer Director general for administration No single reporting line Head of finance Audit Committee Other Risk Committee/Group risk management Head of Internal Audit Chief Operating Officer General / Company Secretary Chief Risk Officer/Head of Operation Risk Head of Treasury General Counsel / Head of Legal Department Don't know Board of Directors / Supervisory Board/Corporate Governance Chief Executive Officer / Managing Director Chief Financial Officer/Group Financial Controller (CFO)
Basis: 681
35
In collaboration with :
32% 47% 54% 63% 69% 73% 75% 76% 84% 90%
Analysis of capital projects and delivering business plans Definition of compliance policy Design and implementation of risk financing strategy and association solutions Development and embedding of Business Continuity Management / Emergency Management / Crisis Management / Incident response… Alignment and integration of risk management as part of business strategy Development and implementation of Risk Culture across the
Design and implementation of risk controls/prevention Assistance to other functional areas in contract negotiation, project management, acquisitions and investments Development of map of risks: risk identification, analysis, evaluation, prioritization and reporting Insurance management and claims handling / insurable loss prevention
Q10A - In your organization, which of the following activities are the responsibility of the risk management or insurance leader – and are they already embedded or planned? RM’s or IM’s Responsibility - Yes Basis: 681
36
In collaboration with :
73,4% 56,5% 68,7% 86,9% 68,0% 34,2% 46,4% 55,2% 51,5% 47,3% 13,7% 19,5% 8,5% 4,0% 13,4% 9,1% 9,8% 20,1% 24,8% 14,7% 7,5% 14,1% 12,9% 3,7% 9,0% 31,3% 23,2% 14,2% 13,5% 20,0% 5,4% 9,8% 9,8% 5,4% 9,7% 25,4% 20,6% 10,4% 10,1% 18,1%
Development of map of risks: risk identification, analysis, evaluation, prioritization and reporting Alignment and integration of risk management as part of business strategy Assistance to other functional areas in contract negotiation, project management, acquisitions and investments Insurance management and claims handling / insurable loss prevention Design and implementation of risk controls/prevention Analysis of capital projects and delivering business plans Design and implementation of risk financing strategy and association solutions Development and implementation of Risk Culture across the organization Development and embedding of Business Management Definition of compliance policy
Embedded Planned for 2014/15 Not planned No opinion
Basis: 681
37
In collaboration with :
Formally presents to the board of directors and top management several times per year
Formally presents to the board of directors and top management
Meets board and/or top management members on a requested basis
There is no mechanism in place to formally report about risk management
No opinion / Don't know
Basis: 681
38
In collaboration with :
No relationship 43,3% Regular, close collaboration 34,7% Risk mgr's own responsibility 9% Not applicable 13,2%
Strategic planning business
No relationship 19,4% Regular, close collaboration 57,4% Risk mgr's own responsibility 14,4% Not applicable 8,8%
Ethics / Compliance / Legal
Basis: 681
39
In collaboration with :
No relationship 39,9% Regular, close collaboration 33,8% Risk mgr's
responsibility 12,0% Not applicable 14,2%
Corporate Social Responsibility Sustainability
No relationship 11,5% Regular, close collaboration 52,0% Risk mgr's
responsibility 28,2% Not applicable 8,4%
Business Continuity / Crisis Management
Basis: 681
40
In collaboration with :
No relationship 19,5% Regular, close collaboration 55,1% Risk mgr's
responsibility 16,3% Not applicable 9,1%
Internal Control / Internal Audit
No relationship 41,4% Regular, close collaboration 36,1% Risk mgr's
responsibility 9,4% Not applicable 13,1%
IT- for major projects
Basis: 681
41
In collaboration with :
No relationship 36,4% Regular, close collaboration 40,4% Risk mgr's
responsibility 8,8% Not applicable 14,4%
Investments and investors relations
No relationship 23,9% Regular, close collaboration 52,0% Risk mgr's
responsibility 9,0% Not applicable 15,1%
Mergers & Acquisitions – for acquisitions / transfers decisions
Basis: 681
42
In collaboration with :
No relationship 33,2% Regular, close collaboration 44,8% Risk mgr's
responsibility 10,7% Not applicable 11,3%
Sourcing / Procurementted
No relationship 26,0% Regular, close collaboration 48,5% Risk mgr's
responsibility 7,8% Not applicable 17,8%
Manufacturing / Logistics / Distribution / Quality
Basis: 681
43
In collaboration with :
No relationship 5,0% Regular, close collaboration 32,9% Risk mgr's
responsibility 57,4% Not applicable 4,7%
Insurance Managementted
No relationship 39,1% Regular, close collaboration 38,3% Risk mgr's
responsibility 7,9% Not applicable 14,7%
HR - Employee Benefitsted
Basis: 681
44
In collaboration with :
7% 23% 40% 7% 8% 15%
all functions together in a single department all functions separate in four different departments Risk and Insurance Management together Risk Management and Internal Control together Internal Audit separate Insurance Management separate
Basis: 681
45
In collaboration with :
20,4% 51,8% 5,3% 9,4% 7,9% 5,1%
On a global corporate level
financial and
From corporate level down to divisions and business units Only for certain business units Only for certain categories of risks No such approach has been put in place yet No opinion / Don't know
Basis: 681
46
In collaboration with :
0,0% 0,0% 0,0% 0,0% 0,1% 0,1% 0,1% 0,1% 0,3% 0,3% 0,6% 0,6% 1,5% 19,2% 21,0% 27,8% 44,2% 57,1%
Basis: 681
47
In collaboration with :
47% 46% 43% 27% 46% 52% 47%
Risk mapping Risk registers Risk quantification Risk appetite and tolerance Claims analysis Risk reporting / Risk dashboards Monitoring of risk mitigation actions / controls
Basis: 681
48
In collaboration with :
Introduction European insights on risk management practices European perspective Evolution of the Insurance Market and Risk Managers’ Expectations
49
In collaboration with :
39% 39% 41% 45% 46% 47% 50% 51% 52% 59%
Debt, cash flow Quality (design, safety & liability of products & services) Human resources / key people, social security (labour) Planning and execution of strategy Market strategy, clients Economic Competition Regulation and legislation Reputation and brand Political - Government intervention, legal and regulatory changes
Basis: 315
50
In collaboration with :
47,2% 50,0% 26,4% 38,0% 31,5% 24,2% 24,8% 31,7% 42,3% 27,6% 37,4% 39,5% 53,5% 45,1% 47,3% 51,0% 53,5% 47,8% 47,2% 37,8% 15,4% 10,5% 20,2% 16,9% 21,2% 24,8% 21,7% 20,5% 10,4% 34,6%
Debt, cash flow Quality (design, safety & liability of products &… Human resources / key people, social security… Planning and execution of strategy Market strategy, clients Economic Competition Regulation and legislation Reputation and brand Political - Government intervention, legal and…
High Mid Low
Basis: 185 Basis: 163 Basis: 161 Basis: 157 Basis: 149 Basis: 146 Basis: 142 Basis: 129 Basis: 124 Basis: 123
51
In collaboration with :
56,9% 71,0% 58,9% 55,6% 57,5% 36,2% 41,4% 39,1% 66,3% 27,0% 13,8% 15,3% 13,2% 4,2% 6,8% 10,1% 3,8% 4,3% 4,9% 8,6% 29,3% 13,7% 27,9% 40,1% 35,6% 53,7% 54,8% 56,5% 28,8% 64,3%
Debt, cash flow Quality (design, safety & liability of products &… Human resources / key people, social security… Planning and execution of strategy Market strategy, clients Economic Competition Regulation and legislation Reputation and brand Political - Government intervention, legal and…
Reduction Transfer Accepted
Basis: 185 Basis: 163 Basis: 161 Basis: 157 Basis: 149 Basis: 146 Basis: 142 Basis: 129 Basis: 124 Basis: 123 52
In collaboration with :
41,0% 46,0% 21,0% 29,0% 19,0% 17,0% 15,0% 20,0% 37,0% 16,0% 41,0% 44,0% 56,0% 54,0% 63,0% 62,0% 65,0% 55,0% 49,0% 54,0% 18,0% 10,0% 23,0% 17,0% 18,0% 21,0% 20,0% 25,0% 14,0% 30,0%
Debt, cash flow Quality (design, safety & liability of products &… Human resources / key people, social security… Planning and execution of strategy Market strategy, clients Economic Competition Regulation and legislation Reputation and brand Political - Government intervention, legal and…
High Low Mid
Basis: 185 Basis: 163 Basis: 161 Basis: 157 Basis: 149 Basis: 146 Basis: 142 Basis: 129 Basis: 124 Basis: 123
53
In collaboration with :
Insurance Contract Law Expert Organization Collective Redress in the European Union Network & Information Security (NIS) Directive Insurance Premium Tax (IPT) The European Insurance Mediation Directive (IMD 2) The possibility of an EU-wide mandatory financial security Solvency 2 and the captive treatment Annual reporting and transparency Data Protection Regulation
Basis: 295
54
In collaboration with :
The possibility of an EU-wide mandatory financial security(bonds, letter of credit, provisions...) or an insurance scheme to cover some industrial incidents: 38%
Environmental liabilities Terrorism Data breach or information systems incident Natural catastrophes YES NO No opinion / Don't know
Basis: 112
55
In collaboration with :
Solvency 2 and the captive treatment: definition, proportionality and simplified rules and calculations for eligible captives 38%
Basis: 113
56
In collaboration with :
Solvency 2 and the captive treatment: definition, proportionality and simplified rules and calculations for eligible captives 38%
Basis: 113
57
In collaboration with :
Solvency 2 and the captive treatment: definition, proportionality and simplified rules and calculations for eligible captives 38%
Basis: 113
58
In collaboration with :
Solvency 2 and the captive treatment: definition, proportionality and simplified rules and calculations for eligible captives 38%
Basis: 113
59
In collaboration with :
Solvency 2 and the captive treatment: definition, proportionality and simplified rules and calculations for eligible captives 38%
Basis: 113
60
In collaboration with :
The European Insurance Mediation Directive (IMD 2) and the level of protection for the diversity of professional insurance buyers 34%
Full mandatory disclosure on remunerations and fees On request disclosure on remunerations and fees On request disclosure on remunerations and fees based on the size of the clients Voluntary disclosure
Basis: 100
61
In collaboration with :
Collective Redress in the European Union 28%
Basis: 76
62
In collaboration with :
Increased premiums on product liability coverage Increased legal costs Reduced risk appetite for innovations Increased use
Dispute Resolutions (mediation, arbitration...) No
know
Collective Redress in the European Union 28% Basis: 76
63
In collaboration with :
Possible sanctions for breaching the Regulation up to 1,000,000 euros
turnover Appropriate documentation for all data processing activities and available on request to the regulator Mandatory data breach notification to the regulator Cross-border businesses will have to choose
regulatory authority that supervises activities across all EU membe The appointment of a Data Protection Officer for companies over 250 employees
Data Protection Regulation 45% Basis: 133
64
In collaboration with :
Annual reporting and transparency 38%
Basis: 113
65
In collaboration with :
Annual reporting and transparency 38%
Global competitiveness issue Confidentiality issue regarding strategy Business model and cross-border synergies
Basis: 113
66
In collaboration with :
Insurance Contract Law Expert organization 24%
Basis: 71
67
In collaboration with :
Insurance Contract Law Expert organization 24%
Basis: 71
68
In collaboration with :
Network & Information Security (NIS) Directive 27%
Increases the level of cybersecurity and should be extended to other sectors than just critical infrastructures Increases the level of cybersecurity but should remain only for critical infrastructures Does not bring any added value in terms of cybersecurity
Basis: 81
69
In collaboration with :
Insurance Premium Tax (IPT) 29%
Basis: 86
70
In collaboration with :
Insurance Premium Tax (IPT) 29%
Basis: 86
71
In collaboration with :
Insurance Premium Tax (IPT) 29%
Basis: 86
72
In collaboration with :
Introduction European insights on risk management practices European perspective Evolution of the Insurance Market and Risk Managers’ Expectations
73
In collaboration with :
No opinion / don't know Purchase of credit insurance None Acceleration of claims settlement process Selection of more financially robust insurers Implementation or further use of captive facilities Insurance buying pattern Strengthen loss prevention activity Negotiate long-term agreement or roll-over
Basis: 430
74
In collaboration with :
Insurance buying pattern: 34% Basis: 145
75
In collaboration with :
23,7% 21,4% 39,1% 40,7% 43,5% 19,3% 27,0% 24,4% 28,8% 13,3% 17,2% 5,1% 24,4% 22,1% 21,9% 4,9% 11,9% 2,3% 22,6% 21,4% 7,2% 4,7% 7,4% 1,4% 2,3% 10,7% 3,0% 36,5% 20,0% 71,9% Public Liability Product Liability Directors' & Officers' Liability Gradual Environmental impairment Liability Errors & Omissions / Professional Liability Cyber risk coverage <50M EUR 50 – 100M EUR 101 –300M EUR >300M EUR No coverage
Basis: 430
76
In collaboration with :
77% 57% 45% 27% 20% 15% 3% 1% 1% 0% 0% 0% Basis: 430
77
In collaboration with :
17% 10% 24% 3% 11% 15% 3% 9% 10% 5% 19% 11% 13% 15% 20% 19% 18% 35% 34% 40% 35% 11% 49% 8% 31% 35% 8% 40% 40% 42% 9% 14% 4% 43% 9% 6% 55% 2% 7% 4% 20% 54% 10% 31% 29% 25% 16% 14% 9% 9%
No opinion / don't know Local standalone policies
Master policy & local policies limited to selected countries Master policy and local policies in each country where the insured is present Master policy only, granting coverage on a non-admitted basis for international
Basis: 430
78
In collaboration with :
Cost implications Service proximity (of insurers, brokers, and third parties) Local risk profile Political and economical background
country Pressure of local entity to remain
program Compliance to local regulation Other No opinion / don't know
Basis: 430
79
In collaboration with :
Q35 - With the exception of BRIC countries, please list the top the 1 or 2 countries in which you would like to see improvements in the local insurance offering
19% 11% 10% 10% 9% 8% 6% 6% 4% 4% 4% 4% 4% 4% 3% 3% 3% 3% 3% 2% 2% 2% 2% 2% 2% 2% 2% 2% 2% 2% 2% 2% 2% 2% 2% 1% 1% 1% 1% 1%
Other Brazil Malaysia Argentina USA Mexico France China Russia Nigeria Italy India Turkey Japan Algeria Africa(n) continent The UAE (United Arab Emirates) South Africa Ukraine Angola Germany UK Chile Indonesia Switzerland Egypt Vietnam Poland Bulgaria Venezuela Belgium Canada Morocco Romania South Korea Perú Invalid Dominican Rep Maghrib Don't know
Basis: 178
80
In collaboration with :
Before inception date
Within 1 month of inception date
Within 3 months of inception date
Over 3 months of inception date
Master policy
Before inception date
Within 1 month of inception date
Within 3 months of inception date
Over 3 months of inception date
Local policy issuing Basis: 430
81
In collaboration with :
Policy wording tests Set-up of claims handling procedure Building relationships between insured, insurers and brokers Pre-selection of lawyers and adjusters Crisis management simulations Return phone calls within 24 hours Coordination between teams involved (in house, broker,… Adequate and realistic reserve and evolution of reserve Confirmation of position on coverage as quickly as reasonably… 30 days advanced payment once coverage is confirmed Learnt lessons analysis Automatic access to worldwide claims reporting
Basis: 430
82
In collaboration with :
Policy wording tests Set-up of claims handling procedure Building relationships between insured, insurers and brokers Pre-selection of lawyers and adjusters Crisis management simulations Return phone calls within 24 hours Coordination between teams involved (in house, broker,… Adequate and realistic reserve and evolution of reserve Confirmation of position on coverage as quickly as reasonably… 30 days advanced payment once coverage is confirmed Learnt lessons analysis Automatic access to worldwide claims reporting
Basis: 430
83
In collaboration with :
I do not conduct risk and insurance data analysis Improve benchmarking abilities Provide rationale for the risk management budget Allow you to conduct captive optimization Assess the cost of uninsured risks Understand the company's risk appetite and tolerance Allow you to conduct insurance program limit optimization Allow you to conduct insurance program retention optimization
Basis: 430
84
In collaboration with :
Basis: 326
85
In collaboration with :
Basis: 326
86
In collaboration with :
87