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Survey: How the Pandemic Has Evolved Risk Management Strategies

October 1, 2021 Leave a comment DRI Admin

COVID-19 has impacted every aspect of business, including risk and resilience. A recent report spotlights how the private sector is incorporating the lessons learned from the pandemic.

The Federation of European Risk Management Associations (FERMA) surveyed risk and insurance professionals as well as senior executives globally to gain a picture of the role of risk management in the wake of the COVID-19 pandemic. The responses point to an increased push for corporate resilience, with more than 50% recognizing resilience as a top priority in strategic decision-making.

Among the findings:

  • Over 90% said the pandemic made risk management more important to their organizations
  • 57% feel their organizations are well equipped to manage resilience overall, with financial, operational, digital and technological resilience considered the most relevant areas
  • In building resilient organizations, risk and executive teams play a larger role than strategy teams, and
  • Almost 75% see a clear need for both improving risk culture and more strongly integrating resilience in their organizations’ strategy going forward.

Click here to read the complete report.

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