Operational Risk Management
The insurance industry is based on the identification and pricing
of risk. But like any other industry today, its exposure to more complex
risks is increasing due to globalization, technological pace,
regulatory changes and consumer pressure. For insurers, the need for
active risk management, which includes operational risk, has never been
so acute.
CRP’s Operations Risk Consulting Practice helps insurance companies
identify, assess and mitigate ‘Human’, ‘Internal Processes’, and
‘Systems’ risks in the Operations Risks domain. Our end to end suite of
risk management services range from conducting investigations,
quantifying risk, developing processes to providing real-time
situational analysis. CRP’s multi-disciplinary team of professionals
backed by risk management information systems, provides insurers a blend
of skills, expertise and technology tools that enhance risk management
and capital efficiency.
Drawing on our risk management expertise in insurance and other
sectors, we help insurers identify how risk management can be
incorporated successfully into business planning and decision making to
increase competitive edge. Our services provide the company management a
clearer visibility into the risk landscape and enable them to achieve
strategic goals, while avoiding risks on the way.
CRP’s Areas of Operations Risk Consulting for Insurance Industry |
- Agency Hiring
- Agency Management
- Agency Exit
- Sales Process
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- Policy Issuance & Servicing
- Policy Maturity Process
- Claims Process
- Customer Retention
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Leading Indian insurance companies have leveraged on CRP’s Operations
Risk Consulting Service to improve business performance. Our services
have enabled insurers to devise and implement risk and compliance
programs that manage unforeseen outcomes and mitigate the impact of
realized risks.
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