October 26, 2010 – Insurers around the world view their ERM performance as mixed, according to results of Towers Watson’s sixth biennial “Insurance Industry ERM” survey. Of the 465 insurance and reinsurance executives from North America, Europe, Asia Pacific and multiple regions responding to the survey, 58 percent reported being satisfied with their ERM capabilities over the past 18 to 24 months, while 31 percent were neutral and 11 percent dissatisfied.
Additionally, more than two-thirds of respondents noted that their risk management programs contributed to enhanced business performance in such areas as core risk control technologies and a strengthened risk culture. Participants cited management of individual risk exposures (69 percent), risk monitoring and reporting (65 percent) and risk limits and controls (64 percent) as the top ERM areas contributing to enhanced performance.
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