Enterprise risk management in the insurance industry: Trends and future directions

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Systematic literature review highlights ERM trends and gaps in the insurance sector, suggesting future research avenues.

Enterprise risk management is evolving, emphasizing the need for improved strategies in the insurance sector.
Key determinants of ERM include corporate governance, board composition, and firm size across developed and developing economies.
Systematic literature review analyzed 187 papers from 1977 to 2021, uncovering significant research gaps in risk culture and the role of executives in ERM implementation. Research findings indicate that ERM, risk management, and risk-based capital are interconnected, influencing broader organizational success.

Kumar et al. (2024) studied this question.

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