The 7th FERMA Risk Management Benchmarking Survey provides evidence that risk managers are becoming risk leaders, says FERMA President Julia Graham, ahead of the FERMA Seminar on 20 and 21 October when the results will be released.
Julia explains, “FERMA has said that risk managers are becoming risk leaders – the survey responses provide evidence to support that view. This seventh edition of the Benchmarking Survey, therefore, also endorses our objective to shape and support risk management as a profession.”
FERMA is this year introducing a new way of publishing the results: a European Risk and Insurance Report which will be printed and distributed at the Seminar with a more detailed analysis with comparisons and a focus on countries which will be made available on-line at the same time.
A new three part structure for the survey and the report focusses on the profession, a peer group comparison of insurance procurement and practices including views on innovative solutions, and FERMA’s priorities including the development of diversity in the profession.
The 2014 edition of the survey received a record number of 850 replies, says Julia, “The FERMA Benchmarking Survey results will continue to provide a mature benchmark of risk management practices in Europe and from this, a tangible foundation from which to report about risk and insurance to senior management.” The high level of responses to the survey means the results are ever more representative of the views of the European risk management community.
“The European Risk and Insurance Report will quickly become a must-have for every manager and risk manager as an essential part of their risk management knowledge tool kit”, Julia says. “The more detailed analysis in the online report also offers risk managers the opportunity to benchmark their organisation against what others do in Europe and in the own country.”
Hans-Jörg Schill, President of the German association (BfV), comments, “In my opinion this is the best and most worthwhile survey in the history of the FERMA Benchmarking Survey. The questions were well expressed and relevant, and overall the survey was broader and more general. The results will give us an overview of how other risk managers act and a picture of the state of the art.”
Sabrina Hartusch, President of the Swiss Insurance and Risk Management Association (SIRM) adds, “This is the only survey on this scale that covers the issues that we want to evaluate.”
According to Gilbert Canameras, President of the French association (AMRAE): “This year the survey was more complete and more relevant than previous editions.”
FERMA Executive Director Florence Bindelle, comments, “This was our most ambitious survey so far, and we are delighted with the level of response. We assigned our association members quite ambitious targets, and many of them devoted great energy to encouraging their members to participate. Our industry partners in the survey have also been helpful in enlarging the pool of responses by inviting their clients to respond.”