Director of Strategic Business Risk at Zurich Insurance Group
President and Owner of ERM Strategies, LLC
This case study describes how the Zurich Insurance Group has implemented and evolved its enterprise risk management (ERM) approach for more than 10 years across the globe. It describes how Zurich has organized its governance structures and ERM champions to help integrate ERM into the business model that focuses on promptly identifying, measuring, managing, monitoring, and reporting risks that affect the achievement of strategic, operational, and financial objectives. This includes adjusting their risk profiles to be in line with Zurich's stated risk tolerance to respond to new threats and opportunities in order to optimize returns.
As a large global insurance carrier, Zurich Insurance Group has relied on its ERM program for more than 10 years as a means to help Zurich remain profitable. With over 60,000 employees around the world and serving customers in more than 170 countries and territories, Zurich is exposed to a wide range of risks from its customers to its own operations. Yet Zurich recognizes that taking the right risks at the right time is a necessary part of growing and protecting shareholder value. Naturally, Zurich aims to capitalize on appropriate market opportunities that could attract the best talent and ...