Ecclesiastical Insurance has introduced a new risk maturity assessment tool designed to aid organisations in navigating the complex and evolving risk environment.
The specialist insurer’s new initiative aims to bolster risk management frameworks and enhance organisational resilience against a spectrum of challenges.
Developed by experienced strategic risk professionals, the Ecclesiastical Risk Maturity Assessment tool is available at no cost to all organisations seeking to fortify their risk management practices. The tool is a product of Ecclesiastical's enterprise risk management (ERM) team's efforts to support strategic risk management and business continuity planning among its clientele.
The self-assessment tool, accessible via the Ecclesiastical Insurance website, enables organisations to identify areas requiring enhancement in their risk management strategies. Through this process, Ecclesiastical says that entities can devise robust plans to achieve their strategic goals, efficiently navigate risks, seize new opportunities, and bolster their resilience.
An organisation’s risk maturity rating, as determined by the tool, serves as an indicator of its preparedness to confront both current and emerging risks.
Utilising the tool involves a straightforward registration on the Ecclesiastical Insurance website, followed by a guided completion of the assessment. Participants are asked a series of questions, culminating in a report that outlines the organisation's risk maturity score, spanning categories from developing and integrating to embedding and optimising.
Additionally, the report furnishes a tailored action plan aimed at advancing the organisation towards a higher level of risk maturity.
Sarah Pearson, head of enterprise risk management at Ecclesiastical Insurance, commented on the tool’s launch, highlighting the increased importance of robust risk management strategies amidst recent global upheavals such as pandemics, economic shifts, and geopolitical tensions.
“In such a volatile risk landscape, having effective risk management arrangements is vital to help organisations to respond, adapt and evolve to meet priorities and deliver on plans,” Pearson said. “I am really pleased to be launching this new Risk Maturity Assessment tool to support organisations in navigating this volatile new normal. We’ve developed it with risk management industry experts, and we believe it’s market leading, unique and will really help our customers.”
Elsewhere, Ecclesiastical’s parent firm Benefact Group has announced the addition of Access Insurance, another specialist broker catering to charities.
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