Operational Resilience: Why is it so important for insurers?

Operational Resilience: Why is it so important for insurers?

The failure of an insurance company can cause enormous harm.

Author: AxiomHQ – axiomhq.com

 

The UK insurance sector is the 4th largest in the world.  According to the Association of British Insurers, its members manage approx. £1.7 trillion investments.

We see the regulators concentrate upon continuity of important business services and the need to build robust frameworks to manage the risks posed by the failure of technology, processes and people.  Therefore, insurers must take action to identify their important business services, including the reliance on any third parties (or underlying sub-contractors).

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