CEOs from major conglomerates discuss the value of risk management at Parima event in the Philippines
Almost 300 delegates gathered in Manila last week for the first Pan-Asia Risk and Insurance Management Association (Parima) conference in the Philippines.
Held at the Shangri La at the Fort, Taguig, on 28 March, the conference included presentations on risk management from the chief executives of two of the largest Philippine conglomerates: Erramon Aboitiz of Aboitiz Equity Ventures and Jaime Augusto Zobel de Ayala of Ayala Group of Companies.
Both industry leaders highlighted the importance of risk management, outlined their enterprise risk management plans, and shared several initiatives they have introduced to help build resilience to natural catastrophes.
The chief executives also participated in a panel discussion with Swiss Re head of South East Asia Jonathan Rake and Aon Asia chief operating officer Michael Gallagher (pictured above).
Panel moderator, Parima general secretary Steve Tunstall, said the session was a “stunning masterclass” in risk management.
“The CEOs of many other cities in the region could do far worse than follow the exemplary integration of risk into strategy and governance demonstrated in Manila,” he said.
As part of the educational agenda, Parima also worked with Allianz, Aon, International SOS and Swiss Re Corporate Solutions to conduct masterclasses on 27 March where more than 100 risk managers learned about directors and officers’ claims, crisis preparedness, cyber security and business interruption.
The conference also featured the ‘Truth About Youth’, a worldwide study conducted by McCann Truth Central aiming to understand the millennials. The study was presented by Gino Borromeo of McCann Worldgroup Philippines, helping risk managers gain a perspective and set expectations on how to deal with the generation on the rise in the workforce.
Parima also announced its collaboration with Willis Towers Watson on the launch of the Risk Lab, with its first session scheduled to be held in Manila on 28 April 2017. The Risk Lab is an interactive one-day workshop for the risk management community delving on topics relating to strategic, operational and human capital risks.
The next Parima regional conference will be held in Shanghai on 21 June.