This paper will address enterprise risk management from a non-technical consultative perspective. It is our belief that in the upcoming years enterprise risk management will change the way companies view insurance, will influence who the actual buyer of insurance is and will change the overall risk approach to less transactional and more strategical. An introduction to the topic will be provided and then a series of questions will be addressed:
- What is driving companies to consider enterprise risk management?
- What are current trends and opportunities in the consultative role of the actuary?
- What skill sets are companies seeking in enterprise risk consultants?
- What techniques are companies and consultants using for risk identification, analysis and modelling (non-technical)?
- What are the strategy and program implementation issues?
- What are the potential obstacles?
Conclusions will then be provided giving a perspective of how enterprise risk management and the associated consultative techniques will change "Insurance in the Next Century".