Milliman launches risk institute for science-based ERM solutions

SEATTLE—Milliman Inc. has formed a risk institute to provide scientific-based thought leadership on enterprise risk management for senior-level executives to help them better manage their risks.

The Milliman Risk Institute consists of an advisory board of eight risk management professionals to provide experience- and data-driven expertise, the Seattle-based insurance and risk management consulting firm said in a Wednesday statement.

“(ERM) means different things to different people and organizations,” said Mark Stephens, director of risk advisory services at Milliman and executive director of the risk institute, in the statement. “Every ERM strategy has a different level of maturity and is influenced by regulation, industry, company size and countless unique business characteristics.”

The advisory board, which includes four Milliman executives, aims to publish market research, case studies, best practices and perspectives from other chief risk officers on a regular basis, according to the statement.

The board convened its first meeting in November and will provide results to interested parties.

To subscribe to the Milliman Risk Institute, or for more information, contact riskinstitute@milliman.com.