What if everything your organization calls “risk management” is actually making you poorer and more vulnerable? While companies worldwide pour billions into risk registers, ERM frameworks, and risk committees, they’re missing the most profound opportunity in modern business: transforming risk management from a cost center into a profit engine that could slash expenses and generate… Continue reading Risk management is broken: why savvy professionals move beyond ERM
Category: RAW
Articles and posts related to annual risk awareness week events, speakers, topics or webcasts
Why I don’t trust ChatGPT with risk management
Two years ago, I realized something that made me uncomfortable: every time I tested a public AI tool on risk management questions, it gave me terrible advice. Not just unhelpful. Actively bad. I’d ask ChatGPT about risk matrices, and it would enthusiastically explain their benefits. Claude would walk me through implementing enterprise risk management frameworks.… Continue reading Why I don’t trust ChatGPT with risk management
RISK AWARENESS WEEK 2025 – Largest virtual risk and insurance conference of the year
For years, I sat through risk management conferences that made me want to leave the profession. The pattern was always the same. Sponsors paid for booths. Sponsors got speaking slots. And suddenly the agenda was full of presentations about software features or broker nonsense that had nothing to do with making better decisions or risk management.… Continue reading RISK AWARENESS WEEK 2025 – Largest virtual risk and insurance conference of the year
The guy who created risk management says we screwed up
Grant Purdy helped write the book on risk management – literally. He co-authored ISO 31000, the global standard everyone follows. After 50 years in the field, he’s saying something uncomfortable: we got it wrong. Here’s what he means. Walk into most companies and you’ll find risk registers nobody reads, heat maps that annoy everyone, and… Continue reading The guy who created risk management says we screwed up
Are you happy risk management in your company creates value?
Most risk management destroys value. Risk matrices lie to you. ERM frameworks waste time and annoy management. Quarterly risk reports accomplish nothing except satisfying auditors. Your risk register sits in a drawer while critical decisions get made without considering uncertainty. Your insurance department is relying on broker recommendations instead of your risk analysis. Meanwhile, you’re… Continue reading Are you happy risk management in your company creates value?
Which LLM is Better for Risk Management? ChatGPT, Claude, Gemini or Copilot?
None of them. And here’s why that should terrify every risk professional. When you ask ChatGPT about risk matrices, it enthusiastically explains their “benefits.” Claude confidently describes how to implement enterprise risk management frameworks. Gemini cheerfully walks you through creating risk appetite statements. Copilot helpfully suggests using heat maps for risk visualization. They’re all spectacularly… Continue reading Which LLM is Better for Risk Management? ChatGPT, Claude, Gemini or Copilot?
3 Risk Management Ideas from the Future
I believe there are 3 things risk managers of the future will be doing. Today, most of you are doing number 1, some, very few, are doing number 2 and almost no one is doing number 3. Risk managers of the future will be spending 50% of their time on number 3, 49% of their… Continue reading 3 Risk Management Ideas from the Future
10 lessons risk managers should learn from Annie Duke’s Thinking in Bets
Every year I update my must read list for risk and insurance managers. Annie Duke’s Thinking in Bets is a new addition to my list. A risk manager on my team just finished reading it and he used RAW@AI to summarise they key points for risk professionals. Enjoy! 1. Life is poker, not chess Our… Continue reading 10 lessons risk managers should learn from Annie Duke’s Thinking in Bets
7 reasons you haven’t implemented quantitative risk management yet
In the wake of so many meltdowns, such as the 2023 collapse of Silicon Valley Bank and the 2022 implosion of FTX cryptocurrency exchange, as well as events like the 2021 Archegos Capital Management collapse, the 2021 Suez Canal obstruction, and the far-reaching impacts of the 2020 COVID-19 pandemic, investigations have consistently revealed significant shortcomings… Continue reading 7 reasons you haven’t implemented quantitative risk management yet
Flexible distribution is better than Triangular or PERT, project managers and cyber risk beware
In my last post, I introduced you to the game-changing concept of flexible distributions. If you haven’t read it yet, do yourself a favour and check it out here: You don’t need to worry about which distribution to use any more. With flexible distributions, available on MakeDistribution, the distribution molds itself to fit your data… Continue reading Flexible distribution is better than Triangular or PERT, project managers and cyber risk beware
