Enterprise Risk Management (ERM) for Insurers

Banking, Insurance and Financial Services October 25, 2025
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Introduction

This comprehensive course explores enterprise risk management frameworks specifically designed for insurance companies, focusing on the identification, assessment, and management of risks across the entire organization. Participants will learn about the unique risk landscape facing insurers, including underwriting risk, market risk, credit risk, operational risk, and strategic risk. The curriculum covers regulatory requirements such as Solvency II and ORSA, risk appetite frameworks, capital modeling, and the integration of ERM into strategic decision-making. Through case studies and practical exercises, learners will develop the skills to implement effective ERM programs that enhance insurer resilience and value creation.

Objectives

Upon completion of this course, participants will be able to:

  • Implement comprehensive ERM frameworks for insurers
  • Identify and assess key insurance risks
  • Develop risk appetite statements and tolerance levels
  • Navigate regulatory requirements for insurer risk management
  • Apply capital modeling techniques
  • Integrate ERM into strategic planning
  • Develop risk culture and governance frameworks
  • Implement risk monitoring and reporting systems
  • Manage emerging risks in insurance

Target Audience

  • Chief Risk Officers
  • Risk Management Professionals
  • Insurance Executives
  • Compliance Officers
  • Actuarial Staff
  • Regulatory Professionals
  • Board Members

Methodology

  • ERM framework case studies
  • Risk assessment workshops
  • Regulatory compliance scenarios
  • Capital modeling exercises
  • Risk culture development activities
  • Board reporting simulations

Personal Impact

  • Enhanced risk management expertise
  • Improved strategic thinking capabilities
  • Stronger regulatory knowledge
  • Better decision-making skills
  • Enhanced leadership abilities

Organizational Impact

  • Improved risk governance
  • Enhanced regulatory compliance
  • Better capital allocation
  • Reduced earnings volatility
  • Increased stakeholder confidence

Course Outline

Unit 1: ERM Fundamentals

Framework Overview
  • ERM concepts and principles
  • Insurance industry risk landscape
  • Regulatory requirements overview
  • ERM value proposition

Unit 2: Risk Identification

Risk Taxonomy
  • Underwriting risk categories
  • Market and credit risks
  • Operational risk identification
  • Strategic and emerging risks

Unit 3: Risk Assessment

Quantitative Methods
  • Risk measurement techniques
  • Scenario analysis and stress testing
  • Risk correlation assessment
  • Capital adequacy assessment

Unit 4: Risk Appetite

Framework Development
  • Risk appetite statement creation
  • Risk tolerance levels setting
  • Limit framework implementation
  • Risk appetite monitoring

Unit 5: Capital Management

Strategic Allocation
  • Economic capital models
  • Regulatory capital requirements
  • Capital optimization strategies
  • Stress testing applications

Unit 6: Risk Culture

Organizational Development
  • Risk culture assessment
  • Governance frameworks
  • Communication strategies
  • Training and awareness programs

Unit 7: Regulatory Compliance

Legal Framework
  • Solvency II requirements
  • ORSA processes and reporting
  • International regulatory standards
  • Compliance monitoring systems

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