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Adopted by the National Association of Insurance Commissioners (NAIC) to insulate insurance companies from economic shocks, Own Risk Solvency Assessment (ORSA) marks a major step in solvency regulation modernization. As of January 1, 2015, the fast-approaching date when ORSA comes into effect, insurance companies need a forward-looking risk management system that provides a more holistic assessment of various risks and their potential impact. Filing an ORSA report, however, is a daunting task for most, as it necessitates a significant investment of resources including time, money, and skill. Organizations also need to prepare themselves for the increased real-time data that an ORSA report requires.

The first integral step towards ORSA compliance is a relevant restructuring of existing ERM programs. Insurance companies also need to gather accurate and timely information to file an adequate ORSA report. Adopting a well-thought ERM program that embeds ORSA into all business aspects can help better identify, measure, monitor, manage, and report risks.

Join speakers Augustine Doe, JD-MBA, ARM-E, ERM, ARM, SDRM - President and Managing Executive at OutsourceRM; Lisanne Sison, Director of Enterprise Risk Management at Bickmore, Mike S. Harrington - Director of Property and Casualty Actuarial Services at Bickmore, and Kristen Gantt - Regional Vice President Industry Solutions at MetricStream during this webinar, as they explain how to align existing business processes to company objectives, as well as ORSA compliance requirements. Additional topics for discussion include:

  • Drafting an ORSA implementation roadmap after undertaking a compliance readiness assessment
  • Understanding which ERM process can help indentify, assess, scrutinize, and report inherent business risks
  • Implementing ORSA by successfully adapting your organization's current ERM processes
  • Developing a powerful ORSA governance framework inclusive of reliable processes, distinct methodologies, and a systematic reporting strategy

Attend this webinar:
This webinar is scheduled to take place on Wednesday, August 28, 2013, at 8 am Pacific Time. To register and learn more about the webinar and speakers, please click here.

About MetricStream

MetricStream is the independent market leader in enterprise cloud applications for governance, risk, compliance (GRC), and quality management. MetricStream apps and software solutions improve business performance by strengthening risk management, corporate governance, regulatory compliance, audit management, vendor governance, and quality management for organizations across industries, including banking and financial services, health care, life sciences, energy and utilities, consumer brands, government, technology, and manufacturing. MetricStream is headquartered in Palo Alto, California, with an operations and GRC innovation center in Bengaluru, India, and sales and operations support in 12 other cities globally.(www.metricstream.com).

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Sonia Sharma : pr@metricstream.com | India: +91 98450-19197

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