Why operational resilience is a strategic priority for insurance chief risk officers
Operational resilience is now a board-level priority for insurers.
The survey
Resilience is a top priority for insurance risk leaders.
Research methodology
We surveyed insurance chief risk officers.
Why CROs are focusing on resilience now
Cyber threats, outsourcing and regulation.
Regulatory focus areas
Operational resilience and cyber rules are among the top concerns.
How CROs aim to build resilience
Mapping important services, testing scenarios and managing third parties.
Priority areas for enhancement
Cyber, third-party risk and incident response.
Resilience in risk appetite
Setting impact tolerances for critical services.
Financial risk management enhancements
Better liquidity and credit monitoring.
Skills needed in the next five years
Data, technology and cyber skills.
In conclusion
Resilience requires investment and leadership.
Summary
Operational resilience is strategic for insurers.
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