Business strategy literature does not often mention how companies plan for risk. But insurers are in the risk business and actuaries are leaders in the risk management profession. This looks at five different risk strategies and six different insurer business strategies and discusses how they interact to create a combined business and risk strategy for insurers. We’ll highlight examples existing business and risk strategies in place at real insurance companies. You’re encouraged to participate in this discussion as well as small group discussions. The implications of strategic changes will be explored, focusing especially on the role actuaries can play in this process. Finally, we’ll introduce the adaptor risk strategy as a model for creating long-term value at an insurance company.
Attend this session and you’ll be able to:
• Identify the business and risk strategy of your employer/client’s business units• Assess the impact of alternative approaches• Apply practical risk models to support strategic objectives.
Track: Protecting Long-Term Economic Progress