HSS ERM CAPABILITIES

An effective ERM program can: 

  1. Build measurable value that is broader than regulatory or board mandated compliance exercises and that will pay for its investment

  2. Strengthen operating and  financial results and create best practices

  3. Facilitate regulatory compliance for ORSA

  4. Influence rating agencies evaluations, which have become more ORSA-centric

 

Key HSS differentiators include experience, flexibility and independence.  We have no hidden agenda to sell other products. Fostering sustainable value at a reasonable price ensures our client relationships are based on mutual trust and understanding.  HSS is well positioned to partner with all organizations from those just beginning to explore the concept of ERM to those seeking to refine or enhance a mature program.  Professional services include:

 

Diagnostic ERM Plan Evaluation:  In a limited, flat fee engagement, HSS can evaluate an existing plan for gaps and opportunities.

 

New ERM Plan Development & Implementation:  HSS can assist management with building a value-driven ERM framework that will lead to ORSA compliance.

 

ERM Plan Update/Compliance Assessment:  HSS can assess and close the gaps to improve an existing plan and can guide their senior management team through the risk identification and assessment and modeling process, thus facilitating development of an updated ERM action plan tailored to their circumstances.

 

ERM Plan Enhancement:   For companies that want to enhance their ERM plan and adopt a value-based approach to risk management, HSS can help management establish a valuation model based upon the magnitude and longevity of their cash flows/earnings. HSS can help identify their crucial business model constraints.

 

Each organization will have its own objectives and ERM status; however, an illustrative client review process is provided below:

  • Review business strategy & objectives

  • Review ERM current state

    • Framework

    • Risk Assessment

    • Capital Assessment

  • Identify ERM best practices

  • Conduct on-site management workshops

  • Consolidate  findings

  • Deliver report

 

The combination of strategic planning, risk assessment and capital planning results in better business decisions. The aim is to meet strategic objectives and generate an optimum return for shareholders.

 

No matter what the level of interest (compliance, cost/benefit, or plan enhancement), HSS can work with an insurance company's senior team to evaluate and improve their ERM plan in several different ways.

 

Since earnings and growth rate influence magnitude, and the risk of violating business constraints drives longevity, this approach enables the company to create "what if" scenarios to more intelligently evaluate strategic options, acquisitions, divestitures, and the efficacy of risk reduction expenditures. These tools help the company focus on performance and value, not just compliance. 

 

HSS  has capabilities in:

  • Property Casualty

  • Life Health

  • Reinsurance 

  • Group and/or individual company levels

  • LinkedIn - White Circle
  • Twitter - White Circle
  • Blogger - White Circle

© 2018 Website Design by The Branding Garden