Anyone working in risk management and insurance absolutely must watch these 2 workshops:
1. Why risk management is broken?
Despite ‘risk management’ being a much-heard expression these days:
- There is no agreement to the problem it is (ostensibly} solving
- Even among those who advocate its adoption and practice (often to earn their living} it has no settled meaning, nor even clarity of purpose.
- Its clumsy and ever-changing constructs and confected jargon complicates rather than improves decision making and, therefore, organisational performance
Just ask yourself: If risk management is the answer, what was the question? This is a must watch session for anyone working in risk management and a great foundation for the whole week. Make sure you sign up!
2. How to fix it?
Sam Savage, Executive Director of ProbabilityManagement.org, author of the Flaw of Averages – Why we Underestimate Risk in the Face of Uncertainty, Adjunct Professor in Stanford University’s School of Engineering and a Fellow of the Judge Business School at Cambridge University, will demonstrate how ignoring uncertainty in business plans and investment proposals leads to bad decision making. This powerful workshop will explain how businesses all over the world can improve performance by moving from averages to an unambiguous expression of uncertainty called a SIP.
Check out other risk management books
The Flaw of Averages is a set of systematic errors that occur when uncertainties are represented by single average numbers. Sam will show how free SIPmath cures the Flaw of Averages by replacing single numbers in calculations with arrays of thousands of numbers. This lets you calculate the chances of achieving your goals in native Excel, R, Python or you favourite analytical platform.
Enjoy and please share with your risk and insurance friends! It could change their whole career for the better.