Managing Risk Appetite in General and Health Insurance Webinar Insights
Discover key risk indicators and practical examples of risk appetite in general and health insurance. Learn how managing risk appetite can guide decision-making, control/mitigate risks, and communicate effectively across the organization.
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Presentation Transcript
7th Webinar on Risk Management 21 July 2022 Key Risk Indicators in General/Health Insurance Manish Sen CRO, Niva Bupa Health Insurance
Risk Appetite GI/HI Prospective To guide decision making by defining the risk appetite limits Provides concrete measurable metrics Better to define in absolute terms/score Simple to understand and consistent Periodic Review & Monitoring www.actuariesindia.org
Risk Appetite Practical Examples Financials Capital/Solvency Ratios Liquidity Earning Volatility Revenue/Profit Meeting Plan Customers Treating fairly Satisfaction Scores Health & Safety Meeting Compliances Data/Privacy Protection Appetite of Breaches People Employer of Choice Survey Scores/Accreditation Brand and Marketing Negative news Quantum Social media coverage Engagements Operational Items Information Security Single loss Events Compliance Concentration limits Product/Channel/Geography www.actuariesindia.org
Risk Appetite How it is helpful? Manage risk taking within defined limits Controls/Mitigations to remain within limits Monitor KRIs to measure risk appetite and exposure levels Actionable for out of limit items Easy Communication across organization www.actuariesindia.org
