Managing housing association risk At a glance With decreased government funding, housing associations are turning to commercial activities to fill the revenue void — but this is creating new risks Many housing associations are moving into areas that they are not necessarily familiar with, or experts on Zurich Municipal has a wealth of experience and expertise in dealing with housing association risk management, both operational and strategic The importance of risk management has never been greater for housing associations. As government funding for affordable housing decreases, some social landlords have diversified into wider, and often more commercial, activities — such as building homes for outright sale or student rentals — to fund housing developments. Whilst, nowadays many housing associations offer some form of social care, a selection of associations have taken diversification one step further by branching out into a more diverse array of activities, such as pest control, glass making and even beauty therapy.
Next, they identified time-limited and quantifiable achievements in each perspective area.
A set of employee expectations and aspirations was developed, and A new degree performance review process engaged all employees in thinking strategically about their own performance and that of others organizationally above and below them.
A benchmark survey was implemented as a tool for gauging progress.
Each UNUM employee was provided with a stock option grant to purchase UNUM shares once the grant was vested, a move that fostered a true sense of ownership among employees. UNUM also made superior long-term value to shareholders a formal goal, measurable in terms of dividends plus share price appreciation.
The Result Using the Balanced Scorecard approach to manage new business complexities brought UNUM closer to its ultimate goal of world leadership in disability and special risk insurance. The company improved its operating cost structure by 22 per cent over a base year, and was on its way to achieving the target of 33 per cent.
The workshop explored trust barriers between employees and managers, and key findings from the workshop were shared throughout the organization.
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Their attitude is that companies that meet their goals win favour with investors and therefore enjoy a more favourable capital position. Download the sample project of BSC Designer that was discussed in this case study. Trademarks mentioned in this article belong to the respective owners.Balanced Scorecard: A Quick Introduction To The Four Perspectives.
Developed by Robert Kaplan and David Norton, the Balanced Scorecard is an extremely influential management tool that remains enduringly popular with companies around the world. In addition to traditional reinsurance solutions, Reinsurance offers insurance-linked securities and other insurance-related capital market products in both Property & Casualty and Life & Health.
Property & Casualty includes property, casualty (including motor), and specialty lines of business. The balanced scorecard approach generally split strategic measures into one of the following: outcome or driver measures, financial or non-financial measures, and .
The paper then takes a closer look at the Balanced Scorecard of a semi-public French insurance company. Suggested Citation: Suggested Citation Wegmann, Grégory, The Balanced Scorecard as a Knowledge Management Tool: A French Experience in a Semi-Public Insurance Company.
Insurance Innovation—Balanced Scorecard This article is based on an address by John Pryor to the All-Industry Day of the Golden Empire Chapter, Society of CPCU, held November 7, Here, he provides a tool to use to facilitate the innovation process in just about every kind of process or system.
Financial Insurance Company Evaluation Balanced Scoreboard Screenshots Metrics for Financial Estimation This is the actual scorecard with Financial Insurance Company Measures and .