enterprisesecuritymag

Fraud in the Time of COVID

Top 10 Risk Management Solution Companies - 2020

In today’s regulated environment, the interconnection of systems and new technologies has raised the stakes for risk management. Risk managers are facing many risk management challenges, not least in the international programme space where there are increasing regulatory pressures and complex networks to deal with. But ultimately, the biggest challenge is the sheer amount of information available and the complexity of the risk management requirements, from multiple jurisdictions, each with their own unique compliance and regulatory challenges, to servicing issues and carrier setups. It is an extremely complex landscape and in the end, it is the job of the insurance industry to try and simplify that complexity.

The risk management community is currently looking for clarity of information, quality of data and, above all, an overview of that data. In addition, they are looking for analytics and insights from the data to support the decision-making process. And it is here that technology can provide the support and the means to make this happen.

The difficulty for risk managers is that, in common with others, they have less resources and smaller budgets nowadays, but the complexity of the risk landscape that they are dealing with is increasing. They are in desperate need of investment in technology, as this is the only way for them to solve this conundrum. There is a fundamental change in mind-set required as a result of this, and there will be different skillsets needed by risk managers and indeed the insurance industry as a result. It is always important to consider the impact of new technologies on the human element of risk management.

Creating a comfortable risk culture where stakeholders and employees participate in open heart discussion to find and reveal true risks goes a long way in securing an organization against ever-evolving threats. This step can be complemented by conducting informal in-person interviews. Create accountability by ensuring voluntary participation and diligently implement risk findings with a sure knowledge that risk assessment is the mainstay of an effective ERM program. Ineffective risk assessment resulting in inept risk management strategy has accounted for some, if not all!, of the largest economic losses ever experienced in the corporate history. Enterprises that suffer are the ones that fail to create a solid business case for risk assessment due to their defensive strategy.

We present to you, “Top 10 Risk Management Solution Providers2020.”

Top Risk Management Solution Companies

Having been in the market for over 10 years, Fusion's award-winning software—Fusion Framework System–has been designed to break down silos, automate processes and administrative workload, and gain impactful insights through a shared information foundation that can be tailored to its clients’ programs. Built on the Salesforce Lightning Platform, the software is designed to meet business continuity challenges and enable business resilience. While delivering risk-based functionality, it allows clients to access their programs anytime, anywhere, and from any device

www.fusionrm.com

Helping companies improve their physical security infrastructure with experienced personnel having years of security experience is Inner Valor, a leading corporate investigation and security consulting organization. The company provides clients with a seasoned team of professionals who assist its clients identify and safeguard against vulnerabilities in physical security, ensuring seamless travel even in high-risk environments and personal protection for executives and their families

innervalor.com

Responding to this developing challenge in the ‘New Normal’, the most successful companies are leveraging SmartErgo’s patented plug-and-play platform—ErgoSuite—which automatically gathers and analyzes critical metrics while effectively coaching remote employees. This improves overall employee ergonomic behaviors. SmartErgo’s ErgoSuite platform offers employers a time-proven proprietary toolset for remote workers. Clients say it’s like having a tireless expert professional who personally visits every employee in their home, teaches them key actionable basics of computer ergonomics, helps them assess and tune-up their at-home work area, and personally coaches them to move about and stretch periodically while working

smartergo.com

Compliance Forge

Compliance Forge

ComplianceForge specializes in offering professionally-written cybersecurity and privacy security documentation. They offer comprehensive written information security policies and standards to meet common information security requirements that businesses face. They have been doing this since 2005, so they have a long track record of successfully writing information security policies and other security-related documentation, such as risk assessments, vulnerability assessments and audit templates

CyberArk

CyberArk

CyberArk is the only security company laser-focused on striking down targeted cyber threats, those that make their way inside to attack the heart of the enterprise. Dedicated to stopping attacks before they stop business, CyberArk is trusted by the world’s leading companies — including more than 50% of the Fortune 500 companies — to protect their highest-value information assets, infrastructure and applications

MEGA International

MEGA International

MEGA International has developed a unique set of enterprise governance software and consulting services that can boost operational effectiveness and efficiency – and improve business performance for the long term. Their offering will let you optimize, transform, and govern your operating model. At MEGA, they help corporations and governments address business-centric challenges such as corporate governance and business strategy execution, making sure their staff and resources are continuously aligned with their business strategies and objectives

NAVEX Global

NAVEX Global

NAVEX Global is the worldwide leader in integrated risk and compliance management software and services. Their solutions are informed, driven and refined by direct feedback from their customers, the industry’s largest community of risk and compliance technology users. The firm provides a system that automates processes, operationalizes big data, and provides real-time risk information to make the compliance program truly exceptional

Sphera

Sphera

Sphera creates a safer, more sustainable and productive world. Their innovative cloud-based platform connects an unprecedented amount of information that leads to deeper insights across an enterprise. They operationalize, scale and optimize Integrated Risk and Sustainability Management strategies to help customers identify, manage, and mitigate risk in the areas of Environment, Health, Safety & Sustainability (EHS&S), Operational Risk Management and Product Stewardship

Terra Dotta

Terra Dotta

Terra Dotta software simplifies everyday processes from the way you access information to the way you gather data and create reports. Risk management capabilities are an integral aspect of the software, providing the ability to locate and communicate with your applicants and travelers worldwide. Simply put, Terra Dotta software allows you to realize the full potential of your data and use the software your way at your institution

vArmour

vArmour

vArmour is the leading provider of Application Relationship Management. Enterprises around the world rely on vArmour to control operational risk, increase application resiliency and secure hybrid clouds — all while leveraging the technology they already own without adding costly new agents or infrastructure. Based in Los Altos, CA, the company was founded in 2011 and is backed by top investors including Highland Capital Partners, AllegisCyber, Redline Capital, Citi Ventures, and Telstra