With the uncertainty of a global pandemic, hurricane season, and more, CEO Jim Wetekamp shares his thoughts on how organizations are handling multiple crises, and what we can expect for the future in this article on InsuranceJournal.com.
While few, if any, organizations saw the coronavirus pandemic and all of its death and disruption coming, some were better positioned to deal with it than others.
According to risk expert Jim Wetekamp, some organizations were better prepared to respond by virtue of the way they think about resilience and risk, their familiarity with planning for a progression of activities during the course of a year, and their risk tolerance. They also were organizations that had sufficient resources and decision making skills.
“So even if it was a uniform surprise to all of us, different folks had their data, their knowledge, and some of their decisions still in their hand to be played where they could respond in a different way,” Wetekamp said.
Wetekamp is chief executive officer of Riskonnect, an integrated risk management technology and information company that helps organizations facilitate the managing of risks. Riskonnect works with the insurance industry and with complex organizations — ones that have multiple locations, customers, third parties and assets— that are looking to put in place enterprise risk strategies, compliance and controls.