ISO 31000 and BS31100 | Empower Development

Autoplay
Autocomplete

Previous Lesson Complete and Continue

992 Risk Management in Insurance

Navigating your ACII

Using This Course (3:29)
Approaching Coursework (11:45)
The Marking Grid (10:01)
Referencing (8:01)
ACII Journey Mapping (10:26)

Interviewing the Industry

NICK KIRK- Risk appetite - Attitude to risk - Reputation (7:38)
RICHARD WOOLER - Investment strategies - Investment management - Diversification (3:46)
RICHARD WOOLER - Key Capital Model Components - Volatility (1:34)
RICHARD WOOLER - Using equity or debt to raise capital - Mergers and acquisitions (4:59)
JAMIE CROOKENDEN - Underwriting controls and procedures - Referral requirements - Delegated authority (12:57)
JAMIE CROOKENDEN - Peer review and audit - Authority breach - Benchmark rating (8:33)
MARK BUTTERWORTH - Risk acceptance policy - Strategic business planning - Barriers to entry (10:44)
MARK BUTTERWORTH - Outsourcing risk - SLAs - Auditing (12:32)
NOUSHEEN HASSAN - Solvency II - Evolution of risk management - ORSA (6:07)
NOUSHEEN HASSAN - Enterprise risk management (ERM) - Understanding risks (4:08)
NOUSHEEN HASSAN - Risk management information system (RMIS) - Risk registers (9:39)
NOUSHEEN HASSAN - Changing the strategy - Business planning - Stress and scenario testing (7:18)
NOUSHEEN HASSAN - Internal audit - Peer review - Three lines of defence (7:57)
NOUSHEEN HASSAN - Analysing risk - COVID-19 - Data capture (4:34)
SUNEETA PADDA - Broking risk - PPL - Distribution (2:53)
ROSEMARY BEAVER - Risk culture - Critical stakeholders - Brand (3:44)

Technical Topics

Reinsurance Strategy and Procurement (2:01)
Management of Financial Risk (4:13)
Operational Risk (5:48)

Refreshers

Capital and Solvency Requirements (2:10)
UK Corporate Governance Code (4:48)
Corporate risk management (2:31)

General resources

Airmic Annual Report and Accounts 2023

Concepts ‘in a nutshell’

ISO 31000 and BS31100 (1:46)
ERM & GRC (2:12)
Risk Management Information System (1:32)
Reverse Stress Testing (1:53)

Perspectives & Scenarios

People risks (19:52)

Real Time Research

A look at a risk review (7:22)
Rating agencies (6:15)
Strategy & values (10:33)
ORIC International (6:52)

Snip-it Summaries

Defining Stakeholders (1:08)
GDPR (2:40)
Senior Managers and Certification Regime (SM&CR) (3:24)
Solvency II (2:49)
Artificial Intelligence (2:43)
Environmental, Social and Governance (ESG) (2:54)
Consumer Duty (3:32)

Research Resources

992 Risk Management in Insurance Specimen Coursework
General ACII resources
Lloyd's Annual Report 2022
Lloyd's Annual Report 2023
CII Credit Calculator
CII eLibrary

Future Development

Course Feedback

Overview of risk management process and practice

Building a strong insurance risk culture - KPMG
Risk Culture - QBE
What is Risk Assessment? InsurTech
The Future of Risk - PWC
Good Practice Guide: Risk Reporting - Government Finance Function
Enterprise Risk Management - IRM
Enterprise Risk Management: An overview - Reuters
A structure approach to Enterprise Risk Management (ERM) and the requirements of iso 31000
Insurance and ESG: Stakeholder expectations - Insure TV
Insurance & ESG - What do stakeholders think? InsureTV
Environmental, Social and Governance Strategies in Insurance: A guide for SME brokers - CII
Risk control - SYSC FCA Handbook
Results, presentations and reports - Aviva
Financial Reporting Council (FRC) Website
Airmic Website
Institute of Risk Management (IRM) Website
Institute of Risk Management Standard
Committee of Sponsoring Organisations (COSO)
Enterprise Risk Management - COSO
Mandatory Climate-related Financial Disclosures Guidance - UK Government
Hiscox Climate Report 2023
Governance and Reporting - Beazley
A Structured Approach to Enterprise Risk Management (ERM) ISO 31000
Risk Culture - Guidance for Boards - IRM

The role of risk management in the insurance sector

Top Risks Facing insurance Organisations - AON
Navigating shifting risks in the insurance industry - McKinsey
Systemic risks and the insurance sector - CII
Inclusive Capitalism - Legal and General Group Plc
Consumer Duty - FCA
Consumer Duty Good Practice Guide for Insurers - CII
Chartered Institute of Loss Adjusters (CILA) Website
Market Oversight - Lloyd’s
Standard and Poor’s Website
Moody’s Website
Fitch Website
AM Best Website
Guide to Best’s Credit Ratings - AM Best
Guidance for firms on the fair treatment of vulnerable customers - FCA
Guides and Support - Consumer Duty Alliance
Code of Ethics - CII
Transparency and Insurance - CII
Banks of England Website

Risk management framework

Short Guide to the Risk Management Process - IRM
Risk Assessments - British Safety Council
Risk appetite explained guides - AIRMIC
What are Risk Management Information Systems and where do they add value? - Zurich
Risk Management Information Systems are a necessary part of a risk mature organisation - Zurich

Regulatory perspectives on risk management

PRA’s Approach to Insurance Supervision
FCA Handbook
Fundamental Rules and Principles for Businesses - PRA
The UK Corporate Governance Code - Financial Reporting Council (FRC)
EIOPA Website
What is Solvency II? Lloyd’s
Managing the Financial Risk from Climate Change - PRA

Management of strategic risks

Control Risks Maps

Management of core insurance risk

The 10 major risks shaping insurance today - Moody’s
The 10 major risks shaping insurance today: additional commentary - Moody’s
Top risk factors facing the insurance industry in 2024 - Hanover
Underwriting Governance and Teamwork: New thinking for the challenges of a new age - CII
Reimagining reinsurance strategies in a changing landscape - Deloitte
Risk Management and Reporting for the Insurance Industry
DXC Technology Website
Realistic Disaster Scenarios (RDS)
Conditions Governing Business - PRA Rulebook
UK Sanctions - UK Government
Risk Reports - Lloyd’s
Information Commissioner’s Office Website
CRESTA - Website
Implementation at Lloyd’s
Review of Solvency II - Bank of England
UK Financial Services and Markets Act 2023 - Clifford Chance
The Prudential Regulation Authority’s Approach to Insurance Supervision - PRA
Capital, Pricing and Reserving Models - AON
Igloo Website - WTW
Guidelines on Own Risk and Solvency Assessment - EIOPA

Management of financial risk

Sigma - Global economic and insurance market outlook 2024-25 - Swiss Re
Liquidity risk management for insurers - Deloitte
Aligning operational risk and insurance - IRM

Operational risk

Operational risk management: An overview - Reuters
Operational risk management: The new differentiator - Deloitte
Managing people risk - PWC
People Risk Report 2024 Repot - Mercer
People Risk 2024 - Marsh
How to Manage People Risk - AON
Five Pillars of People Risk - MarshMcLennan

Teach online with

ISO 31000 and BS31100

Complete and Continue