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The Value for insurers in better management of nonfinancial risk. Is 6 percent or more of your net income flying out the window?

 
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<title>Value for insurers in better management of nonfinancial risk</title>
<subTitle>Is 6 percent or more of your net income flying out the window?</subTitle>
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<namePart>McKinsey & Company</namePart>
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<abstract displayLabel="Summary">Nonfinancial risk is more diffuse, affecting many aspects of the day-to-day operations of the insurer. Serious misconduct, execution risk, key personnel risk, fraud, failing IT systems, cyberattacks, data leakage, faulty model assumptions, reputational crises: insurance executives know the potential harm these risks can do to their organizations. What they may not know is that operational-risk incidents can cost firms 6 percent or more of their net income. In a sector with global revenue of $5 trillion, the values involved run into the  tens of billions of dollars</abstract>
<note type="statement of responsibility">Kevin Buehler [et at.]</note>
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<title>Review McKinsey on risk</title>
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<text> nº 9, november 2019, 6 p.</text>
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