SOURCE: Actuarial Risk Management

Actuarial Risk Management

September 10, 2015 13:00 ET

Austin-Based Actuarial Risk Management Opens New Risk Solutions Division

Demand for Unbiased View of an Enterprise's Cost of Risk Drives Expansion

AUSTIN, TX--(Marketwired - September 10, 2015) - Actuarial Risk Management ("ARM"), an Austin-based actuarial firm, today announced the opening of ARM Risk Solutions ("ARMRS"), a new division focused on providing independent holistic risk assessments and advisory solutions to corporations with a primary focus on middle market businesses. David Teed will join the firm as Managing Director of ARM Risk Solutions, which will be based in central Manhattan at 100 Park Avenue, New York City. The new division, like ARM, will directly serve companies across a broad range of industries and indirectly via strategic alliances that ARM formed with a number of established law firms and Top 30 accounting firms.

The ARM Risk Solutions division is a natural extension of ARM's work, delivering an impartial view on how to economically optimize methods for preventing and financing loss across company-wide risk exposures. The market need has never been greater, with only one-third of organizations maintaining enterprise-level risk inventories -- leaving two out of three organizations exposed to risks of which they are unaware, according to the American Institute of CPAs' latest study on enterprise risk oversight. The study also found that risk issues are being elevated, with 68 percent saying that boards want more senior executive involvement in risk oversight.

"Companies need a more proactive approach to identifying and mitigating their risk exposures across the entire organization," said Managing Director David Teed, CIC. "As the complexity and volume of risks grow, the C-suite is recognizing the impact that a more comprehensive risk review can have on the financial health of their organizations."

A 30-year veteran of the insurance and risk management industry, Teed is experienced in working on all sides of the risk management paradigm. In his new role, he will be responsible for developing business for ARM Risk Solutions and overseeing the growing ARMRS network of independent risk consultants. Consultants in the network have specialized knowledge in managing the risks of their respective industry sectors, each averaging more than 25 years of practical experience. Initially, ARM Risk Solutions will focus on serving clients in New York and Texas, eventually expanding nationwide.

"Our goal is to take all financial influences out of the risk solutions equation, so that boards and executive management gain a very transparent view of how they can better manage all of the organization's risks more cohesively and economically," said Corwin Zass, founder and principal of Actuarial Risk Management. "Our unbiased risk evaluation process aims to deliver to a company a new bespoke view of their broader risk exposures, with a set of practical mitigation approaches that produce higher levels of risk security and lower costs for those risks."

For more information about ARM Risk Solutions, or to discuss questions about your organization's risks and your current management approach, please contact David Teed at ARMRS@actrisk.com.

About Actuarial Risk Management
Actuarial Risk Management (www.actrisk.com) delivers independent actuarial services, practical advice and creative risk management solutions tailored to each client's needs. The firm's successful boutique collaboration framework enables a deep roster of experienced, specialized consultants to be highly responsive to client needs at a fraction of the cost of national actuarial and risk management firms.

Contact Information

  • Actuarial Risk Management
    6500 River Place Boulevard
    Building 1, Suite 204
    Austin, TX 78730

    Kellie Sheehan
    PR contact
    Actuarial Risk Management
    512-345-5200
    pr@actrisk.com