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Predictive risk intelligence
A risk monitoring strategy
Predictive risk intelligence (PRi) provides you with advance notice of the threats to your company or industry that could affect the decisions you make for your organization.
- Future risk and predictive intelligence
- PRi technology’s role in managing risk
- Getting started with PRi
- Get in touch
- Join the conversation
Managing future risk with predictive intelligence & risk monitoring strategies
Boards, shareholders, regulators, customers, and business partners alike not only request
This paper introduces the concept of
By understanding how risk occurs, organizations can become better equipped in not only preventing it but handling it if it does occur. This can be divided into three categories:
- Reactive risk monitoring—This is the initial monitoring mechanism where the organization tracks and reports loss events after they happen. Process plan and the ability to prevent recurrence of similar events in the future.
- Integrated risk monitoring—The next stage of monitoring that utilizes passive and active risk, performance, compliance, and control indicators to objectively report on risk performance thresholds periodically, or in near real-time. Its primary emphasis is the timely report-out on risks given identified assessment criteria, the status of established benchmarks, and interpretation of risks deviating from performance standards such as organizational risk appetites.
- Predictive risk monitoring—A technique that helps organizations discover potential risks and threats, including types of risk not covered by existing risk indicators.
PRi technology’s role in managing risk
Applying technology across the
Getting started with PRi
- Start smart: Initiate a predictive risk program by identifying risks that have high impact, available performance data, low forecasting complexity, and insufficient current capability.
- Scale fast: As the proof of concept matures, expand PRi use cases to other areas supporting the firm's maximum value proposition.
- Execute effectively: Establish performance measures and review
PRimonitoring outcomes to determine how to integrate PRimore fully into the current portfolio of risk management activities.