2021 predictions: Quantifying and prioritizing cyber and business risk
Posted January 25, 2021
- Risk management involves assessing potential threats to your business and implementing measures to block them in advance and remediate them if they cause impact.
- 5 Risk Management Trends & Priorities for 2021, which he listed in order:
- Mitigating the long-term effects of COVID-19 on the supply chain
- Build protection and resilience
- Innovate to reduce insurance costs
- Use good data to manage risk appetite
- Use data science to reduce claim costs
- What technology is developing (or will be developed) to assist with risk quantification and prioritization?
- Robotic process automation (RPA) is a key technology for helping organizations quantity and prioritize risk. RPA frees companies up from repetitive, manual tasks and allows them to focus on more strategic work. Essentially, it helps companies make smarter decisions more quickly, which is what risk quantification and prioritization is all about. Again, this technology is only as good as the processes already in place. – Matt Kunkel
– Scott Matteson | January 25, 2021