Horiens gives course in partnership with IBEF-RJ to disseminate the importance of risk management and insurance

The training included four modules and delved into the importance of the role of insurance in corporate risk management

The course “Insurance in the context of Corporate and Project Risk Management”, given by Márcio dos Santos, leader of Horiens’ risk analysis laboratory, Risk Labs, came to an end last week. Promoted by IBEF-Rio (Brazilian Institute of Finance Executives of Rio de Janeiro), the online training was divided into four modules – held on June 4, 5, 11 and 12 – for a total of 8 hours.

Aimed at CEOs, CFOs, Risk Managers and all professionals in areas related to risk management or insurance contracting, the course was attended by 25 participants, who were able to deepen their knowledge on topics such as: corporate and project risk management; concepts of appetite/tolerance and their relationship with risk treatment; the role of risk quantification in optimizing transfer and retention; and quantification possibilities according to types of uncertainty: random uncertainties and knowledge uncertainties.

According to Santos, risk analysis makes it possible to estimate the probabilities of the events identified, considering the existing controls and their respective consequences. “Today, risk management is not restricted to qualitative analysis. It is possible to do a much better job using, for example, machine learning and probabilistic simulation models, especially in high-risk projects involving millions or even billions of dollars. The risk management area is closely related to Governance, Risk and Compliance (GRC), but it wasn’t born out of governance, it was born committed to business and project performance.”

As Horiens’ Risk Labs leader pointed out, insurance and risk management are not separate agendas. “Our intention was to show the connection that exists between the risk management cycle and quantitative analysis for policies that are more appropriate to the reality of the company or project and thus improve the insurance policy.”

Santos emphasized the importance of this type of meeting to promote knowledge about risk analysis. “I’m glad that the subject has aroused people’s interest. Insurance is a fundamental tool in the corporate and project risk management strategy. The acquisition of this protection often does not require a careful risk analysis, which prevents an optimized transfer in line with the wishes of the corporation or the project,” he added.

Want to know more about Risk Labs? Click here.