Ernst & Young said it has published the results of a survey on risk measurement and capital management survey in the insurance industry, based on interviews with leading insurance companies.
It said the survey, called A Brave New World, revealed the main challenges currently facing insurance companies. These include creating and implementing risk management tools, processes and systems.
Ernst & Young said the results of the survey contained analysis, predictions and advice on the role of chief risk officers, the formalisation of frameworks and reporting, analysis models, stochastic analysis, models for the future, and managing data.
