We use a phased process depending on your needs, maturity level of existing ERM processes, and priorities. Our ERM platform is modular and scalable, allowing you to expand your capabilities and increase your level of ERM maturity at your pace.
Companies need to consider strategic and operational risks, which can be elusive. These risks often involve interactions among people, systems, and the external environment, making them much harder to quantify. Milliman has developed a proprietary methodology to help companies identify and manage potential threats and opportunities and understand their risk profiles relative to corporate objectives.
Milliman helps insurers, investment bankers, manufacturers, distributors, suppliers, and retailers quantify the hidden long-term cost of product liabilities and provides guidance on controlling and managing the cost of future exposures.
The intersection of strategic business units such as Legal, Finance, IT, HR, Compliance, Audit, etc. is crucial to a convergence of a corporate risk framework. Milliman can help your organisation create a corporate risk framework to align these functions and bring together strategic business units from across your company.
Milliman's unique governance, risk management, and compliance (GRC) platform is customisable and enables organisations to view and analyse their full spectrum of business risks in one place. Our GRC platform can integrate business processes for ERM, compliance, supply chain risk, counterparty credit risk, sustainability, crisis management, and internal audit.
Analyze unpaid claims liabilities with industry-leading stochastic and deterministic reserving tools and methods.
Automate and accelerate actuarial modeling and reporting with a powerful, cloud-based solution.
Manage threats and opportunities related to complex non-financial risks among people, systems, and the external environment.
Measure risk appetite and market rates and understand regulatory constraints for a strategic approach to risk retention.
Create an effective corporate risk framework to align across business units and mitigating cross-functional risks.