By Vivek K. Mobile: 09920183006 Email:firstname.lastname@example.org
ICICI Lombard General Insurance, one of the leading general insurance companies in the country, has commissioned an all India research entitled ‘Readiness of India Inc. with respect to Risk Management’. The research was conducted through online interviews with 130 C-suite risk officers, to identify the risk practices adopted by Indian organizations.
The research elucidates Enterprise Risk Management (ERM) as a mechanism which combines culture, capabilities and practices with strategy setting and its execution to manage risks in order to create, persevere and realize value. While the key risk areas perceived by India Inc. include regulatory compliance (53%) and operational concerns (50%); 27% of the respondents believe geopolitical uncertainty to be a risk factor. Whereas, 23% claim uncertain economic growth can lead to increasing risks. Interestingly, only 23% respondents perceived information insecurity as a key risk while 11% believe technological disruption was a risk area. This could be because of the limited risk exposures that companies would have experienced directly. Read more