The financial well-being and longevity of an organisation has been traditionally assessed through accounting and actuarial methodologies; however, this 20th century 2D approach has been proven to be ineffective and has often fallen short of expectations. While the non-financial elements of the reporting have been gradually introduced over time, many of these measures were hard to quantify and are of arbitrary nature.
ESG and CSR reporting is still not mandatory in many jurisdictions; however, the financial impact caused by Operational Risk hazards often have a devastating effect on organisations and geographies around the world.
Audeamus Risk offers Organisations, Market Regulators, Rating Agencies and Government Institutions an efficient tool to obtain a vital intelligence concerning growing operational risk exposures, protracted business interruption and the systemic problems caused not only by natural hazards, but also emerging risks, such as; cyber-security compromises, supply-chain exposures (instigated by co-dependent technology risk), pandemic, non-compliance and certain behavioural anomalies.
Our approach provides a more holistic assessment, given that an impact is sometimes triggered by an uncorrelated event. For instance, significant data loss may be caused by natural hazards or sophisticated fraud. Conversely, natural hazard losses may be triggered by a cyber or another unrelated incident.
Combination of threat vectors is almost infinite and therefore any calculation of the incident probability or estimation of its magnitude can be very difficult or almost impossible to assess. This is exactly the reason why Audeamus Risk has focused on resilience intelligence and not on stochastic based risk-modelling.
While these in-depth insights were unavailable in the past, new standards and technologies have been developed in the GRC, Business Continuity Management and broader Resilience domain to capture these subtleties in real-time. Smart analytics using advanced AI is poised to become a prevailing assessment of operational resilience – providing a pre-emptive action by the incumbents and regulators alike.
The Audeamus Risk platform brings an entirely new quality and balance in today’s risk assessments that are influenced by subjective opinions or models that use simulated data whilst ignoring available and actual data. Reducing these misalignments and bringing uninsured risk in line with policies will produce substantial savings to all parties involved in the insurance cycle and capital management domain.