Risk as it is, and Risk as it should be: Why Insurable Risk and GRC together?

Riskonnect has been talking about Integrated Risk Management since before it was cool. Well before there were debates if it was a type of software, a business process, or an organizational core value (hint: It’s all three!).

The question I get asked most, since Riskonnect’s approach to risk solutions is so unique, is why are we so adamant that Insurable Risk solutions (RMIS, Policy and Program Management, Claims Administration) should be deeply integrated with GRC solutions (Enterprise Risk Management, Compliance, Third Party Risk Management, Internal Audit, Operational Resilience). 

The core of integrated risk management is about correlation. It’s about connecting the dots between all types of risk. So again, why Insurable Risk and GRC together? Because this integration is the only way to match the reality you operate in today with the goals you have for the future.

A RMIS solution shows you your organization as you are. It integrates, automates and analyzes the near and present loss and the costs to managing it that you are already experiencing, and helps you best manage it into the future. A GRC solution shows you your organization as you want it to be. It establishes, tests, and improves the guardrails and mitigations you define to best address uncertainty, operate with integrity, and achieve your objectives.

Each inform the other. Without both, we open ourselves to blind spots to where we are today or are rudderless to where we want to go tomorrow.  Learn more at https://riskonnect.com/contact-us/.