RIMS RiskWorld 2023 – What You Need To Know

Are you a risk manager looking to stay ahead of the curve? RiskWorld 2023 is an invaluable event for risk professionals that offers three days of education, networking, and more. 

With keynotes from international thought leaders and sessions that explore challenging issues concerning risk management in today’s landscape, this conference provided a forum for learning, growth, insight, and a little fun (see below).

Read on for the top takeaways from the event.

How the Power of Women in Insurance Leadership Is Evolving

• The insurance industry is changing due to technology, global startups, and macroeconomic factors which have forced the world to adapt.
• In a traditionally male-dominated field, women in leadership struggle to find roles and opportunities for advancement usually due to a lack of mentors and role models.
• At RISKWORLD 2023’s DEI track, the “Power of Women in Leadership” panel discussed how leaders inspire others and find their own inspiration. Carla Ramos, Amber Banister, and Aneisha Goldsmith shared their perspectives on leading in the modern era and recognizing talents versus skills.
• They focused on finding roles that fit best, creating safe spaces for team members, accepting change as part of being a leader, setting boundaries for one’s career development, amplifying accomplishments of team members in order to be seen by those not present in meetings, finding mentors and sponsors for recognition within the industry.
• Ultimately, the advice was to start somewhere and go full force with it; networking was also suggested as essential for building one’s brand.

Is Diversity, Equity, Inclusion, and Belonging a Bottom-Line Issue for Workers’ Comp?

• Good health and recovery from injury involve many aspects, including social support like family and friends.
• Workers who remain socially connected to their employers recover and return to work more quickly than those who do not have these social connections.
• At RISKWORLD 2023, one session addressed the impact of diversity, equity, inclusion, and belonging (DEI&B) on an injured worker’s recovery.
• The mental aspect of the claim is as important as the physical aspect; employers should create a culture of trust where employees feel safe to raise safety issues or concerns without fear of punishment.
• Employers must invest in DEI&B initiatives to promote worker wellbeing, which includes communicating effectively with workers before an accident happens, addressing near-misses, fact-finding instead of fault-finding when investigating incidents, celebrating when a safety concern is raised, involving workers in the safety process end-to-end, creating recognition programs for workers and investing in external community involvement opportunities for workers.

More Than Just a Black Hoodie — What Organizations Are Up Against When It Comes to Hackers

• Hackers are organized and operate just like any other business, setting goals and quotas and working during normal business hours.
• Companies must step into the mind of a hacker to understand how to defend against cyber threats.
• The attack life cycle consists of hackers targeting organizations for financial gain or strategic reasons, scouting for opportunities, installing malware, expanding access until their goal is reached, and extorting a company’s information for ransom.
• Companies can prevent a breach by investing in controls that will disrupt hackers’ progress and educating team members on security protocols to follow. In the event of a breach, it’s recommended to alert authorities such as the FBI or CISA.

RiskWorld 2023 was an invaluable event for risk managers looking to stay ahead of the curve. By attending the keynotes and different sessions, participants were exposed first-hand to new trends in risk management and the challenges organizations face today when it comes to DEI, data breaches, and more. 

The incredible insights that were shared throughout the three days, provided attendees with a greater context for evaluating risks as well as upskilling their strategies.  It’s no wonder it has been dubbed one of the must-attend events on the annual risk manager’s calendar. 

Moreover, it is essential to recognize that the success of an organization depends on its ability to remain up-to-date with current trends, and regulations and adjust conversations accordingly. RiskWorld 2023 made sure that all those in attendance left feeling equipped and ready to take on these issues head-on – paving the path towards a more secure future!