LogicManager Case Studies Chesapeake Employers Insurance Company

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	Chesapeake Employers Insurance Company LogicManager

Chesapeake Employers Insurance Company

LogicManager

Technology Category	Application Infrastructure & Middleware - Data Exchange & Integration
Challenge	Chesapeake Employers’ Insurance Company, a non-profit, non-stock corporation providing workers’ compensation insurance to Maryland businesses since 1914, has been implementing new Enterprise Risk Management (ERM) initiatives to ensure the proactiveness of their program. The company has introduced a monthly risk dashboard and a Top 10 Risk Response Plan. These initiatives leverage existing aspects of their ERM program including risk appetite, tolerance levels, and Top 10 identified risks to reveal possible areas of improvement and an action plan for the risk team. The challenge was to ensure that the risk program was successful and that there was increased engagement from the ERM team. Read More
About Customer	Chesapeake Employers’ Insurance Company (Chesapeake Employers) is a non-profit, non-stock corporation that has been providing workers’ compensation insurance to Maryland businesses since 1914. The company operates solely from premiums and investment income. Over the past few years, Chesapeake Employers has been implementing new Enterprise Risk Management (ERM) initiatives to ensure the proactiveness of their program. The company has introduced a monthly risk dashboard and a Top 10 Risk Response Plan, leveraging existing aspects of their ERM program including risk appetite, tolerance levels, and Top 10 identified risks. Read More
Solution	Chesapeake Employers’ Insurance Company implemented two new ERM initiatives to ensure the proactiveness of their program: a monthly risk dashboard and a Top 10 Risk Response Plan. These initiatives leverage existing aspects of their ERM program including risk appetite, tolerance levels, and Top 10 identified risks to reveal possible areas of improvement and an action plan for the risk team. The company also used the RIMS RMM model to benchmark their program and identify areas for improvement. To supplement this increased focus on enterprise engagement, Chesapeake Employers is also creating an online resource library comprised of various insurance articles structured around their risk taxonomy and identified risks. Read More Log in to view content
Contents

Technology Category

Application Infrastructure & Middleware - Data Exchange & Integration

Challenge

Chesapeake Employers’ Insurance Company, a non-profit, non-stock corporation providing workers’ compensation insurance to Maryland businesses since 1914, has been implementing new Enterprise Risk Management (ERM) initiatives to ensure the proactiveness of their program. The company has introduced a monthly risk dashboard and a Top 10 Risk Response Plan. These initiatives leverage existing aspects of their ERM program including risk appetite, tolerance levels, and Top 10 identified risks to reveal possible areas of improvement and an action plan for the risk team. The challenge was to ensure that the risk program was successful and that there was increased engagement from the ERM team.

About Customer

Chesapeake Employers’ Insurance Company (Chesapeake Employers) is a non-profit, non-stock corporation that has been providing workers’ compensation insurance to Maryland businesses since 1914. The company operates solely from premiums and investment income. Over the past few years, Chesapeake Employers has been implementing new Enterprise Risk Management (ERM) initiatives to ensure the proactiveness of their program. The company has introduced a monthly risk dashboard and a Top 10 Risk Response Plan, leveraging existing aspects of their ERM program including risk appetite, tolerance levels, and Top 10 identified risks.

Solution

Chesapeake Employers’ Insurance Company implemented two new ERM initiatives to ensure the proactiveness of their program: a monthly risk dashboard and a Top 10 Risk Response Plan. These initiatives leverage existing aspects of their ERM program including risk appetite, tolerance levels, and Top 10 identified risks to reveal possible areas of improvement and an action plan for the risk team. The company also used the RIMS RMM model to benchmark their program and identify areas for improvement. To supplement this increased focus on enterprise engagement, Chesapeake Employers is also creating an online resource library comprised of various insurance articles structured around their risk taxonomy and identified risks.

Impact #1	Increased engagement from the ERM team
Impact #2	Improved communication about enterprise risks throughout the entire organization
Impact #3	Creation of an online resource library comprised of various insurance articles structured around their risk taxonomy and identified risks

Impact #1

Increased engagement from the ERM team

Impact #2

Improved communication about enterprise risks throughout the entire organization

Impact #3

Creation of an online resource library comprised of various insurance articles structured around their risk taxonomy and identified risks

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Overview

Chesapeake Employers Insurance Company

Operational Impact