Artificial Intelligence and Business Productivity

Top 10 Risk Management Service Companies - 2021

From the Australian forest fires to the Taal volcano eruption in the Philippines to the COVID-19 pandemic that engulfed the world, 2020 has been a year filled with unprecedented challenges for businesses across all sectors. Without a doubt, last year has emphasized the need for efficient risk management strategies and significantly increased the demand for innovative risk management solutions and services that cater to the changing needs of businesses in a post-pandemic world.

While insurance and risk management do not guarantee a safe future, organizations can prepare for volatilities in the future, including climate change, technological disruption, geopolitical risk, threats to the global supply chain, and issues related to cyber-crime, data protection, and privacy. In addition, regulatory authorities around the globe are developing and expanding their scope, addressing matters such as data protection and privacy along with money laundering, financial crime, violations of sanctions, bribery, and corruption. This has forced most companies to connect risk management more closely to the business and front office management.

Emerging technologies such as machine learning and artificial intelligence have shown great promise in helping risk managers pinpoint specific risks and develop faster responses. While the adoption rates for technologies in risk management have increased in recent years, several companies fail to leverage the true potential of mature technologies like data analytics and modeling. These technologies can reduce the efforts in lower-risk areas and help managers focus their energies on actual threats to critical parts of the organization. The rising demand for risk management solutions and services has led to a significant rise in risk management services and solution providers. However, business leaders need to carefully weigh their options before identifying the right risk management partner.

In order to help CIOs steer through the ever-evolving legal regulations space and find the solution that best suits their needs, Insurance CIO Outlook has examined and selected the leading-edge risk management solution and services providers and shortlisted the organizations that are leading the charge in resolving the prime challenges in the risk management arena.

We present to you Insurance CIO Outlook’s “Top 10 Risk Management Service Companies - 2021.”

    Top Risk Management Service Companies

  • Builders Protection Group, LLC (BPG) is a Small Business Enterprise (SBE), strategic risk management and construction services firm providing risk mitigation and construction consultation

  • Procor offers creative and unique risk management solutions to help its clients identify and recover from potential risks and mitigate the impact of the same. Founded in 2013, Procor is a wholly-owned subsidiary of Brown & Brown Insurance, one of the largest publicly traded insurance brokers in the world. The company primarily assisted policyholders with forensic accounting, business interruption, and property claims in its early days. Today, the company is a full-service risk management firm that provides guidance in disaster planning and response, risk assessment, property/business interruption claims, loss mitigation, and claim analytics and technology.

  • Alvarez & Marsal

    Alvarez & Marsal

    Pragmatic business-focused advice and solutions by Alvarez & Marsal help clients identify, quantify, and balance risk and opportunities to maximize growth

  • BearingPoint


    With in-depth experience of key finance and risk-related processes, BearingPoint's finance and risk consultants enable customers to re-engineer their roadmap, operating model, and ways of working and invest wisely in people and technology to be part of the solution not part of the problem

  • Boston Consulting Group

    Boston Consulting Group

    BCG's risk management teams help companies confront uncertainty, increase transparency, and embed adaptability and resilience in their teams, processes, and systems

  • Deloitte


    Deloitte's enterprise risk management specialists provide consultative and managed services, as well as interactive labs, to help C-suite executives, boards, and decision-makers identify, interpret, and prepare for risks that can impact business

  • Delta Capita

    Delta Capita

    Delta Capita’s specially-developed technological model risk management solution continuously monitors derivatives, pricing model performance, and model validation through an emulation engine

  • EY


    EY is a global leader in assurance, consulting, strategy and transactions, and tax services. The insights and quality services they deliver help build trust and confidence in the capital markets

  • KPMG International

    KPMG International

    KPMG firms’ professionals provide the experience to help companies stay on track and deal with risks that could unhinge their business survival

  • McKinsey & Company

    McKinsey & Company combines advanced tools and techniques with expertise in strategy formulation and organizational transformation to help clients optimize their risk exposures, improve performance, increase profits, and accelerate growth