Live From RISKWORLD 2024! - RIMScast (2024)

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

Justin Smulison interviews Oliver Wild, the President of AMRAE, Joan Woodward, Executive Vice President for Public Policy at Travelers, and Chuck Baxter, Executive VP at IPISC, all live at RISKWORLD 2024. First, Oliver discusses AMRAE’s 2024 RMIS Panorama. Next, Joan discusses Travelers’ 2024 CFO Study. To finish the episode, Chuck discusses World Intellectual Property Day and the importance of IP rights in your organization. There is much to learn from these RIMScast guests. Justin also reveals the location of RISKWORLD 2025.

Key Takeaways:

[:01] About RIMS and RIMScast.

[:15] These interviews were recorded live at RISKWORLD 2024 in San Diego, from May 5th through May 8th.

[:39] Before we get to the interviews, let’s talk about RIMS Virtual Workshops. The full calendar of virtual workshops is at On June 11th and 12th, we’ve got Applying and Integrating ERM. Also on June 11th and 12th, we have Fundamentals of Insurance. On June 18th and 19th, there is Fundamentals of Risk Management.

[1:05] On July 9th and 10th, we have Managing Workers’ Compensation. On July 23rd and 24th, we have Claims Management. Other dates for Fall and Winter are on the Virtual Workshops full calendar. A link is in this episode’s show notes. Listen for more about RIMS events later in the show.

[1:30] My first guest is the President of the Association for the Management of Risk and Insurance Enterprise or AMRAE. Their complimentary 2024 RMIS Panorama is now available for download. The last time we saw the folks from AMRAE on RIMScast was in 2019. François Beaume from AMRAE was in the RIMS office and we had a fun, impromptu interview.

[2:03] This year, I sat down with the AMRAE 2024 President, Oliver Wild. Oliver is the Chief Risk Officer for Veolia, a company providing water risk management, water reclamation, and water treatment. He was at RISKWORLD 2024, representing AMRAE. We talked about the Panorama, its improved functionality and accessibility, and the trends identified in the Panorama.

[2:46] Oliver Wild, welcome to RIMScast!

[3:05] Oliver is the President of AMRAE, the French equivalent of RIMS. They have over 1,600 risk manager members. They organized their conference in February 2024 in Deauville, France. There is a link to the event site in this episode’s show notes. The last time Justin spoke with someone from AMRAE was in 2019. Justin interviewed François Beaume in the RIMS office.

[3:59] The new Panorama is the 17th Edition. Oliver says AMRAE is reaching out to more risk managers with the help of IFRIMA, FERMA, and other risk associations. For this edition, AMRAE got responses from 250 risk managers in 36 countries. It gives an international view of the use of risk management information systems.

[4:30] The number of vendors has also increased. It’s a very dynamic market.

[4:49] AMRAE integrates risk managers’ views. There are risk manager testimonials and expert opinions on the market from insurers and brokers. It’s a neutral, objective study and very business-focused, reaching into different departments in the organizations.

[5:38] You can access the full report. It’s free. You can also get direct access to the data with a QR code that gives you dashboards so you can slice and dice the data and get the view you want to see, per country and vendor, and the risk managers’ responses.

[6:54] It’s a growing, dynamic market. More risk managers are implementing risk management information systems. The trend is a single risk management information tool to respond to the needs of many departments. On average in a company, 50 people use that tool to help them report to the board or their executives.

[7:47] A critical aspect and key benefit of these data-rich risk management information tools is information sharing, including real-time data. The number one reason risk managers implement this type of tool is for risk mapping. Other benefits are driving your action plans, following up on them, and sharing risk maps with your internal audit.

[8:43] A recent trend is to use these systems for risk management and prevention. To a lesser extent, Oliver sees internal control feeding into that.

[8:57] Oliver speaks of the popularity of SaaS. The quality of SaaS tools has improved, off the shelf. You can adapt and shape the tool to your needs. Risk managers are very happy with the tools that they have. They are easy to implement and it takes about four months. The average cost for these tools is €100K a year but differs by country. In the U.S., bigger systems cost more.

[10:53] The digitalization of the risk management function is critical and you’re seeing that in the insurance market as well leading to the big expansion of risk management information tools.

[11:10] Oliver shares his view on AI. The GenAI aspect is very new and is developing quickly. It’s already in current risk management tools. Oliver mentions “sanity checks” to improve data quality. Risk managers say AI helps them in fraud prevention by looking at financial patterns of fraud. In the insurance market, AI helps analyze policies and scan through prevention reports.

[12:11] AI can make the risk manager’s life easier and more efficient. You need human eyes to see the analysis and human ears to hear it, but AI gets you on your way. It’s a real-time analysis.

[12:52] AMRAE organizes an annual event in Normandy and Deauville. It gets about 4,000 people. It’s a great event with plenary sessions and around 30 workshops for risk managers. The Panorama is the 17th Edition, but AMRAE produces analysis of other topics year-round, based on the topics of the moment. AMRAE does prospective thinking on future risks.

[13:33] There’s also a training part with certified training and modules to help risk management face their challenges. Risk management is now at the board level and modules help risk managers get used to talking to C-suites and execs. There is training on the Corporate Sustainability Reporting Directive (CSRD), aimed at the environmental impact of the company.

[14:17] In the Risk Management System Panorama, people are using AMRAE training to do their reporting on CSRD. That’s one of the areas of focus of the report this year.

[14:28] AMRAE does a lot of smaller events in regions in France to reach out to a maximum of the risk management community. AMRAE has six centers across France, hosting events throughout the year. AMRAE is the association of reference for the risk management community in France. Their equivalent of RISKWORLD is called Les Rencontres (The Meetingplace).

[15:16] Les Rencontres covers the whole risk ecosystem for all stakeholders, with discussions, co*cktails, and dinners. It’s fun and a key source of information. It has a big student population. Last year over 300 students attended. The students bring their CVs and talk to the carriers about a job for when they graduate. Les Rencontres is always the first week of February.

[16:02] Oliver Wild is also the Chief Risk Officer for Veolia. There are 17 people at the head office and a network of offices around the globe in 58 countries. That’s about 90 people in risk and insurance combined. They deal with risk mapping, identification, and prevention. They run captives and insurance programs. The risk managers interact with all the other departments.

[16:49] Oliver, it has been such a pleasure to talk with you. You’ll come back for another episode, virtually, unless you want to ship me out to France?

[17:05] RIMS plug time! Webinars! Our friends from TÜV SÜD GRC will return on May 23rd with Respond to Emerging Risks with this Winning Property Loss Control Formula. On June 6th, Evident ID makes its RIMS Webinars debut with Uncovering Hidden Risks in Your Third-Party Risk Management Program. Some RIMS board members will be there to lend insight, as well.

[17:37] On June 13th, our friends at Riskonnect return to present Unlocking the Value of Business Continuity and Insurable Risk Management. All of these sponsors had a wonderful presence at RISKWORLD on the showroom floor and we sincerely appreciate our partnerships with them. Register at Webinars are complimentary for RIMS members!

[18:12] Our next guest is the President of Travelers Institute and Executive Vice President for Public Policy at Travelers, Joan Woodward. Joan led a session at RISKWORLD, From Forecast to Forefront: New Research on the CFO’s Strategic Mindset. At that same time, Travelers released its special report, 2024 CFO Study. A lot of the session info was based on this brand-new report.

[18:44] I caught up with Joan right afterward. We extended the dialog from her session and explored some of the details from the 2024 CFO Study. Joan Woodward, welcome to RIMScast!

[19:11] Travelers decided this year to survey over 600 CFOs and Heads of Finance at large companies with 500 or more employees across a mix of industries to get their views on topics from core responsibilities and corporate strategy to the macroeconomic concerns on the minds of CFOs. CFOs are key decision-makers in selecting the right solutions.

[20:10] CFOs rely on risk managers in the company. They wear multiple hats. Travelers wanted to know what keeps them up at night, how they deal with complex risks, and whom they turn to to help them manage that risk.

[20:40] A lot of major companies have their enterprise risk management teams report to the CFO. A lot of companies have a risk committee on their board of directors. Overseeing risk management is probably one of the most difficult things a CEO has to worry about. Risk management and the CFO go hand-in-hand to advise the board and their CEO.

[21:24] The Travelers study uncovered four key themes; one is the expanding role of CFOs with internal and external constituencies in risk management and overseeing that function to ensure the business is resilient against any type of risk.

[22:01] Risks change all the time, so this is an evolving landscape. Twenty years ago, we weren’t talking about cybersecurity insurance or cybersecurity risk. Risks are evolving; the CFOs’ jobs are evolving with that.

[22:15] Other concerns in the report are workforce post-pandemic challenges around finding and retaining talent, the cost of labor, macroeconomic conditions, supply chain, and geopolitical risk. Joah’s office is the airport; she works all over the country. She has traveled for the last 25 years of her career but thinks there’s value to the corporate culture in the office.

[23:20] Travelers has a three-day-a-week in-the-office policy; some are there four or five days. Some prefer to be home for two work days, or on the road with their jobs. Employers need to be flexible and make adjustments as needed. The labor shortage has shifted the leverage toward the employees, rather than the employers. [24:13] Employers need to adjust for the employee demographics coming on board. Their expectations about the workforce are different than the expectations of Baby Boomers of thirty years ago, Employers have realized this and become more flexible. Employee engagement is the name of the game. You don’t want people jumping ship for a raise at a competitor.

[24:46] In the report, 88% of the CFOs surveyed are very confident that their company has taken necessary strategic steps to remain resilient. A lot of them believe the 2024/2025 economic outlook is pretty strong. Inflation is subsiding. Interest rates have come down. CFOs are comfortable with their risk management strategies.

[25:28] Joan thinks the insurance industry, brokers, and agents have something to do with that confidence. There’s a lot of expertise in the agent and broker communities and it’s great that businesses have tapped into them. Agents, brokers, and carriers have seen it all with their claims data.

[23:53] The 2024 CFO Study, A Travelers Special Report is available through a link in this episode’s show notes. The has a plethora of information on their webinars and podcasts.

[26:12] Justin and Joan are both strong users of LinkedIn. Joan wasn’t an early adopter but joined about five years ago. She finds it to be a great tool for business growth and career development. She loves mentoring young people and putting out thought leadership. She’s all in on LinkedIn.

[26:42] Joan, it has been such a pleasure to meet you. I look forward to seeing you at RISKWORLD 2025.

[26:53] A RIMS reminder! The links to the RIMS RISKWORLD Show Daily are in this episode’s show notes. If you couldn’t attend RISKWORLD, or if you did attend and want to relive some of the highlights of RISKWORLD 2024, check out the links in the show notes! Coverage of the general sessions, keynotes, and more can be found on the digital pages of the Show Daily.

[27:25] My friends Joe and Chante from our marketing and design team always do a fabulous job with the layout, art, and distribution to all of you! A big shoutout to our good friend Joe Zwielich, also of RIMS, who was taking photos constantly while we were on site. He did a marvelous job.

[27:48] On April 26th, the world celebrated World Intellectual Property Day, which is led by the World Intellectual Property Organization. With so much digitization and viral videos in the world, IP is a big risk for a lot of organizations. To learn more about this risk I reached out to one of my favorite members of the RIMS Greater Bluegrass Chapter, Chuck Baxter.

[28:24] Chuck is the Executive Vice President of IPISC, Intellectual Property Insurance Services Corporation. They handle patent insurance. I thought it would be great fun to catch up with him. World IP Day has passed, but the risks have not. Let’s learn what’s ahead. Chuck Baxter, welcome to RIMScast!

[28:54] Chuck has been attending RISKWORLD for eight or nine years. It’s an important event for IPISC. IPISC specializes in insurance for intellectual property risks. IPISC has been insuring intellectual property risks exclusively for over 30 years. Intellectual Property is in everything. It’s everywhere. It’s in all kinds of business transactions.

[29:55] It could be a copyright for something you created, or a name for your product or service, or an innovation protected by a patent. You might not recognize your copyright, or you may be at risk of being accused of infringing on a copyright or patent unknown to you. All risk professionals need to know the risks.

[30:31] World Intellectual Property Day is important everywhere. Everyone has IP issues. Different countries protect it in different ways. The World Intellectual Property Organization promotes World IP Day to raise awareness that IP rights are important and should be protected.

[30:52] They are the incentives for creators that provide rewards for the risks people take when they are doing something new. Those rewards in the form of IP rights can create value for a company.

[31:10] If somebody comes after you for what you are doing, the freedom to operate within your market is crucial. Being accused of infringing on somebody else’s IP rights can be devastating to a small-to-midsized company that can’t sustain the multi-million dollar cost of fighting the case. Chuck sees a lot of suits, especially among competitors trying to shut down a new player.

[31:47] Forward-thinking businesses obtain IP insurance before bad things happen. Risk professionals need to know that everyone should be thinking about this and putting IP insurance in place before they need it, like any insurance. It is essential. When a small company thinks ahead and has this protection, they’re not simply squashed like a bug by a larger company.

[32:43] The smaller company may have the better position. Chuck shares a case study of a small company’s patent case that went to the Supreme Court. The company was under a legal cloud until they prevailed.

[33:33] January 1st is Public Domain Day in the U.S. for workers over a certain age. The Winnie the Pooh copyright expired so horror movies are coming out with Winnie the Pooh. IP rights last for a set number of years, not forever.

[34:45] It’s not the idea that can be copyrighted but the expression of the idea. IPISC says overprotecting intellectual property is as harmful as underprotecting it. Creativity is impossible without a rich public domain.

[35:26] Successful companies like the Disney Company built many of their franchises on public domain characters. Some Disney characters, like the original Mickey Mouse in Steamboat Wilie, are now in the public domain.

[37:15] Chuck addresses IP for music. Copyright affixes the moment you put something into a tangible medium and digital recordings count. The most popular owners of copyrights in music are exposed to copying but you don’t know who will be the most popular.

[38:38] Popular works are exposed to claims of infringement by other creators if they can prove the creator of the popular work had access to the original work. Two independent creators may create the same thing without infringing. If one heard the other first, they may have copied it and be liable. You can do it for the love of it, but if you get some success, you’ve got exposure.

[39:33] Chuck, it’s been a real pleasure to speak with you on RIMScast. Thank you for coming to RISKWORLD 2024.

[39:46] Special thanks again to my guests, Oliver Wild from AMRAE, Joan Woodward from Travelers, and Chuck Baxter from IPISC! Links to their LinkedIn profiles are in this episode’s show notes. The reports that we reference are linked in this episode’s show notes.

[40:06] I had a great time hanging out with them and many of you at RISKWORLD 2024. Shoutout to the RIMS events team for outdoing themselves yet again! We’ll see you in Chicago in 2025!

[40:22] It’s plug time! The RIMS App is available to RIMS members exclusively. Go to the Apps Store and download the RIMS App with all sorts of RIMS resources and coverage. It’s different from the RIMS Events App. Everybody loves the RIMS App!

[40:55] You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in our show notes. RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let’s collaborate! Contact for more information.

[41:39] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit or email for more information.

[41:57] Risk Knowledge is the RIMS searchable content library that provides relevant information for today’s risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more.

[42:13] For the best reporting on the profession of risk management, read Risk Management Magazine at It is written and published by the best minds in risk management. Justin Smulison is the Business Content Manager at RIMS. You can email Justin at

[42:34] Thank you for your continued support and engagement on social media channels! We appreciate all your kind words. Listen every week! Stay safe!

Mentioned in this Episode:

RISKWORLD 2025 will be in Chicago! May 4‒7


RIMS DEI Council

Spencer Educational Foundation — Grants Page

RIMS-Certified Risk Management Professional (RIMS-CRMP)

RIMS-CRMP Virtual Workshops

RIMS ERM Conference 2024 — Nov 18‒19 — Boston, MA — Call For Session Submissions by May 13.

RIMS Risk Management Awards Edition 2024

Spencer-RIMS Risk Management Challenge 2025 — IIRM Hyderabad Wins!

RISKWORLD 2024 Show Daily — May 6, May 7, May 8

AMRAE — Download the 2024 RMIS Panorama

2024 CFO Study: A Travelers Special Report


RIMS Webinars:

Respond to Emerging Risks with this Winning Property Loss Control Formula | Sponsored by TÜV SÜD GRC| May 23, 2024

Uncovering Hidden Risks in Your Third-Party Risk Management Program | Sponsored by EVIDENT ID | June 6, 2024

Unlocking the Value of Business Continuity and Insurable Risk Management | Sponsored by Riskonnect | June 13, 2024

Upcoming Virtual Workshops:

See the full calendar of RIMS Virtual Workshops

RIMS-CRMP Prep Workshops

Related RIMScast Episodes:

“RISKWORLD 2024 Keynote Peter Diamandis”

“Climate Disclosures with RISKWORLD 2024 Session Leader Jana Utter”

“RIMS 2024 Goodell Award Winner Eamonn Cunningham”

“RIMS 2024 Rising Star Chelsea Andrusiak”

“The Rise of RMIS with Francois Beaume of AMRAE”

Sponsored RIMScast Episodes:

Accident Prevention — The Winning Formula For Construction and Insurance | Sponsored by Otoos (New!)

Platinum Protection: Underwriting and Risk Engineering's Role in Protecting Commercial Properties | Sponsored by AXA XL

“Elevating RMIS — The Archer Way” | Sponsored by Archer

“Alliant’s P&C Outlook For 2024” | Sponsored by Alliant

“Why Subrogation is the New Arbitration” | Sponsored by Fleet Response

“Cyclone Season: Proactive Preparation for Loss Minimization” | Sponsored by Prudent Insurance Brokers Ltd.

“Subrogation and the Competitive Advantage” | Sponsored by Fleet Response

“Cyberrisk Outlook 2023” | Sponsored by Alliant

“Chemical Industry: How To Succeed Amid Emerging Risks and a Challenging Market” | Sponsored by TÜV SÜD

“Insuring the Future of the Environment” | Sponsored by AXA XL

“Insights into the Gig Economy and its Contractors” | Sponsored by Zurich

“The Importance of Disaster Planning Relationships” | Sponsored by ServiceMaster

RIMS Publications, Content, and Links:

RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

RIMS Virtual Workshops

On-Demand Webinars

RIMS-Certified Risk Management Professional (RIMS-CRMP)

RIMS-CRMP Stories — New interview featuring Manny Padilla!

Spencer Educational Foundation

“Leveraging Insurance and Risk Management to Address Political Risk” — RIMS Executive Report

RIMS Events, Education, and Services:

RIMS Risk Maturity Model®

RIMS Events App Apple | Google Play

Sponsor RIMScast: Contact or for more information.

Want to Learn More?

Keep up with the podcast on and listen on Spotify and Apple Podcasts.

Have a question or suggestion? Email:

Join the Conversation!

Follow @RIMSorg on Facebook, Twitter, and LinkedIn.

About our guests:

Oliver Wild: President of the Association for the Management of Risk and Insurance of Enterprise (AMRAE), Group Chief Risk and Insurance Officer at Veolia

Joan Woodward is Executive Vice President of Public Policy for Travelers and President of The Travelers Institute Joan’s LinkedIn: Joan Woodward

Chuck Baxter, Esq., Executive Vice President and General Counsel, IP ISC

Chuck Baxter’s LinkedIn: Chuck Baxter

Tweetables (Edited For Social Media Use):

One of the critical aspects of these risk management information tools, and one of the key benefits, is all about information sharing. — Oliver Wild

The quality of SaaS tools has improved, right off the shelf. You can adapt and shape the tool to your needs. Risk managers are very happy with the tools that they have. They are easy to implement. — Oliver Wild

CFOs are key decision-makers in selecting the right solutions. CFOs rely on risk managers in the company. — Joan Woodward

A lot of companies have a risk committee on their board of directors. Overseeing risk management is probably one of the most difficult things a CEO has to worry about. — Joan Woodward

Intellectual Property is in everything. It’s everywhere. It’s in all kinds of business transactions, whether somebody has created something new and has a copyright in it, they have a name for their product or service, or they have innovation that they protect through patents. — Chuck Baxter

You can do music for the love of it, but you have to recognize that if you get some success, you’ve got exposure. — Chuck Baxter

Live From RISKWORLD 2024! - RIMScast (2024)


Where is RIMS Riskworld 2024? ›

This year, RISKWORLD will be in San Diego. There's no limit to what you can achieve when you join the global risk management community at RISKWORLD®.

Where is RIMS Riskworld 2025? ›

RIMS 75th Anniversary Celebration Set For RISKWORLD 2025 IN CHICAGO. NEW YORK (June 8, 2023) – For the first time since 2003, RIMS, the risk management society®, will bring the world's largest gathering of risk management and insurance leaders back to Chicago for RISKWORLD® 2025.

What do RIMS stand for in insurance? ›

The Risk and Insurance Management Society, Inc. (RIMS), is an industry association of risk managers that publishes several periodicals, lobbies, sponsors seminars, and conducts an annual conference.

What is risk and management? ›

Risk management is the continuing process to identify, analyze, evaluate, and treat loss exposures and monitor risk control and financial resources to mitigate the adverse effects of loss.

What is RIMS membership? ›

RIMS membership connects you with our global community of more than 10,000 risk professionals. Members receive complete access to all of our valuable content and networking opportunities. Join Now.

Where is the Rims Canada Conference in 2024? ›

Be a business partner with the 2024 RIMS Canada Conference, which takes place on Sunday, October 6 - Wednesday, October 9 at the Vancouver Convention Centre.

Does rim insurance cover? ›

What is Rim Damage Cover in Car Insurance? In case any damage or loss is caused to an insured vehicle's wheel rims, a rim damage cover will offer reimbursem*nt in case a rim or rims get physically damaged or warped. This can be caused as a result of a blowout or due to driving over kerbs, potholes or road debris.

What is a rim code? ›

The wheel rim ID number or manufacturer code contains information on: the size of the wheel rim, the tyre bead profile, what kind of hump design it is and what the positive offset is.

What is rim full for? ›

Records information management is also known as records management (RM) and records and information management (RIM).

What are the 5 risk in risk management? ›

There are five basic steps that are taken to manage risk; these steps are referred to as the risk management process. It begins with identifying risks, goes on to analyze risks, then the risk is prioritized, a solution is implemented, and finally, the risk is monitored.

What are the 5 importances of risk management? ›

There are five key principles of risk management: risk identification, risk analysis, risk control, risk financing, and claims management. Let's look at each one in more detail. Risk identification – This is the process of identifying potential risks to an organization.

What does the acronym rims stand for? ›

The acronym RIMS stands for "Regulatory Information Management System." It plays a vital role in supporting both industry and regulatory authorities by efficiently managing regulatory data and documents to ensure compliance.

What do rims mean? ›

The difference between wheels and rims

Perhaps think of it this way: “rim” means “edge,” and rims are located on the edges of your wheels.

What does rim stand for in cars? ›

The rim is the "outer edge of a wheel, holding the tire". It makes up the outer circular design of the wheel on which the inside edge of the tire is mounted on vehicles such as automobiles.

What does the rims conference stand for? ›

RIMS, the risk management society®, empowers risk professionals to make the world safer, more secure, and more sustainable.

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