Be part of the most significant European risk management survey!

This is the question FERMA is asking European risk professionals ahead of the launch of the 2012 risk management benchmarking survey on 16 April.

This will be the sixth such FERMA benchmarking survey, and the partners, AXA Corporate Solutions and Ernst and Young, want to surpass the record number of 782 responses in 2010. “The value of the survey depends on the numbers who respond,” states Cristina Martinez, FERMA board member and a member of the survey team.

This year the survey has been redesigned to make it quicker to answer and even more effective to use with fewer, more concisely worded questions. The online questions will be available in five languages: English, French, Italian, Polish and Spanish. Toluna, an independent survey organization, will again conduct the survey and analyse the results.

FERMA have chosen as the title this year:
Spotlight on Risk Management in Your Company: Show the Value!

Cristina says, “We have put ourselves in the footsteps of the risk management professional, and asked ourselves how we can provide a practical tool which helps them to take decisions and gives true comparisons so risk managers can see how they differ or how they are similar to others in their country or sector of activity.”


The survey has three principal objectives, she explains. First, to find out the status and level of influence of risk management in businesses today, and second, to get a better understanding of what stakeholders expect of risk management in the current financial and economic environment. The third aim is to assess the added value of ERM and new regulations on risk and corporate governance, especially the 8th European Company Law Directive.

Paul Lowen, Regional Commercial Manager UK and Ireland, of AXA Corporate Solutions says, “We find it a very useful source of knowledge. It gives us a view not just on insurance but on the role of the risk manager and how it is developing. We see expectations of risk management rising in the current financial and economic climate, but with more and more pressure on resources. It is affecting how risk managers do their jobs and how they place insurance.” Paul does not complain that answers to insurance questions do not always flatter the industry. “Such constructive criticism is the best criticism. It shows us the direction we need to go in and where we can improve.”

To increase the responses to an ever more representative level, the partners are encouraging all professionals with an interest in the management of risk within their organization to reply. This means not just FERMA members but their bosses and colleagues in functions like internal audit and treasury. Says Cristina, “We ask FERMA members to ask their colleagues, too.

For instance, if the risk management function has been decentralized, we want them to involve the other people who are now participating in the management of risk.” She concludes with this encouragement: “The FERMA benchmarking survey is the most significant study of risk management in Europe today, it is the only one launched by risk managers and focuses on risk management day to day. All FERMA members and their colleagues should be part of this exciting work.”

Benchmarking survey in a nutshell

• Launch date: 16 April
• Available in five languages: English, French, Italian, Polish and Spanish
• Results announced: 22 and 23 October at the FERMA Seminar in Versailles, France.

Sources : FERMA Newsletter # 46