Zurich, a leading property & casualty insurance provider to technology
companies in North America1, announced today the launch of
Zurich Enterprise Risk Management (ERM) HealthCheck Tool. This new,
easy-to-use tool helps provide mid-size to large technology companies
with a realistic check of their current ERM preparedness. ERM promotes a
holistic, 360-degree approach to risk and opportunity management. It can
help to uncover and manage a company’s business challenges, including
operations and procedures, management styles and business strategies,
industry issues, emerging risks and more.
“Technology firms, by their nature, are particularly susceptible to a
variety of emerging, ever-changing risks that can, if not anticipated
and managed, jeopardize their profitability, or even their very
existence,” said David Allred, technology practice leader for Zurich
North America Commercial. “For example, many firms have complex global
supply chains that are susceptible to a variety of interruptions. ERM
can also look at things like labor relations or the ability to keep
research and development (R & D) efforts functioning in the event of a
physical loss at their facilities. With an effective ERM program in
place, technology firms will be better prepared to manage the risks and
challenges to profitability to enable improved strategic decision
Not only does the Zurich ERM HealthCheck Tool offer a high-level
assessment of a technology firm’s current ERM strategy and processes, it
also provides the user with some recommendations on how to improve
his/her businesses’ current ERM preparedness. This tool takes a broad
look at ERM, the commitments involved in implementing it effectively,
and the benefits that businesses can achieve as a result.
According to Linda Conrad, director of Strategic Business Risk for
Zurich Services Corporation, a well-developed ERM infrastructure can be
a real competitive advantage. Conrad said, "The objective of ERM is to
manage business resilience by 'putting your money where your risk is' so
companies can better leverage strategic business growth opportunities."
ERM can help businesses,
Protect tangible and intangible assets;
Minimize total cost of risk and barriers to achieving business
Maximize strategic growth opportunities;
Provide management assurance to regulators and stakeholders, and
Limit damage to their reputation.
To take the free assessment, go to https://www.zurichnac.com/technology-ERM.
Zurich in North America is a part of Zurich Financial Services Group
(Zurich), an insurance-based financial services provider with a global
network of subsidiaries and offices in North America and Europe as well
as in Asia Pacific, Latin America and other markets. Founded in 1872,
the Group is headquartered in Zurich, Switzerland and employs
approximately 60,000 people serving customers in more than 170
countries, including more than 9,500 employees in North America.
Zurich was the first overseas insurer to enter the U.S. market in 1912.
According to Highline Data LLC (NAIC 2008), Zurich in North America (www.zurichna.com)
is the second-largest writer of commercial general liability insurance
and the fourth-largest commercial property-casualty insurance company,
serving the global corporate, large corporate, middle market,
specialties and programs sectors. Zurich’s risk engineering services in
the United States are provided by Zurich Services Corporation.
1 Zurich insures 37 of the 44 technology companies in the
2009 Fortune 500.