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Taken all together, a full risk assessment paints a powerful picture of what risks the company faces. There are six main benefits to properly approaching risk assessments. They include:

  1. Highlights significant or material risks using a structured and audible process.
  2. Identifies risk interdependencies and clusters.
  3. Establishes baseline financial estimates of probable loss utilizing a variety of actuarial and financial modeling methods.
  4. Assists in setting operational contingency plans to reduce the impact of catastrophic loss.
  5. Establishes a new and more comprehensive risk management discipline within the firm.
  6. Identifies possible strategic competitive advantages.

Contacting a TechAssure member can help you with a comprehensive risk assessment process. To learn more about the benefits of work with a TechAssure member, please give us a call at 512-377-9594, xt 700

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