The IRMA Community
Newsletters
Research IRM
Click a keyword to search titles using our InfoSci-OnDemand powered search:
|
Collaboration in Risk Markets
Abstract
Collaboration can be an effective tool for managing risk. A structured environment for sharing critical risk information can improve decision-making. The business environment currently in place makes it difficult to collaborate, due to complex and overlapping regulatory schemes. In addition, the computing framework used in risk-based sectors is not integrated, resulting in a patchwork of ad-hoc systems that make it difficult to collaborate in an efficient or transparent way. This chapter will present an example of a business framework in which organizations collaborate by trading risk-based products. This arrangement mitigates risk by allocating it to those organizations that can best handle it. A computing framework utilizing Web Services is presented that can help facilitate these types of transactions. Several challenges recur in knowledge management of risk, including trust, information filtering, connecting information (‘connecting the dots’), and fluid information exchange. Examples from the insurance and financial industries are presented. Knowledge management of risk information can be facilitated by the development of an Ontology used to describe Web Semantics. A user interface for knowledge management that incorporates collaborative mapping, filtering, and community discussion is presented. Collaboration is being used more frequently to handle core business processes (deep collaboration) as opposed to generic communications such as Wikis (shallow collaboration). A structured environment for collaboration is risk environments can improve security, transparency, and effectiveness. This type of environment might have been used to mitigate the impact risk-based problems such as the current financial emergency. In conclusion, it is posited that a new type of product can emerge which incorporates the social-computing value of risk.
Related Content
|
Prasanna Ranjith Christodoss, Rajesh Natarajan.
© 2022.
14 pages.
|
|
K. Uday Kiran, Gowtham Mamidisetti, Chandra shaker Pittala, V. Vijay, Rajeev Ratna Vallabhuni.
© 2022.
12 pages.
|
|
Amalraj Irudayasamy, Prasanna Ranjith Christotodoss, Rajesh Natarajan.
© 2022.
20 pages.
|
|
Koppula Srinivas Rao, S. Saravanan, Kasula Raghu, V. Rajesh, Pattem Sampath Kumar.
© 2022.
15 pages.
|
|
Swapna B., Arulmozhi P., Kamalahasan M., Anuradha V., Meenaakumari M., Hemasundari H., Aathilakshmi T..
© 2022.
21 pages.
|
|
Archana K. S., Sivakumar B., Siva Prasad Reddy K.V, Arul Stephen C., Vijayalakshmi A., Ebenezer Abishek B..
© 2022.
15 pages.
|
|
Swapna B., M. Kamalahasan, S. Gayathri, S. Srinidhi, H. Hemasundari, S. Sowmiya, S. Shavan Kumar.
© 2022.
12 pages.
|
|
|