Business Insurance:: ISO 31000 should we believe the hype?


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Apparently,

“…risk managers should use standards such as ISO 31000, “because standards, no matter what kind or which ones, support key tools and processes.”“Standards allow you to proactively address risks with some discipline,” he said. “Standards also relate well to the whole idea of focusing on outcomes.”

http://www.businessinsurance.com/article/20130602/NEWS06/306029979?template=smartphoneart

Surely the focus should be upon being proactive and ‘managing’ emergent risks, NOT outcomes!?

Where, I suspect, NASA have a distinct (informational) advantage is that the multi-scalar interactions among components, processes, networks of sub-systems and systems are each rigorously tested at every point in assembly and operation…

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How much work does Financial Services still have to do?


Directions

It is a serious question! It genuinely bothers me that FS is rated as less trusted than banking [Edelman Trust Barometer] for the third straight year.

Equally I am incredulous that the UK insurance industry has the audacity to, still, be talking about increasing “professionalism” when the Aldermanbury Declaration is nothing more than yet another attempt at (well-practised) misdirection…or, if you like, ‘turd-polishing’.

Don’t try to see into the future using the past as your lens!

You are looking in the wrong direction. By all means know about and learn from the past but don’t use the wrong lens to try to look too far ahead. As a concerned mother of my parents’ generation would say “you’ll just strain your eyes”! Look within: not necessarily in some mystical or philosophical sense – although there are numerous historical references that still hold good – but in a practical manner as far as the structure, culture and operation of the business is concerned. And in a metaphorical sense in respect of your own biological system. Read more of this post

Competitive advantage from new insights on customers, risks and business cycles – Bain & Co.


It isn’t rocket science to figure that, if we keep asking the same questions, using the same metrics and look for familiar patterns in data we won’t get new, better answers or identify new patterns!

Identifying, mapping, monitoring and managing causal relationships is a means by which carriers of financial/insurance risk can seize a considerable competitive advantage…from an informational advantage.

Ontonix enables organisations [insurers] to do just that…in real-time, if required!

So, instead of relying upon attempts to predict the unpredictable and reflexive, post-loss, analysis the opportunity exists for ‘crisis anticipation’. Our experience of working across a wide range of sectors – from healthcare to aviation, automotive and engineering design to banking – is that, our unique analysis can enable effective loss prevention. A, potentially, transformational development for firms involved in insurance risk transfer, investing for future returns or protecting against unknown (or unknowable) future events…so where are the ‘Risk Leaders’? Read more of this post

Don’t Let Complexity Kill Your Sales Model – Forbes


I’ve tried BUT, grudgingly, accepted that you just can’t show people – who are blinded by their own self-importance, ignorance or whose vision is impaired by the blinkers of an engrained belief-system – stuff that they just don’t want to see!

When things start to head in the wrong direction ‘they’ are the one’s fastest to seek to apportion blame. Whether it is the “market”, the competition, the supply chain, a division, team  or specific individual there has always got to be someone or something to point at to deflect criticism away from them. Strangely this brand of leader are never so quick to acknowledge the impact of factors, often outwith their scope of control, when they add up to success!

These people are business leaders in name or position but NOT in nature. They are able to perpetuate what they have learnt but at the expense of what they should know. They have spent so long reaping the rewards of manipulating systems – to sustain the financial returns the model DEMANDS – that they have become so obsessed with the golden eggs, they forgot to feed the goose!

Business customers increasingly want their vendors to have real expertise in their specific industry or function, such as finance or marketing. They expect vendors to help solve business problems…

via Don’t Let Complexity Kill Your Sales Model – Forbes.

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It’s here!:: Edelman Trust Barometer 2013


Here it is, the moment that Banks and Financial Services companies have been waiting for. The 2013 Trust Barometer has been released. But, it is NOT good news! Sorry to say that it is an inglorious hat trick.

Edelman Trust 2013

Yep, sorry to say that Banks and FS are bottom of the heap AGAIN. For the third straight year …

Following is the full Presentation but commentary on past reports here:

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