InsuranceERM Annual Awards 2022 - Americas

Operational risk solution of the year: Incisive Software

Diane RobinnetteIncisive Software clinched the operational risk solution of the year award with its spreadsheet management offering providing what it calls "true knowledge" of spreadsheet use. This issue particularly arises if an employee with specialist knowledge leaves an organisation.

"Our technology features change management capabilities that ensure there is always a record of what changed in a spreadsheet, who made the changes and when the changes were made," says Diane Robinette, president and CEO at Incisive Software.

"This technology also helps "the new person" understand the spreadsheet so they can quickly and confidently utilise the spreadsheet."

Clients have seen tangible benefits from the solution, such as US re/insurer Safety National. Leslie Martin, Safety National's senior pricing actuary, says the visual display of Incisive Software's offering highlights areas of difference that "saves the actuarial team significant time".

Incisive Software's Robinette adds that companies will look to prioritise technology and automation as they adapt to either a hybrid or remote way of working.

"Therefore, how conduct risk intersects with operational risk will also need to be top of mind," said Robinette.

"We see companies needing better visibility beyond the "check boxes" and into the work itself, employee behaviours, as well as other aspects of managing a distributed environment."