Page 19 - Insurance Times September 2019

in particular retirement and long-term care and it is
suggested that insurers might assume longevity risks of
certain groups of people-for example, insuring a pension
fund against the risk that its members, on average, exceed
the typical life expectancy.

As social support systems strain under the weight of
increasing obligations, it is candid what lies ahead if action
is not taken to address the increasing human cost of global
risks.

Social security systems in most parts of the world will
become ineffective if they are not modernized to become
assessment that takes into account not just economic future-proof. There are major impacts arising from
uncertainty, but also significant demographic shifts, like demographic change as well as the new world of working.
increased population life spans. The question to answer is who-employer, employee,
government, society as a whole or the private insurance
"While this is a positive development for mankind, it and reinsurance sector-is bearing which risks, and to what
challenges the sustainability of social protection systems, extent. R
PRESS RELEASE

RIMS and Tata AIG team up to deliver Global Risk Management
Education Opportunity

Development of RIMS-crmp certification prep course underway at Tata AIG Academy in Mumbai, India
RIMS, the Risk Management Society®, and Tata AlG Tata AIG will work very closely with RIMS to deliver the
General Insurance Company Limited (‘Tata AlG’) have RIMS-CRMP program which includes:
agreed to jointly develop a RIMS-CRMP Certification prep Y Analyzing the Business Model
course to be administered by the Tata AIG Academy, Y Designing Organizational Risk Strategies
learning wing of Tata AIG in Mumbai, India. Y Implementing the Risk Process
The RIMS-CRMP Certification is the only risk management Y Developing Organizational Risk Competency
certification in the world to hold an accredited status. It Y Supporting Decision Making The course is scheduled
received official accreditation by the American National to be available in 2019
Standards Institute (ANSI) under ISO/IEC 17024:2012 in “Organizations around the world are realizing the
2017. The ANSI Accreditation of RIMS-CRMP signifies that
importance of strong risk management capabilities and
the Institute recognizes the competence of RIMS to carry are investing in their people to drive this critical business
out certification activities in accordance with
area,” said RIMS President Gloria Brosius,
requirements defined in the International Standards and
confirms approval by government and peer review RIMS-CRMP. “We are proud to gain the support of such
an important leader in India’s risk management
assessments.
community and, with Tata AIG, deliver this exceptional
Through their learning wing Tata AIG Academy, Tata AIG educational opportunity.”
facilitates insurance learning for employees, insurance
Commenting on the occasion, Sushant Sarin, Executive
intermediaries, risk and insurance managers, in line with Vice President & Head, Commercial Lines &
Tata AIG’s firm belief in the holistic development of a risk Reinsurance, Tata AlG General Insurance Company Ltd.
management culture in the Indian insurance market said, “We are extremely happy and excited of our
through imparting risk and insurance expertise that association with RIMS as it reinforces the importance of
strengthens technical and functional capability and builds risk management which has become a cardinal
a talent pool of exceptional risk and insurance leaders. requirement of the corporate world”.

The Insurance Times, September 2019 19