Tag: Risk Management

Protect your career by thinking like a risk manager

On November 26th 2018, GM announced plans to close five plants and lay off 15,000 employees. Given the ongoing expansion of the US economy, the announcement came as a surprise to many. Speculation as to what GM’s move and other flagging economic indicators might suggest for the future of the economy at large serves an unwelcome reminder: No matter how steady the economy or how secure we feel in our current positions/careers, uncertainty is always with us.

Risk managers work to ensure organizations achieve their objectives as they operate in environments full of uncertainty. Risk management involves the practice of identifying the potential threats and opportunities an organization faces, asking “what if” questions to decide on the optimal response, then taking the appropriate actions based on that exercise.

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Compass Group Uses Origami Risk to Track Impact of Hurricanes Harvey & Irma

Image from space of Tropical Storm Harvey in the Gulf of Mexico on August 24, 2017

Compass Group USA risk management team acts quickly to collect business interruption and property damage details using audit and workflow tools in Origami Risk. 

In a recent interview, Origami Risk CEO Bob Petrie was asked for his thoughts on the evolution of the RMIS marketplace over the past five years. Petrie cited two factors as key drivers of change in the RMIS market. The first, rapid advances in technology, has allowed RMIS vendors to provide new tools that gives users the ability to “quickly and easily integrate data” and “make full use of mobile technology”. The second driver is an increased focus on risk mitigation. While claims management features have always been a central RMIS systems component, it’s this change that has spurred the development of adaptable “tools to help manage pre-loss processes and streamline workflows, as well as to collect and disseminate critical data.”

The way in which Compass Group USA—a leading foodservice and support services provider with over 200,000 employees—is using Origami Risk in the days and weeks following Hurricanes Harvey and Irma, has served as an example of an innovative and timely use of these tools.

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Risk Managers Speak About the Challenges of Values Collection

Several prominent risk managers at leading UK and European companies recently participated in a roundtable—co-hosted by Gallagher Basset and Origami Risk—on future-proofing management information (MI). “Risk Managers Speak About the Challenges of Values Collection” is the first in a series of five articles that cover key data issues and opportunities identified during the discussion.

To download “Risk Managers Speak About the Challenges of Values Collection”, click here.

For a summary of the roundtable, click here.