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IQRM

Intelligence Quotient for Risk Management

Learn how IQRM can help protect your business.

The Intelligence Quotient for Risk Management, or IQRM, measures exposures and determines the general effectiveness of strategies to manage risk.

What is the Scoring Process?

  • Become better educated about risk issues facing your organization.
  • Benchmark performance against ideal industry standards.
  • Consider best practices to control and mitigate risks.
  • Access reference resources to gain further knowledge of the implications of risk.
  • Design an action plan to improve the IQRM score.
  • Have a positive impact on business performance by taking an enterprise-wide solutions approach.
  • Leverage the IQRM improvement process to achieve positive results in the insurance marketplace.

What is the Scoring Process?

The IQRM is designed to evaluate your organization’s management of risk. The scoring system determines effectiveness through the assessment of policies, procedures, and controls.

When evaluating risks based on the criteria contained in the risk check survey, you should consider the following in determining effectiveness:

Activities

Tasks and actions that create or implement risk management policies, practices, procedures, and programs.

Behaviors

Actions and conduct that affect performance—positively or negatively.

Internal Controls

Internal processes, assessments, and framework for ensuring compliance with program goals.

Internal Assessments

Risks that have the potential to cause loss, peril, or vulnerability; or that create opportunities for organizational success.

Outcomes

Qualitative and quantitative measurements and metrics that assure the achievement of risk management and organizational goals and objectives.
IQRM-IQRM Measures Exposures and Determines the General Effectiveness of Strategies to Manage Risk

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