Creating value is challenging in any highly competitive industry: a daily battle to capture market share, defend margins and improve expenses. Managing value in insurance and banking is even more challenging due to the unique role that risk and capital play in the economics of the business. Whereas most industrial corporations actively avoid risk, there can be no return to shareholders – and no satisfied customers – if insurers avoid risk, and taking risks requires capital. In insurance and banking, risk and capital management and value management are synonymous.
The role of the Chief Financial Officer (CFO) and Chief Risk Officer (CRO) have evolved and adapted to this economic reality. Modern finance and risk functions now have substantial influence on strategy and operations and, through these, the value of their firms. This influence comes in part from being a business partner and in part through the activities directly within their responsibility.
This Masterclass is intended as a practical but theoretically grounded overview for how finance and risk professionals can better manage capital and value in insurance and banking. The course itself is structured around three broad themes in four sessions: Better Information – Measuring Value; Better Insights – Managing Value; and Better Decisions – Capital, Balance Sheet and Risk Management.
Seminar participants will received a signed copy of Tom’s book, Value and Capital Management