Run Time: 29:11
August 21, 2020 in Editors' Featured
When Crises Collide, Risk Management Requires Smashing Silos
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The world is in the midst of a record pandemic. The U.S. is facing an economic downturn and a hurricane season, both of which could set records as well. And there is civil unrest across the country. Jim Wetekamp, CEO of integrated risk management technology firm Riskonnect, and Wells Media's Andy Simpson, discuss how organizations are managing through today's multiple crises. According to Wetekamp, many organizations have gone from triaging in order to keep people healthy and stay in business to building for the recovery phase. Those managing the best have broken down silos, centralized information from across their organizations and partners, and pivoted to make risk the focus of strategy and action. They are uncovering blind spots in their protections and business lines and are implementing changes to compete in the new normal. Meanwhile, with all that's going on, Simpson asks, what's happening to efforts to address climate change?
