Shifting from defense to offense
Since 2011, EY’s annual North American insurance CRO survey has served as a lens on the current state of enterprise risk management in the industry and the shifting role of chief risk officers (CROs). The 2017 survey featured the largest ever group of participants (40 companies) answering more detailed questions about disruption and cybersecurity, which have emerged as key issues for many CROs.
Consideration of “what comes next?”
As the CRO agenda evolves, significant transitions are underway:
From relative stability to disruption
From clear and well-understood threats to emerging and unknown risks
From serving as a control function to partnering with the business
From focusing on the risks of action to promoting innovation and avoiding the risk of inaction