Montague Risk Management
The bleeding edge of our profession is now resiliency – not recovery, not continuity. But the most interesting part of this is the analysis of events as they occur: calculating the effects of these events and responding in new and different ways.
Coupled with detailed current information and analytics engines to help us to understand the impact of events on our markets, our competitors, and our operations, we are now beginning not just to respond faster and better, but to position ourselves to be able to manage improbable, adverse events – sometimes called 'black swans' – to our advantage. We are able to generate additional revenues and/or open new markets for existing products, rather than just minimizing event damages.
I don’t know about you, but I would like to move to the side of the organization that deals with revenue enhancement – marketing and new product development – and move away from compliance. There is more funding there to get the job done right!