SEATTLE, July 8, 2015 /PRNewswire/ -- Milliman, Inc., a premier global consulting and actuarial firm, today released Enterprise Risk Management (ERM) Self-Assessment, a platform that allows companies to benchmark ERM maturity levels and processes. Built on Milliman's in-depth industry knowledge, the platform provides custom results based on a 10-15 minute questionnaire and produces a report specific to the company. This gives companies a mechanism for tracking ERM maturation over time and a way to understand how they stack up to the competition.
"As organizations continue to adapt and evolve in today's dynamic business environment, we believe that the value of ERM goes far beyond a compliance obligation, and that companies from all industries can obtain substantial business value from an integrated, collaborative ERM process," said Mark Stephens, executive director of the Milliman Risk Institute. "Traditionally companies have struggled to benchmark their ERM performance. With this platform, they can chart their progress and determine where to focus ERM efforts to maximize improvement."
The ERM Self-Assessment offers benchmarks in five key areas:
- Governance and culture
- Risk assessment and modeling
- Mitigation and controls
- Reporting and communication
- Integration and collaboration
Milliman ERM Self-Assessment is a research effort from the Milliman Risk Institute, a non-profit enterprise risk management research & development center staffed and supported by Milliman. Access to the Milliman ERM Self-Assessment is complimentary and open to the public.
For more information, go to http://www.milliman.com/erm-self-assessment/.
Milliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. For further information, visit www.milliman.com.
About Milliman Risk Institute
Founded in 2011, the Milliman Risk Institute provides scientific-based thought leadership on all facets of enterprise risk management (ERM), finds lessons from the diversity of ERM strategies in use, considers how risk interacts with actuarial concepts, and offers actionable insight to senior executives. The Milliman Risk Institute publishes market research, case studies, best practices, and perspectives from leading risk practitioners on a regular basis. For further information, visit www.milliman.com/Solutions/Services/Milliman-Risk-Institute/.
SOURCE Milliman, Inc.