7th biennal benchmarking survey conducted by the Federation of European Risk Management Associations (FERMA) in collaboration with XL Group, Zurich, EY, Marsh and AXA Corporate Solutions.

1. In collaboration with :
FERMA RISK MANAGEMENT BENCHMARKING SURVEY 2014
European Risk and Insurance Report
1

2. In collaboration with :
Presentation of the survey:
7th biennal benchmarking survey conducted by the Federation of European Risk Management Associations (FERMA) in collaboration with XL Group, Zurich, EY, Marsh and AXA Corporate Solutions.
2

3. In collaboration with :
Key Facts:
39 questions
February to June 2014
22 national associations members of FERMA
9 contacts list of risk managers from partners and 1 contact list : others (32 contact list in total)
850 Respondents
Based on FERMA standard
3

4. In collaboration with :
Content: Questionnaire
The survey was divided in 4 parts : Introduction: from S0 to Q8 Benchmark the risk management practices in Europe Provide a tangible basis for reporting to senior management Track trends over time Set up a tool to serve as basis of current relevant knowledge To be the referenced survey developed by risk managers for risk managers in Europe European insights on risk management practices: from Q9 to Q16 Reinforce the understanding of the positioning of the risk and insurance management role Support the development of the risk and insurance management function European perspective: from Q17 to Q29 Identify the main priorities at FERMA level to support members and risk and insurance management function Insurance: Evolution of the Insurance Market and Risk Managers’ Expectations: from Q30 to Q39 Compare and position their organization’s insurance program against a organization group to support and improve decision making
4

5. In collaboration with :
Sample - Global
5
ASSOCIATION
Complete
Incomplete
Total respondents
Total invited
Complete Rate (Complete / Total invited)
Target Rate (Complete / Target)
Response Rate (Total respondents / Total invited)
Target 2014
AGERS
19
10
29
50
38,0%
70,4%
58,0%
27
AIRMIC
79
84
163
1 058
7,5%
52,7%
15,4%
150
ALRIM
1
3
4
9
11,1%
16,7%
44,4%
6
AMRAE
81
73
154
610
13,3%
54,0%
25,2%
150
ANRA
36
15
51
110
32,7%
52,9%
46,4%
68
APOGERIS
8
5
13
50
16,0%
29,6%
26,0%
27
ASPAR
1
4
5
16
6,3%
10,0%
31,3%
10
BELRIM
32
24
56
93
34,4%
58,2%
60,2%
55
BFV-DVS
42
38
80
143
29,4%
52,5%
55,9%
80
DARIM
42
8
50
68
61,8%
100,0%
73,5%
42
ERMA
13
1
14
36
36,1%
65,0%
38,9%
20
FINNRIMA
21
16
37
95
22,1%
38,2%
38,9%
55
IGREA
11
5
16
33
33,3%
55,0%
48,5%
20
MARM
8
7
15
34
23,5%
40,0%
44,1%
20
NARIM
33
26
59
157
21,0%
41,3%
37,6%
80
NORIMA
11
7
18
48
22,9%
40,7%
37,5%
27
POLRISK
24
16
40
93
25,8%
51,1%
43,0%
47
RUSRISK
19
4
23
55
34,5%
70,4%
41,8%
27
SI.RISK
9
1
10
13
69,2%
112,5%
76,9%
8
SIRM
26
14
40
75
34,7%
57,8%
53,3%
45
SWERMA
43
29
72
186
23,1%
45,3%
38,7%
95
PARTNER
AXA Corporate Solutions- FR
10
17
27
146
6,8%
18,5%
AXA Corporate Solutions- DE
22
43
65
182
12,1%
35,7%
AXA Corporate Solutions-SP
6
4
10
25
24,0%
40,0%
AXA Corporate Solutions-UK
8
19
27
193
4,1%
14,0%
AXA Corporate Solutions-BE
12
13
25
70
17,1%
35,7%
EY
0
1
1
1
0,0%
100,0%
XL Group
3
2
5
8
37,5%
62,5%
Zurich Insurance
0
0
0
N/A
N/A
N/A
Marsh- Poland
0
2
2
200
0,0%
1,0%
Marsh- Romania
7
22
29
200
3,5%
14,5%
Others
5
3
8
11
45,5%
72,7%
Total National Associations
559
390
949
3 032
18,4%
52,8%
31,3%
1 059
TOTAL
632
516
1 148
4 068
15,5%
28,2%
1 059
A respondent is considered complete if his status is complete for all the parts of the questionnaire.

6. In collaboration with :
Sample - Introduction
A respondent is considered complete for the introduction part if he/she has answered for all the questions of the introduction part.
6
ASSOCIATION
Complete
Incomplete
Total respondents
Total invited
Complete Rate (Complete / Total invited)
Response Rate (Total respondents / Total invited)
AGERS
24
5
29
50
48,0%
58,0%
AIRMIC
127
36
163
1 058
12,0%
15,4%
ALRIM
2
2
4
9
22,2%
44,4%
AMRAE
116
38
154
610
19,0%
25,2%
ANRA
43
8
51
110
39,1%
46,4%
APOGERIS
9
4
13
50
18,0%
26,0%
ASPAR
2
3
5
16
12,5%
31,3%
BELRIM
43
13
56
93
46,2%
60,2%
BFV-DVS
57
23
80
143
39,9%
55,9%
DARIM
44
6
50
68
64,7%
73,5%
ERMA
14
0
14
36
38,9%
38,9%
FINNRIMA
23
14
37
95
24,2%
38,9%
IGREA
15
1
16
33
45,5%
48,5%
MARM
11
4
15
34
32,4%
44,1%
NARIM
45
14
59
157
28,7%
37,6%
NORIMA
12
6
18
48
25,0%
37,5%
POLRISK
29
11
40
93
31,2%
43,0%
RUSRISK
19
4
23
55
34,5%
41,8%
SI.RISK
10
0
10
13
76,9%
76,9%
SIRM
33
7
40
75
44,0%
53,3%
SWERMA
58
14
72
186
31,2%
38,7%
PARTNER
AXA Corporate Solutions- FR
14
13
27
146
9,6%
18,5%
AXA Corporate Solutions- DE
37
28
65
182
20,3%
35,7%
AXA Corporate Solutions-SP
8
2
10
25
32,0%
40,0%
AXA Corporate Solutions-UK
14
13
27
193
7,3%
14,0%
AXA Corporate Solutions-BE
17
8
25
70
24,3%
35,7%
EY
1
0
1
1
100,0%
100,0%
XL Group
4
1
5
8
50,0%
62,5%
Zurich Insurance
0
0
0
N/A
N/A
N/A
Marsh- Poland
0
2
2
200
0,0%
1,0%
Marsh- Romania
12
17
29
200
6,0%
14,5%
Others
7
1
8
11
63,6%
72,7%
Total National Associations
736
213
949
3 032
24,3%
31,3%
TOTAL
850
298
1 148
4 068
20,9%
28,2%

7. In collaboration with :
Sample – 1st Part
A respondent is considered complete for the 1st part if he/she has answered for all the questions of the 1st part.
7
ASSOCIATION
Complete
Incomplete
Total respondents
Total invited
Complete Rate (Complete / Total invited)
Response Rate (Total respondents / Total invited)
AGERS
21
8
29
50
42,0%
58,0%
AIRMIC
96
67
163
1 058
9,1%
15,4%
ALRIM
1
3
4
9
11,1%
44,4%
AMRAE
93
61
154
610
15,2%
25,2%
ANRA
38
13
51
110
34,5%
46,4%
APOGERIS
6
7
13
50
12,0%
26,0%
ASPAR
1
4
5
16
6,3%
31,3%
BELRIM
35
21
56
93
37,6%
60,2%
BFV-DVS
48
32
80
143
33,6%
55,9%
DARIM
41
9
50
68
60,3%
73,5%
ERMA
12
2
14
36
33,3%
38,9%
FINNRIMA
22
15
37
95
23,2%
38,9%
IGREA
13
3
16
33
39,4%
48,5%
MARM
7
8
15
34
20,6%
44,1%
NARIM
39
20
59
157
24,8%
37,6%
NORIMA
10
8
18
48
20,8%
37,5%
POLRISK
21
19
40
93
22,6%
43,0%
RUSRISK
13
10
23
55
23,6%
41,8%
SI.RISK
9
1
10
13
69,2%
76,9%
SIRM
30
10
40
75
40,0%
53,3%
SWERMA
49
23
72
186
26,3%
38,7%
PARTNER
AXA Corporate Solutions- FR
11
16
27
146
7,5%
18,5%
AXA Corporate Solutions- DE
21
44
65
182
11,5%
35,7%
AXA Corporate Solutions-SP
5
5
10
25
20,0%
40,0%
AXA Corporate Solutions-UK
9
18
27
193
4,7%
14,0%
AXA Corporate Solutions-BE
13
12
25
70
18,6%
35,7%
EY
0
1
1
1
0,0%
100,0%
XL Group
3
2
5
8
37,5%
62,5%
Zurich Insurance
0
0
0
N/A
N/A
N/A
Marsh- Poland
0
2
2
200
0,0%
1,0%
Marsh- Romania
7
22
29
200
3,5%
14,5%
Others
7
1
8
11
63,6%
72,7%
Total National Associations
605
344
949
3 032
20,0%
31,3%
TOTAL
681
467
1 148
4 068
16,7%
28,2%

8. In collaboration with :
Sample – 2nd Part
A respondent is considered complete for the 2nd part if he/she has answered for all the questions of the 2nd part.
8
ASSOCIATION
Complete
Incomplete
Total respondents
Total invited
Complete Rate (Complete / Total invited)
Response Rate (Total respondents / Total invited)
AGERS
9
20
29
50
18,0%
58,0%
AIRMIC
39
124
163
1 058
3,7%
15,4%
ALRIM
0
4
4
9
0,0%
44,4%
AMRAE
55
99
154
610
9,0%
25,2%
ANRA
14
37
51
110
12,7%
46,4%
APOGERIS
3
10
13
50
6,0%
26,0%
ASPAR
0
5
5
16
0,0%
31,3%
BELRIM
17
39
56
93
18,3%
60,2%
BFV-DVS
12
68
80
143
8,4%
55,9%
DARIM
23
27
50
68
33,8%
73,5%
ERMA
11
3
14
36
30,6%
38,9%
FINNRIMA
15
22
37
95
15,8%
38,9%
IGREA
6
10
16
33
18,2%
48,5%
MARM
6
9
15
34
17,6%
44,1%
NARIM
13
46
59
157
8,3%
37,6%
NORIMA
1
17
18
48
2,1%
37,5%
POLRISK
15
25
40
93
16,1%
43,0%
RUSRISK
7
16
23
55
12,7%
41,8%
SI.RISK
7
3
10
13
53,8%
76,9%
SIRM
16
24
40
75
21,3%
53,3%
SWERMA
16
56
72
186
8,6%
38,7%
PARTNER
AXA Corporate Solutions- FR
6
21
27
146
4,1%
18,5%
AXA Corporate Solutions- DE
6
59
65
182
3,3%
35,7%
AXA Corporate Solutions-SP
4
6
10
25
16,0%
40,0%
AXA Corporate Solutions-UK
2
25
27
193
1,0%
14,0%
AXA Corporate Solutions-BE
3
22
25
70
4,3%
35,7%
EY
0
1
1
1
0,0%
100,0%
XL Group
3
2
5
8
37,5%
62,5%
Zurich Insurance
0
0
0
N/A
N/A
N/A
Marsh- Poland
0
2
2
200
0,0%
1,0%
Marsh- Romania
2
27
29
200
1,0%
14,5%
Others
4
4
8
11
36,4%
72,7%
Total National Associations
285
664
949
3 032
9,4%
31,3%
TOTAL
315
833
1 148
4 068
7,7%
28,2%

9. In collaboration with :
Sample – 3rd Part
A respondent is considered complete for the 3rd part if he/she has answered for all the questions of the 3nd part.
9
ASSOCIATION
Complete
Incomplete
Total respondents
Total invited
Complete Rate (Complete / Total invited)
Response Rate (Total respondents / Total invited)
AGERS
11
18
29
50
22,0%
58,0%
AIRMIC
61
102
163
1 058
5,8%
15,4%
ALRIM
0
4
4
9
0,0%
44,4%
AMRAE
48
106
154
610
7,9%
25,2%
ANRA
25
26
51
110
22,7%
46,4%
APOGERIS
3
10
13
50
6,0%
26,0%
ASPAR
1
4
5
16
6,3%
31,3%
BELRIM
26
30
56
93
28,0%
60,2%
BFV-DVS
37
43
80
143
25,9%
55,9%
DARIM
24
26
50
68
35,3%
73,5%
ERMA
6
8
14
36
16,7%
38,9%
FINNRIMA
11
26
37
95
11,6%
38,9%
IGREA
9
7
16
33
27,3%
48,5%
MARM
5
10
15
34
14,7%
44,1%
NARIM
32
27
59
157
20,4%
37,6%
NORIMA
6
12
18
48
12,5%
37,5%
POLRISK
9
31
40
93
9,7%
43,0%
RUSRISK
5
18
23
55
9,1%
41,8%
SI.RISK
5
5
10
13
38,5%
76,9%
SIRM
25
15
40
75
33,3%
53,3%
SWERMA
28
44
72
186
15,1%
38,7%
PARTNER
AXA Corporate Solutions- FR
7
20
27
146
4,8%
18,5%
AXA Corporate Solutions- DE
15
50
65
182
8,2%
35,7%
AXA Corporate Solutions-SP
5
5
10
25
20,0%
40,0%
AXA Corporate Solutions-UK
7
20
27
193
3,6%
14,0%
AXA Corporate Solutions-BE
11
14
25
70
15,7%
35,7%
EY
0
1
1
1
0,0%
100,0%
XL Group
3
2
5
8
37,5%
62,5%
Zurich Insurance
0
0
0
N/A
N/A
N/A
Marsh- Poland
0
2
2
200
0,0%
1,0%
Marsh- Romania
2
27
29
200
1,0%
14,5%
Others
3
5
8
11
27,3%
72,7%
Total National Associations
377
572
949
3 032
12,4%
31,3%
TOTAL
430
718
1 148
4 068
10,6%
28,2%

10. In collaboration with :
Sample
850
681
315
430
174
343
709
594
1024
1024
1024
1024
Introduction
European insights on risk
management practices
European perspective
Evolution of the Insurance Market and Risk Managers’ Expectations
Total number of respondents for each part (complete + incomplete)
Complete
Incomplete
10

11. In collaboration with :
Introduction
850
681
315
430
Introduction
European insights on
risk management
practices
European perspective
Evolution of the Insurance Market and Risk Managers’ Expectations
Number of complete respondents
11

12. In collaboration with :
Sample
A representative sample of European companies
Female 27%
Male 73%
S1: Are you?
Basis: 850
0,1%
3,4%
7,2%
31,3%
37,8%
12,9%
7,3%
Less than 25 years old
Between 25 and 30 years
old
Between 31 and 35 years
old
Between 36 and 45 years
old
Between 46 and 55 years
old
Between 56 and 60 years
old
60+ years old
S2 - What is your age ?
12

13. In collaboration with :
Sample
A representative sample of European companies
Basis: 850
18%
17%
18%
12%
15%
11%
9%
Less than €60
Between €60 - €80
Between €81 - €100
Between €101 - €120
Between €121 - €150
Between €151 - €200
More than €200
S3 - What is your total annual remuneration (including bonus and all compensations) (in thousands €) ?
13

14. In collaboration with :
Sample
A representative sample of European companies
Manufacturing 18%
Energy / utilities 15%
Technology and Telecoms 8%
Transportation / logistics 8%
Banking and Financial Services 7%
Public sector and non-profit 5%
Insurance 5%
Professional and Business Services 5%
Retail 5%
Automotive 4%
Food and Beverages 4%
Pharmaceuticals and Life Sciences 3%
Other 13%
Q1: Respondents by industry
Basis: 850
14
Other
106
12,47%
Consumer Goods
25
2,94%
Government Contracting
24
2,82%
Real Estate
20
2,35%
Mining
15
1,76%
Healthcare
8
0,94%
Sports, Media and Entertainment
8
0,94%
Hospitality and Leisure
6
0,71%

15. In collaboration with :
Sample
A representative sample of European companies
3%
9%
11%
9%
30%
38%
No opinion / Don't know
Less than €100 million
Between €100 million and less than €500 million
Between €500 million and less than €1 billion
Between €1 billion and €5 billion
More than €5 billion
1%
16%
22%
11%
13%
37%
No opinion / Don't know
Less than 1000
Between 1000 and 5,000
Between 5,001 and 10,000
Between 10,001 and 20,000
More than 20,000
Q2.2 - Organization’s total number of employees:
Q2.1 - Organization’s turnover:
Basis: 850
15

16. In collaboration with :
Sample
A representative sample of European companies
31,2%
6,8%
15,2%
11,9%
10,4%
4,5%
6,4%
8,6%
5,2%
No opinion / Don't know
Negative
Between 0 and 2.5%
Between 2.6 and 4%
Between 4.1 and 6.5%
Between 6.6 and 7.5%
Between 7.6 and 10%
Between 10.1% and 20%
More than 20%
Q2.3 - Organization’s average EBITDA growth rate for the period between 2009 and 2012
Basis: 850
16

17. In collaboration with :
Sample
A representative sample of European companies
0,1%
0,4%
0,4%
1,8%
2,5%
94,9%
Latin America
Africa
Middle East
Asia / Pacific
North America
Europe
0,0%
0,2%
0,4%
0,4%
0,5%
98,6%
Latin America
Middle East
Africa
North America
Asia / Pacific
Europe
Q3.2 - Where are you located ?
Q3.1 - Where are your organization’s headquarters ?
Basis: 850
17

18. In collaboration with :
Sample
A representative sample of European companies
0,0%
0,1%
0,2%
0,2%
0,2%
0,4%
0,5%
6,5%
6,7%
85,2%
Don't know
Invalid
Production/production site
Insurance services
Central services
Financial services
Other
National/ Country Organization
Division OR Regional Organization
Corporate (Head Office)
Q3.3 - Which part of the organization do you work in ?
Basis: 850
18

19. In collaboration with :
Sample
A representative sample of European companies
Q4 - Is your organization listed on the stock market ?
Yes 51%
No 48%
No opinion / Don't know 1%
Basis: 850
19

20. In collaboration with :
Sample
A representative sample of European companies
Q5.3 - My organization is a member of one of the following Risk Management associations : (Multiple Answer)
0%
0%
0%
0%
0%
0%
1%
1%
1%
1%
1%
2%
2%
2%
2%
3%
3%
4%
4%
5%
5%
5%
6%
7%
7%
7%
14%
16%
16%
Don't know
Invalid
IRM
PARIMA
ASPAR CZ, Czech Republic
ALRIM, Luxembourg
Other
APOGERIS, Portugal
SI.RISK, Slovenia
MARM, Malta
ERMA, Turkey
NORIMA, Norway
RUSRISK, Russia
FINNRIMA, Finland
IGREA, Spain
POLRISK, Poland
AGERS, Spain
RIMS, United States
ANRA, Italy
SIRM, Switzerland
BFV, Germany
DARIM, Denmark
BELRIM, Belgium
SWERMA, Sweden
DVS, Germany
NARIM, Netherlands
None
AIRMIC, UK
AMRAE, France
Basis: 850
20

21. In collaboration with :
Sample: Respondents
A representative sample of European companies
0,0%
0,0%
0,1%
0,1%
0,1%
0,2%
0,2%
0,4%
0,5%
0,5%
0,5%
0,5%
0,7%
0,7%
0,9%
1,1%
1,6%
1,8%
2,4%
2,5%
2,9%
3,3%
4,2%
5,2%
12,5%
58,1%
Security Manager
Don't know
Fraud Control
Corporate Development Manager
Invalid
Claims Manager
Procurement Manager
University teacher
Chief Operating Officer
Manager (health and safety manager)
Head of Compliance / Compliance…
Consultant
President, Chairman
General / Company Secretary
Captive manager
Business Continuity Manager
Chief Financial Officer / Finance…
Head of Treasury / Treasury manager
Legal Counsel / Head of Legal…
Head of Internal Audit / Audit Manager
Chief Executive Officer / Managing…
Other
Risk Manager/officer/advisor
Insurance Manager
Chief Risk Officer /Head of Risk
Risk and Insurance manager
Q5.bis - What is your position in your team ?
Q5.1 - Respondent primary position
Team leader 77%
Team member 23%
Basis: 850
21

22. In collaboration with :
Sample: Respondents
A representative sample of European companies
Q5.2 - Where is your specific qualification in Risk Management or Insurance from ? (Multiple Answer)
Q5.1ter - Do you have a specific qualification in Risk or Insurance Management ?
Yes 56%
No 44%
0,0%
0,0%
0,2%
0,2%
0,2%
0,2%
0,4%
0,6%
0,6%
0,6%
1,0%
1,0%
1,0%
1,5%
1,7%
1,9%
3,1%
3,8%
6,0%
9,0%
25,2%
30,8%
35,6%
French National School of Insurance…
Don't know
BCI
Banking industry
CRISC
CIA
IVASS
CRMA
CINEAS
Invalid
Broker/Broker Education
FCI/FCII
Nibe SVV
Specialist courses
Qualification as insurance…
Institute of Internal Auditors (IIA)
Industry/on the job experience
Institute of Risk Management (IRM)
Chartered Insurance Institute (CII, ACII)
Other
Business School
A national risk management…
University
Basis: 480
Basis: 850
22
Yes on Q5.1ter only

23. In collaboration with :
Sample: Respondents
A representative sample of European companies
Q5.5 - What job(s) did you do before your current role ? (Multiple Answer)
Q5.4 - How long have you been in this role ?
Less than 3 years 25%
Between 3 and 10 years 49%
More than 10 years 26%
0,0%
0,0%
0,2%
0,2%
0,2%
0,2%
0,2%
0,2%
0,2%
0,2%
0,2%
0,2%
0,3%
0,3%
0,3%
0,5%
0,7%
0,9%
1,2%
1,4%
1,9%
2,1%
2,1%
2,3%
2,4%
4,0%
4,5%
5,9%
6,1%
68,1%
Commercial
Security Officer
Acquisitions
Economist
Energy
Human ressources
Marketing
Pensions
Politics
Risk consulting
Statistician
Tax
Business analyst
Customer Relations
IT
Strategy
Security management
Controlling
Quality / Project Management
Treasury
Finance
Insurance / Broker / Banking
Legal consoulting
This is the first job in my career
Internal control
Audit
Manager
Other
Operational, (e.g. Logistics, engineering, manufacturing,…
Risk management /insurance /claims related roles
Basis: 574
23
Basis: 574
Filter on Q5.1

24. In collaboration with :
Sample: Respondents
A representative sample of European companies
Q5.5 - Operational, (e.g. Logistics, engineering, manufacturing, etc.) DETAILS
21%
18%
12%
12%
9%
6%
3%
3%
3%
3%
3%
3%
3%
3%
0%
0%
Basis: 35
24

25. In collaboration with :
Sample: Respondents
A representative sample of European companies
Q5.5.1 - Overall, how many years have you worked in the risk management / insurance area ?
1%
13%
43%
43%
Less than 3
years
Between 3 and
9 years
Between 10
and 20 years
More than 20
years
Basis: 391
25
Filter on Q5.5

26. In collaboration with :
Risk Management Function
Q6.1 - Full time equivalent people working for Risk Management or Insurance as part of the Risk Management Function
7%
11%
46%
33%
16%
15%
13%
13%
8%
8%
9%
18%
1%
2%
headquarters
regional and / or national
No staff
1 to 3
4 to 5
6 to 10
11 to 20
More than 20
No opinion/ Don't know
Basis: 129
Basis: 741
26
Filter on Q3.3

27. In collaboration with :
Risk Management Function
Q6.2 - In total, how many people in your organization that work outside the Risk Management participate in risk / insurance management in close coordination with the Risk Management function or have risk management / insurance specified in their job profile
12,8%
29,9%
25,9%
15,1%
9,6%
6,7%
risk / insurance management participation
No staff
1 to 5 people
6 to 20 people
21 to 80 people
Over 80 people
No opinion/ Don't know
Basis: 850
27

28. In collaboration with :
Risk Management Function
Don’t know 9%
Yes 39%
No 52%
33,4%
39,2%
61,4%
41,3%
5,1%
19,6%
Traditional Lines of
Cover
Non-traditional Lines of
Cover
More important
Identical
Less important
Q7.1 - Involvement of the captive in over the next 2 years
Q7 - Does your organization use (own or rent) a captive ?
Basis: 850
Basis: 332
28
Yes on Q7 only

29. In collaboration with :
Risk Management Function
Don’t know 9%
Yes 39%
No 52%
Q7.2 - Strategy in regards to risks which are difficult to place on the insurance market
Q7 Does your organization use (own or rent) a captive ?
7%
21%
42%
30%
Create a captive insurance
/ re-insurance company
Use alternative risk transfer
vehicles
Risk retention
No opinion/Don't know
Basis: 850
Basis: 444
29
No on Q7 only

30. In collaboration with :
Risk Management Function
Q8.1 - Are you able to indicate your organizations or group’s Cost of Risk in 2013 (in Euros) for each of the following activities?
72%
35%
43%
63%
52%
46%
44%
29%
28%
65%
57%
37%
48%
54%
56%
71%
General lines
Health and
Benefits
Retained losses
Broker fees
Claims
administration
feesRisk
consultancy
Risk
management
and insurance
systems and
software
Other expenses
Captive annual
administration
cost
NO
YES
Basis: 850
30

31. In collaboration with :
A representative sample of European companies
Q8.3 - Could you please indicate your best estimate of the total cost of risk in 2013 (in Euros)?
17,7%
16,0%
14,0%
13,0%
6,3%
6,0%
4,2%
3,7%
3,3%
2,8%
2,1%
1,6%
1,6%
1,4%
1,4%
1,4%
1,2%
0,9%
0,7%
0,7%
0,0%
0,0%
0,0%
Basis: 430
31
Risk Management Function

32. In collaboration with :
Part 1 :European insights on risk management practices
850
681
315
430
Introduction
European insights on
risk management
practices
European perspective
Evolution of the Insurance Market and Risk Managers’ Expectations
Number of respondents
32

33. In collaboration with :
Risk Management/Insurance report
7,0%
6,6%
3,1%
5,0%
2,1%
7,3%
3,5%
3,1%
1,6%
22,2%
16,7%
17,9%
3,8%
0,9%
6,6%
4,4%
10,6%
1,2%
10,7%
4,0%
3,8%
2,1%
31,3%
11,7%
11,9%
0,9%
Risk Committee
Other
No opinion / Don't know
Head of Treasury
Head of Internal Audit
General Counsel
General
Chief Risk Officer
Chief Operating Officer
Chief Financial Officer
Chief Executive Officer
Board of Directors
Audit Committee
Insurance
Risk Management
Q9ALL - To whom does your organization’s Head of Risk Management / Insurance report?
Basis: 681
33

34. In collaboration with :
Risk Management/Insurance report
0,0%
0,1%
0,1%
0,1%
0,1%
0,1%
0,1%
0,1%
0,3%
0,3%
0,3%
0,4%
0,4%
0,4%
0,6%
0,9%
1,6%
2,3%
3,1%
3,5%
3,5%
3,8%
5,0%
7,3%
7,6%
17,0%
18,1%
23,9%
VP in Business Development
Group Controller/Head of Control
Commercial Assurance Director
Shared Services Director
VP Financial Compliance
General partner
Vice President
Invalid
Corporate Affairs Director
Chief Controlling Officer
HR director
No single reporting line
Procurement manager
Other
Head of finance
Director general for administration
Chief Operating Officer
Head of Internal Audit
Don't know
General / Company Secretary
Chief Risk Officer/Head of Operation Risk
Audit Committee
Head of Treasury
Risk Committee/Group risk management
General Counsel / Head of Legal Department
Chief Executive Officer / Managing Director
Board of Directors / Supervisory Board/Corporate Governance
Chief Financial Officer/Group Financial Controller (CFO)
Q9A - To whom does your organization’s Head of Risk Management ?
Basis: 681
34

35. In collaboration with :
Risk Management/Insurance report
0,0%
0,0%
0,0%
0,1%
0,1%
0,1%
0,1%
0,1%
0,1%
0,1%
0,3%
0,3%
0,3%
0,4%
0,6%
0,9%
0,9%
1,2%
1,5%
2,1%
4,0%
4,1%
10,6%
11,0%
11,0%
12,0%
12,0%
32,7%
VP in Business Development
Vice President
Invalid
Group Controller/Head of Control
Commercial Assurance Director
Shared Services Director
VP Financial Compliance
General partner
Procurement manager
HR director
Corporate Affairs Director
Chief Controlling Officer
Director general for administration
No single reporting line
Head of finance
Audit Committee
Other
Risk Committee/Group risk management
Head of Internal Audit
Chief Operating Officer
General / Company Secretary
Chief Risk Officer/Head of Operation Risk
Head of Treasury
General Counsel / Head of Legal Department
Don't know
Board of Directors / Supervisory Board/Corporate Governance
Chief Executive Officer / Managing Director
Chief Financial Officer/Group Financial Controller (CFO)
Q9B - To whom does your organization’s Head of Insurance report?
Basis: 681
35

36. In collaboration with :
Risk management/insurance leader responsibility
32%
47%
54%
63%
69%
73%
75%
76%
84%
90%
Analysis of capital projects and delivering business plans
Definition of compliance policy
Design and implementation of risk financing strategy and
association solutions
Development and embedding of Business Continuity Management /
Emergency Management / Crisis Management / Incident response…
Alignment and integration of risk management as part of business
strategy
Development and implementation of Risk Culture across the
organization
Design and implementation of risk controls/prevention
Assistance to other functional areas in contract negotiation, project
management, acquisitions and investments
Development of map of risks: risk identification, analysis,
evaluation, prioritization and reporting
Insurance management and claims handling / insurable loss
prevention
Q10A - In your organization, which of the following activities are the responsibility of the risk management or insurance leader – and are they already embedded or planned?
RM’s or IM’s Responsibility - Yes
Basis: 681
36

37. In collaboration with :
Risk management/insurance leader responsibility
Q10B - In your organization, which of the following activities are the responsibility of the risk management or insurance leader – and are they already embedded or planned?
73,4%
56,5%
68,7%
86,9%
68,0%
34,2%
46,4%
55,2%
51,5%
47,3%
13,7%
19,5%
8,5%
4,0%
13,4%
9,1%
9,8%
20,1%
24,8%
14,7%
7,5%
14,1%
12,9%
3,7%
9,0%
31,3%
23,2%
14,2%
13,5%
20,0%
5,4%
9,8%
9,8%
5,4%
9,7%
25,4%
20,6%
10,4%
10,1%
18,1%
Development of map of risks: risk identification, analysis, evaluation,
prioritization and reporting
Alignment and integration of risk management as part of business strategy
Assistance to other functional areas in contract negotiation, project
management, acquisitions and investments
Insurance management and claims handling / insurable loss prevention
Design and implementation of risk controls/prevention
Analysis of capital projects and delivering business plans
Design and implementation of risk financing strategy and association
solutions
Development and implementation of Risk Culture across the organization
Development and embedding of Business Management
Definition of compliance policy
Embedded
Planned for 2014/15
Not planned
No opinion
Basis: 681
37

38. In collaboration with :
Risk management/insurance leader interactions
Q11 - How does your organization’s risk manager interact with the board of directors and/or top management ?
Formally presents to the board of directors and top management several times per year 45%
Formally presents to the board of directors and top management once a year 18%
Meets board and/or top management members on a requested basis 23%
There is no mechanism in place to formally report about risk management 9%
No opinion / Don't know 5%
Basis: 681
38

39. In collaboration with :
Risk management/insurance leader interactions
Q12.1 - Please tell us the relation of your organization’s risk management / insurance function with other areas / issues. (1/6)
No relationship 43,3%
Regular, close collaboration 34,7%
Risk mgr's own responsibility 9%
Not applicable 13,2%
Strategic planning business
No relationship 19,4%
Regular, close collaboration 57,4%
Risk mgr's own responsibility 14,4%
Not applicable 8,8%
Ethics / Compliance / Legal
Basis: 681
39

40. In collaboration with :
Risk management/insurance leader interactions
Q12.1 - Please tell us the relation of your organization’s risk management / insurance function with other areas / issues. (2/6)
No relationship 39,9%
Regular, close collaboration 33,8%
Risk mgr's own responsibility 12,0%
Not applicable 14,2%
Corporate Social Responsibility Sustainability
No relationship 11,5%
Regular, close collaboration 52,0%
Risk mgr's own responsibility 28,2%
Not applicable 8,4%
Business Continuity / Crisis Management
Basis: 681
40

41. In collaboration with :
Risk management/insurance leader interactions
Q12.1 - Please tell us the relation of your organization’s risk management / insurance function with other areas / issues. (3/6)
No relationship 19,5%
Regular, close collaboration 55,1%
Risk mgr's own responsibility 16,3%
Not applicable 9,1%
Internal Control / Internal Audit
No relationship 41,4%
Regular, close collaboration 36,1%
Risk mgr's own responsibility 9,4%
Not applicable 13,1%
IT- for major projects
Basis: 681
41

42. In collaboration with :
Risk management/insurance leader interactions
Q12.1 - Please tell us the relation of your organization’s risk management / insurance function with other areas / issues. (4/6)
No relationship 36,4%
Regular, close collaboration 40,4%
Risk mgr's own responsibility 8,8%
Not applicable 14,4%
Investments and investors relations
No relationship 23,9%
Regular, close collaboration 52,0%
Risk mgr's own responsibility 9,0%
Not applicable 15,1%
Mergers & Acquisitions – for acquisitions / transfers decisions
Basis: 681
42

43. In collaboration with :
Risk management/insurance leader interactions
Q12.1 - Please tell us the relation of your organization’s risk management / insurance function with other areas / issues. (5/6)
No relationship 33,2%
Regular, close collaboration 44,8%
Risk mgr's own responsibility 10,7%
Not applicable 11,3%
Sourcing / Procurementted
No relationship 26,0%
Regular, close collaboration 48,5%
Risk mgr's own responsibility 7,8%
Not applicable 17,8%
Manufacturing / Logistics / Distribution / Quality
Basis: 681
43

44. In collaboration with :
Risk management/insurance leader interactions
Q12.1 - Please tell us the relation of your organization’s risk management / insurance function with other areas / issues. (6/6)
No relationship 5,0%
Regular, close collaboration 32,9%
Risk mgr's own responsibility 57,4%
Not applicable 4,7%
Insurance Managementted
No relationship 39,1%
Regular, close collaboration 38,3%
Risk mgr's own responsibility 7,9%
Not applicable 14,7%
HR - Employee Benefitsted
Basis: 681
44

45. In collaboration with :
Risk management/insurance
organization
Q13 - Which of the following potential organization forms most closely describes that of your company ?
7%
23%
40%
7%
8%
15%
all functions
together in a
single
department
all functions
separate in
four different
departments
Risk and
Insurance
Management
together
Risk
Management
and Internal
Control
together
Internal Audit
separate
Insurance
Management
separate
Basis: 681
45

46. In collaboration with :
Risk management/insurance
organization
Q14 - To what extent does your organization prioritize risks by mapping them ?
20,4%
51,8%
5,3%
9,4%
7,9%
5,1%
On a global
corporate level
only (strategic,
financial and
operational)
From
corporate level
down to
divisions and
business units
Only for
certain
business units
Only for
certain
categories of
risks
No such
approach has
been put in
place yet
No opinion /
Don't know
Basis: 681
46

47. In collaboration with :
Risk management/insurance
organization
Q15 - For which of the areas below does your organization provide training on a regular basis ? (Multiple Answer)
0,0%
0,0%
0,0%
0,0%
0,1%
0,1%
0,1%
0,1%
0,3%
0,3%
0,6%
0,6%
1,5%
19,2%
21,0%
27,8%
44,2%
57,1%
Basis: 681
47

48. In collaboration with :
Risk management/insurance
organization
Q16 - Do you use IT / GRC (Governance, Risk and Compliance) tools to manage the following Risk Management / insurance activities? (YES)
47%
46%
43%
27%
46%
52%
47%
Risk mapping
Risk registers
Risk quantification
Risk appetite and tolerance
Claims analysis
Risk reporting / Risk dashboards
Monitoring of risk mitigation actions / controls
Basis: 681
48

49. In collaboration with :
Part 2: European perspective
850
681
315
430
Introduction
European insights on
risk management
practices
European perspective
Evolution of the Insurance Market and Risk Managers’ Expectations
Number of respondents
49

50. In collaboration with :
Top 10 risks and level of mitigation
39%
39%
41%
45%
46%
47%
50%
51%
52%
59%
Debt, cash flow
Quality (design, safety & liability of products &
services)
Human resources / key people, social security
(labour)
Planning and execution of strategy
Market strategy, clients
Economic
Competition
Regulation and legislation
Reputation and brand
Political - Government intervention, legal and
regulatory changes
Q17 - What are the top ten risks that keep your CEO awake at night? (Multiple Answer, list of 33 items)
Basis: 315
50

51. In collaboration with :
Top 10 risks and level of mitigation
47,2%
50,0%
26,4%
38,0%
31,5%
24,2%
24,8%
31,7%
42,3%
27,6%
37,4%
39,5%
53,5%
45,1%
47,3%
51,0%
53,5%
47,8%
47,2%
37,8%
15,4%
10,5%
20,2%
16,9%
21,2%
24,8%
21,7%
20,5%
10,4%
34,6%
Debt, cash flow
Quality (design, safety & liability of products &…
Human resources / key people, social security…
Planning and execution of strategy
Market strategy, clients
Economic
Competition
Regulation and legislation
Reputation and brand
Political - Government intervention, legal and…
High
Mid
Low
Basis: 185
Basis: 163
Basis: 161
Basis: 157
Basis: 149
Basis: 146
Basis: 142
Basis: 129
Basis: 124
Basis: 123
Q19.1 - Please assess the current level of mitigation for the areas risks you have previously identified: Mitigation level
51

52. In collaboration with :
Top 10 risks and level of mitigation
56,9%
71,0%
58,9%
55,6%
57,5%
36,2%
41,4%
39,1%
66,3%
27,0%
13,8%
15,3%
13,2%
4,2%
6,8%
10,1%
3,8%
4,3%
4,9%
8,6%
29,3%
13,7%
27,9%
40,1%
35,6%
53,7%
54,8%
56,5%
28,8%
64,3%
Debt, cash flow
Quality (design, safety & liability of products &…
Human resources / key people, social security…
Planning and execution of strategy
Market strategy, clients
Economic
Competition
Regulation and legislation
Reputation and brand
Political - Government intervention, legal and…
Reduction
Transfer
Accepted
Q19.2 - Please assess the current level of mitigation for the areas risks you have previously identified: Mitigation strategy
Basis: 185
Basis: 163
Basis: 161
Basis: 157
Basis: 149
Basis: 146
Basis: 142
Basis: 129
Basis: 124
Basis: 123
52

53. In collaboration with :
Top 10 risks and level of mitigation
41,0%
46,0%
21,0%
29,0%
19,0%
17,0%
15,0%
20,0%
37,0%
16,0%
41,0%
44,0%
56,0%
54,0%
63,0%
62,0%
65,0%
55,0%
49,0%
54,0%
18,0%
10,0%
23,0%
17,0%
18,0%
21,0%
20,0%
25,0%
14,0%
30,0%
Debt, cash flow
Quality (design, safety & liability of products &…
Human resources / key people, social security…
Planning and execution of strategy
Market strategy, clients
Economic
Competition
Regulation and legislation
Reputation and brand
Political - Government intervention, legal and…
High
Low
Mid
Basis: 185
Basis: 163
Basis: 161
Basis: 157
Basis: 149
Basis: 146
Basis: 142
Basis: 129
Basis: 124
Basis: 123
Q19.3 - Please assess the current level of mitigation for the areas risks you have previously identified: Satisfaction level
53

54. In collaboration with :
FERMA priorities at EU level
Q20 - Among the following current regulatory matters, what should be the first 3 priorities for FERMA at EU level?
24%
26%
27%
29%
34%
38%
38%
38%
45%
Insurance Contract Law Expert Organization
Collective Redress in the European Union
Network & Information Security (NIS) Directive
Insurance Premium Tax (IPT)
The European Insurance Mediation Directive
(IMD 2)
The possibility of an EU-wide mandatory
financial security
Solvency 2 and the captive treatment
Annual reporting and transparency
Data Protection Regulation
Basis: 295
54
Optional for non-EU organisations

55. In collaboration with :
FERMA priorities at EU level
The possibility of an EU-wide mandatory financial security(bonds, letter of credit, provisions...) or an insurance scheme to cover some industrial incidents: 38%
61,6%
33,0%
42,9%
53,6%
23,2%
36,6%
29,5%
28,6%
15,2%
30,4%
27,7%
17,9%
Environmental
liabilities
Terrorism
Data breach or
information systems
incident
Natural catastrophes
YES
NO
No opinion / Don't know
Q21.1 - Do you think a mandatory financial security or an insurance scheme at EU level would help mitigate the consequences of the following types of risk in your country?
Basis: 112
55

56. In collaboration with :
FERMA priorities at EU level
Solvency 2 and the captive treatment: definition, proportionality and simplified rules and calculations for eligible captives 38%
Q22.1 - Do you anticipate rising costs in the use of a captive because of the future Solvency 2 rules ?
YES 88%
NO 12%
Basis: 113
56

57. In collaboration with :
FERMA priorities at EU level
Solvency 2 and the captive treatment: definition, proportionality and simplified rules and calculations for eligible captives 38%
Q22.2 - Do you believe this will eventually restrict the choice available to companies to transfer the risks to their captives ?
YES 75%
NO 25%
Basis: 113
57

58. In collaboration with :
FERMA priorities at EU level
Solvency 2 and the captive treatment: definition, proportionality and simplified rules and calculations for eligible captives 38%
Q22.3 - Do you believe this will eventually increase the need for traditional insurance capacities ?
YES 57%
NO 43%
Basis: 113
58

59. In collaboration with :
FERMA priorities at EU level
Solvency 2 and the captive treatment: definition, proportionality and simplified rules and calculations for eligible captives 38%
Q22.4 - Do you think Solvency 2 will favor the risks mitigation policies in companies, in interesting the management to reduce its expected losses ?
YES 55%
NO 45%
Basis: 113
59

60. In collaboration with :
FERMA priorities at EU level
Solvency 2 and the captive treatment: definition, proportionality and simplified rules and calculations for eligible captives 38%
Q22.5 - In your opinion, how will Solvency 2 change the interest in creating a captive ?
Increased 9,7%
Decreased 64,6%
Same 25,7%
Basis: 113
60

61. In collaboration with :
FERMA priorities at EU level
The European Insurance Mediation Directive (IMD 2) and the level of protection for the diversity of professional insurance buyers 34%
Q23 - Which level of consumer protection would be the most adequate?
48%
23%
15%
14%
Full mandatory
disclosure on
remunerations
and fees
On request
disclosure on
remunerations
and fees
On request
disclosure on
remunerations
and fees based on
the size of the
clients
Voluntary
disclosure
Basis: 100
61

62. In collaboration with :
FERMA priorities at EU level
Collective Redress in the European Union 28%
Q24.1 - Did your company have to face litigation as a consequence of the national collective redress regulation?
YES 7%
NO 93%
Basis: 76
62

63. In collaboration with :
FERMA priorities at EU level
Q24.2 - In your opinion, what are the most likely impacts of a collective redress regulation on business activities? (Multiple Answer)
37%
50%
16%
20%
26%
Increased
premiums on
product
liability
coverage
Increased
legal costs
Reduced risk
appetite for
innovations
Increased use
of Alternative
Dispute
Resolutions
(mediation,
arbitration...)
No
opinion/Don't
know
Collective Redress in the European Union 28%
Basis: 76
63

64. In collaboration with :
FERMA priorities at EU level
Q25.1 - In your opinion, which one of the new features of the Data Protection Regulation would have the strongest impact on your organization ?
33%
27%
18%
13%
9%
Possible
sanctions for
breaching the
Regulation up to
1,000,000 euros
or 2% worldwide
turnover
Appropriate
documentation
for all data
processing
activities and
available on
request to the
regulator
Mandatory data
breach
notification to
the regulator
Cross-border
businesses will
have to choose
only one
regulatory
authority that
supervises
activities across
all EU membe
The
appointment of
a Data
Protection
Officer for
companies over
250 employees
Data Protection Regulation 45%
Basis: 133
64

65. In collaboration with :
FERMA priorities at EU level
Annual reporting and transparency 38%
Q26.1 - Do you play an active role in providing input in the 'annual report' process, in particular about the risk section ?
YES 73%
NO 27%
Basis: 113
65

66. In collaboration with :
FERMA priorities at EU level
Annual reporting and transparency 38%
Q26.2 - In your opinion, how would a country by country reporting on profits made, taxes paid on profits and public subsidies received impact your organization ?
23%
49%
28%
Global competitiveness issue
Confidentiality issue regarding strategy
Business model and cross-border synergies
Basis: 113
66

67. In collaboration with :
FERMA priorities at EU level
Insurance Contract Law Expert organization 24%
Q27.1 - Do you believe a harmonization of insurance contract law in the European Union is needed ?
YES 87%
NO 13%
Basis: 71
67

68. In collaboration with :
FERMA priorities at EU level
Insurance Contract Law Expert organization 24%
Q27.2 - Do you think it will be an incentive to buy insurance products in other European countries ?
YES 85%
NO 15%
Basis: 71
68

69. In collaboration with :
FERMA priorities at EU level
Network & Information Security (NIS) Directive 27%
Q28.1 - Do you believe the reporting of NIS event... ?
42%
46%
12%
Increases the level of cybersecurity and should be extended to other
sectors than just critical infrastructures
Increases the level of cybersecurity but should remain only for critical
infrastructures
Does not bring any added value in terms of cybersecurity
Basis: 81
69

70. In collaboration with :
FERMA priorities at EU level
Insurance Premium Tax (IPT) 29%
Q29.1 - In your opinion, are the different IPT rates a barrier for insurers to provide organization-wide coverage ?
YES 49%
NO 51%
Basis: 86
70

71. In collaboration with :
FERMA priorities at EU level
Insurance Premium Tax (IPT) 29%
Q29.2 - Are you aware of how much IPT is being charged and in what countries in respect of your insurance risks? Are you satisfied this is the right amount ?
YES 52%
NO 48%
Basis: 86
71

72. In collaboration with :
FERMA priorities at EU level
Insurance Premium Tax (IPT) 29%
Q29.3 - Have you ever faced difficulties regarding the settlement of IPT for your company, regarding the localization of the risk (HQ / operational site) ?
YES 52%
NO 48%
Basis: 86
72

73. In collaboration with :
Part 3: Insurance: Evolution of the Insurance Market and Risk Managers’ Expectations
850
681
315
430
Introduction
European insights on
risk management
practices
European perspective
Evolution of the Insurance Market and Risk Managers’ Expectations
Number of respondents
73

74. In collaboration with :
Changes of Insurance Program
2%
6%
7%
24%
28%
30%
34%
43%
50%
No opinion / don't know
Purchase of credit insurance
None
Acceleration of claims settlement process
Selection of more financially robust insurers
Implementation or further use of captive facilities
Insurance buying pattern
Strengthen loss prevention activity
Negotiate long-term agreement or roll-over
Q30 - Which of the following changes to your insurance program will you consider as a result of the current financial and economic climate ? (Multiple Answer)
Basis: 430
74

75. In collaboration with :
Changes of Insurance Program
Q30.1 - Could you please define for each item below if it increases/decreases or stay identical?
55,2%
40,0%
52,4%
8,3%
16,6%
4,1%
36,6%
43,4%
43,4%
Retention level
Purchased limit
Lines of cover
Identical
Decrease
Increase
Insurance buying pattern: 34%
Basis: 145
75

76. In collaboration with :
Types of insurance
Q31 - What overall limit does your organization benefit from per annual aggregate, independent of sublimits, for the following types of insurance?
23,7%
21,4%
39,1%
40,7%
43,5%
19,3%
27,0%
24,4%
28,8%
13,3%
17,2%
5,1%
24,4%
22,1%
21,9%
4,9%
11,9%
2,3%
22,6%
21,4%
7,2%
4,7%
7,4%
1,4%
2,3%
10,7%
3,0%
36,5%
20,0%
71,9%
Public Liability
Product Liability
Directors' & Officers' Liability
Gradual Environmental impairment Liability
Errors & Omissions / Professional Liability
Cyber risk coverage
<50M EUR
50 – 100M EUR
101 –300M EUR
>300M EUR
No coverage
Basis: 430
76

77. In collaboration with :
Types of insurance
Q32 - How do you select your purchased limit per types of insurance ? (Multiple Answer)
77%
57%
45%
27%
20%
15%
3%
1%
1%
0%
0%
0%
Basis: 430
77

78. In collaboration with :
Types of insurance
Q33 - In your opinion, what is commonly the most efficient international insurance program for the following risks?
17%
10%
24%
3%
11%
15%
3%
9%
10%
5%
19%
11%
13%
15%
20%
19%
18%
35%
34%
40%
35%
11%
49%
8%
31%
35%
8%
40%
40%
42%
9%
14%
4%
43%
9%
6%
55%
2%
7%
4%
20%
54%
10%
31%
29%
25%
16%
14%
9%
9%
No opinion / don't know
Local standalone policies
only
Master policy & local policies
limited to selected countries
Master policy and local
policies in each country
where the insured is present
Master policy only, granting
coverage on a non-admitted
basis for international
operations
Basis: 430
78

79. In collaboration with :
Types of insurance
Q34 - What is your main reason for implementing local standalone policies in certain countries ?
4,2%
10,7%
11,6%
1,4%
2,6%
63,0%
6,5%
0,5%
Cost
implications
Service
proximity (of
insurers,
brokers, and
third parties)
Local risk
profile
Political and
economical
background
of the
country
Pressure of
local entity
to remain
out of the
program
Compliance
to local
regulation
Other
No opinion /
don't know
Basis: 430
79

80. In collaboration with :
Types of insurance
Q35 - With the exception of BRIC countries, please list the top the 1 or 2 countries in which you would like to see improvements in the local insurance offering
19%
11%
10%
10%
9%
8%
6%
6%
4%
4%
4%
4%
4%
4%
3%
3%
3%
3%
3%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
1%
1%
1%
1%
1%
Other
Brazil
Malaysia
Argentina
USA
Mexico
France
China
Russia
Nigeria
Italy
India
Turkey
Japan
Algeria
Africa(n) continent
The UAE (United Arab Emirates)
South Africa
Ukraine
Angola
Germany
UK
Chile
Indonesia
Switzerland
Egypt
Vietnam
Poland
Bulgaria
Venezuela
Belgium
Canada
Morocco
Romania
South Korea
Perú
Invalid
Dominican Rep
Maghrib
Don't know
Basis: 178
80
Exclusive option avalable

81. In collaboration with :
Types of insurance
Q36 - On average, at last renewal when were your policy documents issued in relation to the policy inception date for …?
Before inception date 18%
Within 1 month of inception date 33%
Within 3 months of inception date 35%
Over 3 months of inception date 14%
Master policy
Before inception date 10%
Within 1 month of inception date 29%
Within 3 months of inception date 43%
Over 3 months of inception date 18%
Local policy issuing
Basis: 430
81

82. In collaboration with :
Large claims handling
Q37A - What are the 3 main areas of improvement related to large claims handling? (Multiple Answer)
39%
22%
24%
17%
11%
8%
37%
14%
43%
14%
36%
17%
Policy wording tests
Set-up of claims handling procedure
Building relationships between insured, insurers and brokers
Pre-selection of lawyers and adjusters
Crisis management simulations
Return phone calls within 24 hours
Coordination between teams involved (in house, broker,…
Adequate and realistic reserve and evolution of reserve
Confirmation of position on coverage as quickly as reasonably…
30 days advanced payment once coverage is confirmed
Learnt lessons analysis
Automatic access to worldwide claims reporting
For your service providers (brokers, insurers, third parties)
Basis: 430
82

83. In collaboration with :
Large claims handling
Q37B - What are the 3 main areas of improvement related to large claims handling? (Multiple Answer)
19%
35%
20%
17%
34%
7%
37%
10%
10%
4%
56%
10%
Policy wording tests
Set-up of claims handling procedure
Building relationships between insured, insurers and brokers
Pre-selection of lawyers and adjusters
Crisis management simulations
Return phone calls within 24 hours
Coordination between teams involved (in house, broker,…
Adequate and realistic reserve and evolution of reserve
Confirmation of position on coverage as quickly as reasonably…
30 days advanced payment once coverage is confirmed
Learnt lessons analysis
Automatic access to worldwide claims reporting
Within your own organization
Basis: 430
83

84. In collaboration with :
Use(s) of risk and insurance
Q38 - Please select among the following items the most significant use(s) of risk and insurance related data. (Multiple Answer)
6%
20%
21%
23%
33%
44%
47%
57%
I do not conduct risk and insurance data analysis
Improve benchmarking abilities
Provide rationale for the risk management budget
Allow you to conduct captive optimization
Assess the cost of uninsured risks
Understand the company's risk appetite and tolerance
Allow you to conduct insurance program limit optimization
Allow you to conduct insurance program retention optimization
Basis: 430
84

85. In collaboration with :
Areas of improvement
Q39A - What are the top 2 areas of improvement you expect from a risk and insurance management IT platform / portal? (Multiple Answer)
24%
22%
38%
18%
44%
19%
15%
24/7 access
Daily update of activity & documents
Claims management tools
Interactivity
Tailor-made and user-friendly reporting…
Technical information/ advice/ best…
Management schedules / planning
In-house IT tool
Basis: 326
85
Filter on Q16

86. In collaboration with :
Areas of improvement
Q39A - What are the top 2 areas of improvement you expect from a risk and insurance management IT platform / portal? (Multiple Answer)
21%
26%
29%
27%
37%
31%
8%
24/7 access
Daily update of activity & documents
Claims management tools
Interactivity
Tailor-made and user-friendly reporting…
Technical information/ advice/ best…
Management schedules / planning
External IT solution (broker or insurer- provided)
Basis: 326
86
Filter on Q16

87. In collaboration with :
Thank you
87