Risk Mitigation, Monitoring and Reporting in Life Insurance Business

Abstract

A business value is created by identifying the risks in the business and developing the risk
mitigation plan. Only identification of risks is of little use unless an effective advance plan is
developed and implemented to reduce either the likelihood or impact or both of the events. In
this chapter, different methods of risk mitigation are discussed in the life insurance industry. The
chapter also discusses the utility of monitoring of risks and reporting.

Keywords: Risk Management, Risk Mitigation, Life Insurance, enterprise Risk Management, Operational Risk

JEL Classification: G20, G21, G22, G23, G24, G25, G26, G27, G28, G29