Risks have been completely redefined by the pandemic–Risk Managers have been working overtime to create dynamic strategies and insulate organisations from unsettling scenarios. Flexibility and agility have become obligatory norms in order to seamlessly operate in the COVID-19 struck world order.
To gauge the risks that assailed the service sector and re-evaluation of enterprise risk management (ERM), ICICI Lombard & CNBC-TV18 organised a specially curated “Risk Masterclass 2021”. It is a special initiative under the aegis of India Risk Management Awards that recognises India’s leading organisations that have taken the lead in managing business risks.
The session commenced with an address by Sahil Kangotra, Vice-President, Corporate Solutions Group, ICICI Lombard. Sahil delved into the disruptive risks which were prominently exposed in the service sector, ranging from cyber risks, global regulations, artificial intelligence, blockchain to exchange rate risks. He said, “COVID-19 will represent a shift from frequent risk identification to great risk management.” He added that risk ownership needs to be across the board, adoption of a 360-degree view is imperative to…
