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Risk Management in the Insurance Industry

Managing compliance risk is crucial in the challenging environment of the insurance industry. But it’s time for a new approach.

Because of increased consumer awareness and expectations, evolving business models, new technologies with emerging risks, new waves of regulations, and an unprecedented level of sanctions, insurance companies must revise their risk strategies and invest heavily in compliance.

Awareness of compliance risks has risen dramatically, and many companies have already started the journey toward structured, business-driven, forward-looking compliance risk management practices. But there is still significant work to be done.

Managing Insurers’ Compliance Risks in a Changing Environment

Leaders in the insurance industry have the opportunity to make their compliance model more robust—and transform their approach so that compliance becomes a strategic function at the core of key business processes.

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Fortifying Insurers’ Defenses in an Era of Cyberrisk

Insurers must treat cyberrisk in much the same way that they treat traditional insurance risk—by defining the level of exposure they are comfortable with and prioritizing investments accordingly.

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Ofir Eyal on Why Insurance Companies Must Make Risk Management Everyone's Job

When insurance-company employees who perform core tasks embrace responsibility for managing risk, they help make the risk and compliance team's work even more effective

BCG’s Experts in Insurance Industry Compliance

Insurance
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