Risk Control Self-Assessment: Identifying Risk at PT BRI Asuransi Indonesia

Discussions on risk management have been extensive across various companies internationally. However, much of the existing research data is outdated, with most studies conducted several years ago. This article aims to update previous research on the implementation of risk management, focusing on PT BRI Asuransi Indonesia. The company has implemented Risk Control Self-Assessment (RCSA), a key tool for its risk management framework. This tool is utilized to identify and subsequently control risks within work units. This study updates previous scholarship that focused solely on operational risk, in contrast, this study emphasizes risk management tools that leverage digitalization to mitigate the risks faced by the Company. This paper primarily addresses how risk management, specifically the risk assessment process, is implemented at PT BRI Asuransi Indonesia. It also explores the broader development of risk management in an international context. This study employs a netnography method, sourcing data from online platforms combined with existing literature. The findings reveal that PT BRI Asuransi Indonesia has adapted its risk assessment process to modern times by digitalizing it. The entire process, from identifying and assessing risks to implementing controls, is conducted digitally. Furthermore, risk assessment reports are accessible through the BRINESIA RCSA website. The assessments are based on real-time data from Branch Offices, enhancing risk awareness at the local level. These findings support previous studies which suggest that a thorough implementation of RCSA leads to more effective operations and minimized risks within work units.