Time taken and quality
of renewal submission
Inadequate global visibility
on premium expenditure
and policy cover
No oversight on assets
or their risk profile for
renewal & loss control focus
Poor loss ratios, rising
premiums and few insights
into root causes of loss
Few process controls on
claims reporting to insurers
Data chaos, resulting in
lack of transparency,
few insights and limited
business continuity
Very inefficient processes
causing RM team issues
Poor cash flow and large
provisions around losses
No control of below
deductible costs
Unable to easily answer
business unit questions on
allocated premiums
Rising incident rates
Risk register spreadsheets
are hard to consolidate,
limiting rollout of ERM
Corporate governance,
audit and regulatory
compliance needs attention
Insurance
Management
Exposure
Management
Event
Management
Financial
Management
Safety
Management
Enterprise Risk
Management
COMMON CHALLENGES
RESPONSIBILITY AREAS
3
