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RISK MANAGEMENT BLOG

Risk and Mitigation for Property Managers

 

Property managers face a wide variety of risks in their work, and a study by Deloitte found that risk management is now one of the top three concerns held by property managers.  As their portfolio grows, so does the number of property and tenant risks. A potentially overwhelming amount of information has to be effectively managed and used. There are legal risks every step of the way, as well as the general market exposure that almost every organization has to overcome.

Topics: property managers property management risk

Skills of a Successful Risk Professional

 

The risk industry and the professionals within it have changed drastically over the last few decades. Once, risk professionals simply purchased insurance to transfer losses onto another company. Now, they are expected to monitor the risk environment, identify and predict risks, and implement proactive strategies to prevent issues from occurring or minimize their impact when they do. Top-leadership positions based on risk management, such as Chief Risk Officer (CRO), are becoming increasingly common.

With this in mind, what skills and competencies are now necessary for a risk professional to be successful? Certainly a general knowledge of the insurance industry and financial risk will no longer suffice. In addition to an understanding of many topics and environmental factors, there are necessary personality traits, such as influential, flexible, and collaborative.

Topics: effective risk management risk professional risk professional skills

How Much Does it Cost?

How much does it cost?

This is the most common question buyers ask when they're shopping for third-party, cloud-based software. Price is definitely a major factor when purchasing, but there are a lot of other important questions to ask that sometimes get missed at the beginning of the buying process. Asking the following questions up front can save buyers some big headaches down the road.

Topics: third party software external software

4 Types of Data Analysis for Risk Managers

 

Over the past few weeks we've been covering topics such as "6 Reasons Data is Key for Risk Management", "Why All Risk Managers Should Use Data Analytics", and "Data Analysis Steps for Risk Managers". Data has been deemed today's most valuable asset: the "oil of the digital era". Now, let’s delve into some types of analysis that may be particularly helpful for your organization or risk team. 

Topics: risk management data analysis data analysis risk management

Data Analysis Steps for Risk Managers

 

Data analysis can help predict the outcome of a situation or allow you to protect your organization against risk. As discussed in a previous blog post, analysis has many benefits including mitigating repetitive losses, lowering insurance premiums, and more. We recognize that data analysis can be difficult, particularly for organizations with a lot of data and complex processes. In fact, an estimated 75% of organizations lack the technology or strategy to effectively use their data. That’s why we came up with this simple guide on the steps for data analysis.

Topics: risk management data analysis data analysis risk management data analysis steps

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