CRO of the year: Frieder Knuepling
Today's insurance industry is blessed with richly talented CROs. Not only do they need strong technical skills to oversee complex modelling, but they must show leadership, be able to communicate with all levels of the business and persuade others of the value and usefulness of risk management.
A CRO's remit now involves being a strategic partner to the board and executive – as well as being involved with growing every aspect of an insurer's business.
Scor's group chief risk officer Frieder Knuepling is recognised for embodying these qualities, and he is the stand-out winner.
Since taking charge of Scor's risk function, Knuepling has positioned Scors's risk teams as independent business partners with a focus on risk and return optimisation, expertise and advice.
In parallel to a successful transition to Solvency II, and the approval of Scor's internal model, Knuepling has linked Scor's risk, solvency and capital management through the introduction of an innovative solvency scale.
This tool forms the basis for one of Scor's two strategic objectives and has become a benchmark for the entire industry.
It was also instrumental in achieving upgrades from each of Scor's rating agencies, and helped the French re/insurer earn one of the few "very strong" enterprise risk management ratings by S&P.
InsuranceERM's judging panel said Knuepling deserved recognition because he has enhanced understanding and awareness of risk management both within his organisation and the industry as a whole.
The judges particularly praised Knuepling's calm and authoritative leadership of the CRO Forum's emerging risks initiative, which has made it more accessible, as well as his personal commitment to helping others.
Knuepling has become a risk management champion, raising its visibility and effectiveness via frequent internal events, seminars, publications, and an interactive enterprise risk management e-learning module for Scor staff worldwide.