Enterprise risk management in the insurance industry: Trends and future directions

The research aims to describe the state of enterprise risk management (ERM) in the insurance sector. It highlights emerging trends in the application of risk management in the insurance sector and thereby reports the prominent research gaps and new avenues for research in ERM.

DS
Dr. Sonjai Kumar
PhD, CFIRM · 16th July · 2 min read
inX
Enterprise risk management in the insurance industry: Trends and future directions
Risk management

Author's Biography

Sonjai Kumar is a risk management professional with over 25 years of experience in the insurance industry, actuarial science and risk management. He is a Consulting Partner in Tata Consultancy Service in Chief Risk Officers' initiatives. He is pursuing a PhD in enterprise risk management in the insurance sector in India at the Fortune Institute of International Business, New Delhi, India. He has published many research papers and articles in international forums and is also a reviewer for the International Risk Management journals. Purnima Rao is a finance faculty member and is presently chairing the Post Graduate Diploma in Management–Financial Management and Fellow Program in Management programmes at the Fortune Institute of International Business, New Delhi, India. Dr Purnima has completed her doctorate in the area of small and medium enterprise financing. She has conducted and delivered many faculty development programmes and webinars for the growing and evolving academic fraternity. She holds editorial positions at journals of repute and is a reviewer for many international journals. Recently, she was awarded the title of the most influential professor by the World Education Congress. Munim Barai holds the position of Professor of Finance at the Graduate School of Management (AACSB and AMBA accredited), Ritsumeikan Asia Pacific University (APU), Japan. He also holds the position of Director at the Ritsumeikan Center for Asia Pacific Studies (RCAPS) at APU. Dr Barai obtained his masters, MPhil and PhD from the Delhi School of Economics, University of Delhi, India. He was awarded a Fulbright Scholarship and conducted post-doctoral research at the University of Pennsylvania, USA. Professor Barai has published three edited books with Palgrave Macmillan, Singapore.

Citation

Kumar, Sonjai, Rao, Purnima and Barai, Munim (2024, March 1). Enterprise risk management in the insurance industry: Trends and future directions. In the Journal of Risk Management in Financial Institutions, Volume 17, Issue 2. https://doi.org/10.69554/UFMP5220.

DS
Written by
Dr. Sonjai Kumar

PhD, CFIRM at MS RiskTec. Dr. advises boards and CROs across BFSI on model risk, explainability and regulatory readiness for AI-driven lending.

Work with our advisory team →

Turn FREE-AI from a burden into an operating model

Start with an AI risk assessment and see where your credit governance stands today.