Description: Response to Life Insurance 2020 Foresight – A Call for Essays. An essay stating the author’s vision for the future of the life insurance sector.

Description: Statistics were invented to describe heterogeneity and are now applied to tackle alea. It may not be appropriate. Let's clarify their field of relevance.

Description: Essays advocating for incentive compensation linked to the level of risk in an organization.

Description: Essays advocating for incentive compensation linked to the level of risk in an organization.

Description: Metadata for entire issue

Description: Research report describing the results of an Emerging Risks Survey conducted in 2016. The report, the tenth in a series, includes comparisons to the previous surveys.

Description: Demonstrating that incentive maximization could lead to failure using game theory. This is illustrated by the optimum strategy for the Prisoner Dilemma single period, multi period and infinite period that could be mutually destructive or beneficial.

Description: Risk management and capital budgeting are two critical components of the corporate decision process. They often need to be considered jointly at the corporate level because of their natural interaction through the dependent risk exposures and other synergetic relationships within an intricate corporate structure in a dynamic business environment. . This paper develops an integrated framework that aligns these two important corporate strategies across business divisions to optimize the streamlined enterprise strategic goal in a multi-period setting. The proposed integrated framework can serve as a practical guideline for corporate executives to optimally coordinate capital budgeting and risk management at the enterprise level.

Description: An introduction to the Goals-Progress-Strategy (GPS) strategic risk management framework: an original synthesis of scenario based ERM, the Logical Framework Approach, and new metrics and methods. GPS improves strategic planning and execution and enables practical management of the risks a company faces in pursuit of its business goals. The framework provides a portfolio view of a company’s strategic objectives, a return on risk-adjusted capital measure, risk-intelligent decision making, and risk-adjusted performance measurement/compensation.

Description: In summary, the goal of this report is to foster better industry-wide education, training and practice that decreases the future range and scope of what leading risk management professionals will henceforth label as being unpredictable as events now commonly thought to be so.