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      "text": "CROs are acting on many fronts to protect their organizations and report progress in enhancing their firms' risk management capabilities.",
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      "text": "That's true not only in terms of protecting the enterprise from proliferating near-term risks, but also for devising comprehensive plans for dealing with significant risks forming on the horizon. Enhancing business performance increasingly calls for strong risk leaders capable of providing timely and insightful guidance to the senior business leaders and the board. Many of today's most pressing risks are related to the profound shifts reshaping the industry today – from technology disruptions and rising regulatory requirements, to new market entrants and new capital sources, to increasing customer expectations, intensifying competition and the need for new business models. The results of our inaugural survey of insurance industry CROs, conducted with the IIF, demonstrate the expanding and diversifying risks insurers face now. They also highlight the imperatives and complexities that make the CRO role one of the most difficult in the C-suite today. Even setting priorities can be a challenge when risks evolve constantly and seem to get more urgent all the time, especially those “megatrends” far beyond the control of any one company or sector. Limited access to the right resources, scarcity of key skills and intensive supervision only compound the difficulty of CROs' jobs.",
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      "text": "Some industry observers describe the current moment as a “polycrisis.” That's understandable, given the diversifying and interconnecting risks and the backdrop of high market volatility, macroeconomic uncertainty and geopolitical tensions. But our research also presents some reasons for optimism. CROs are acting on many fronts to protect their organizations and report progress in enhancing their firms' risk management capabilities. In interviews with survey respondents, we heard repeatedly from leaders who feel inspired by what's possible with advanced technology, richer data sets and skilled teams. They certainly aren't shying away from the daunting challenges. That's a mindset that will serve CROs well, along with bold and creative thinking, as they seek to drive higher levels of risk management performance and assume a more strategic role in advising the business.",
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