Towers Watson, a global professional services company, announced today it has launched the Chief Risk Officer (CRO) Network, the insurance industry's first knowledge-sharing network dedicated exclusively to senior risk officers of life, health and property & casualty insurers with significant operations in North America. The CRO Network will provide an ongoing series of events, including conferences, webcasts, and networking opportunities for CROs and other senior executives responsible for risk management activities.
"Our launch of the CRO Network is in direct response to strong insurance industry interest in peer networking and best practice educational opportunities relating to risk management," said Mark Scanlon, a senior consultant at Towers Watson. "While certain insurers already have forums available to them, the CRO Network is very inclusive, and provides networking and knowledge-sharing opportunities for virtually all insurers operating in North America."
"We know that insurers of all sizes are increasingly recognizing the importance of integrating their risk management processes into decision making, particularly given the continuing challenges in today's economic environment," said Eric Simpson, a senior consultant at Towers Watson. "Additionally, rating agencies and regulators continue to increase their expectations regarding the quality of internal risk management programs. As risk management becomes a well-established discipline, executives with risk management responsibilities are interested in how to best operationalize new processes and maximize the value of their activities."
The principal benefits for members of the CRO Network include:
• Peer Networking. Access to a broad array of colleagues at peer life, health and property & casualty insurers to develop relationships, exchange ideas, discuss ERM challenges and approaches, and share lessons learned
• Expert Access. Access to leading industry CROs and industry experts to discuss emerging best practices that help insurers operationalize new processes and maximize ERM value within their organizations
• Topical ERM Issues. Insights into current ERM topics and issues that are prioritized by member companies and provided during the CRO Network series of educational events
The CRO Network is open to CROs and executives with risk management leadership responsibilities at life, health and property & casualty insurance groups with significant operations located in the United States, Bermuda and Canada. There is no cost to join the CRO Network.
By joining now, members will be able to attend Towers Watson's CRO Network's inaugural conference to be held in Washington, D.C. on September 10 and 11, 2012. The conference is a continuation of other knowledge-sharing events hosted by Towers Watson in 2012, including webinars on the NAIC ORSA requirements and A.M. Best's new ERM questions. At the September conference, participants will be able to exchange ideas and hear from the experts on top ERM issues and challenges, learn more about the CRO Network, and influence the content planning for future events.