Management Strategies in Multi-year Enterprise Risk Management
In enterprise risk management, strategies should be evaluated and managed from a multi-year view. In this paper, we present a multi-year model approach and apply a multi-year risk-capital concept to enable the company's “Own Risk and Solvency Assessment” as a part of enterprise risk management on a multi-year basis. We show under which assumptions an allocation method gives the “right” strategic incentives. We illustrate the usefulness of the concept for managerial decision support using data from a German non-life insurer.
Volume (Year): 36 (2011)
Issue (Month): 1 (January)
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