PwC on risk resilience:: you don’t want swans in your blindspot…or anywhere else!


In this report PwC follow on from criticisms of the “reach” of conventional risk management contained in the, AIRMIC sponsored, “Roads to Ruin” report that I have previously commented on. Whilst we should ALL be grateful that the subject matter is being kept on the agenda, it is disappointing how few “risk professionals”, insurers, brokers and business leaders are aware of the shortcomings of what is deemed to be accepted “best practice”.

It isn’t only me who has focussed upon the potential implications for business and, to a greater extent, the UK (if not global) insurance industry. Mactavish Consulting have been ringing the alarm bells for, at least, 2 years.

Here is what their own summary had to say:

Black swans turn grey is a thought provoking paper looking at how the landscape of risk is changing from a past environment where boards believed their organisations could manage and control risks to the present where established risk approaches and thinking are being repeatedly outpaced.

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Ontonix:: the why, what and how of on-line rating


No surprise that “complexity isn’t simple”! But, whilst WE, at Ontonix, can’t change that, we are determined to simplify the process of gaining unprecedented insight into the, otherwise hidden, structure within system data.

Our Mission is to contribute to (re)building resilient economies and that is a job that wont be done “top down” but from the “inside out” [i2o].

We have created an accessible, cost-effective, means of business owners and leaders to begin the process of transformation to less complex, more resilient, enterprises.

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Ontonix partnership:: achieving simple and robust design [CAE]

25299_100121910026116_100000849211465_891_635125_sAltair, developer of the popular HyperWorks computer-aided engineering software, today announced it has partnered with Ontonix to offer OntoNet™ complexity management solutions in the HyperWorks Partner Alliance (HWPA). The partnership will enable Altair HyperWorks customers to further optimize the product design process and analysis.

Altair HyperWorks customers can access OntoNet™ through the HWPA, a suite of third-party applications that can be accessed with the same units used to invoke HyperWorks software. The flexibility of these HyperWorks Units empowers users to deploy the largest and most complete suite of computer-aided engineering (CAE) applications available at no incremental cost or long-term commitment.

“If CAE is to cope with the inevitable increase of product complexity, then complexity must enter the CAE loop. High complexity is a prelude to inefficiency and vulnerability; therefore it becomes necessary to use a measure of product complexity as a design attribute,” said Dr. Jacek Marczyk, founder and CTO of Ontonix. Dr. Marczyk has nearly three decades of experience in CAE, has actively pioneered innovative methodologies for uncertainty and complexity management, and has published seven books on stochastic, nonlinear mechanics and complexity management. “Technology developed by Ontonix allows engineers to conceive new solutions and designs while effectively quantifying and managing the risks associated with overly complex systems”.

via Altair and Ontonix Offer Complexity Management Solution for Achieving Simple and Robust Design – PR Newswire –