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Have you ever wondered what’s on the minds of some of the top thought leaders in the world of Risk Management?
Thought Leader is a blog series featuring LineSlip clients who are regarded as some of the most forward-thinking leaders in the world of risk. Get to know these leaders, their organizations, and their thoughts on the ever-evolving world of risk.
This month’s featured Thought Leader is John Lambdin, ARM.
John is Director of Insurance and Assistant Corporate Secretary for Weyerhaeuser Company, the international forest products company headquartered in Seattle, Washington. He is responsible for the establishment of operating policy and the planning, management, and execution of the corporate insurance program for Weyerhaeuser. After graduating from the University of California at Los Angeles with a B.S. degree in engineering, he worked as a fire protection engineer for Kemper Group and American International Group before going to Weyerhaeuser to join the company’s Insurance Department in 1988. John held a series of positions of increasing responsibility in the Insurance Department before being appointed Director of Insurance in 2005.
LS: How has your thought process around risk management evolved as a result of COVID?
TL: My thought process has not necessarily evolved. However, COVID confirmed that it is necessary to maintain open communication between risk management and other stakeholders inside and outside the company to assure prompt response by the appropriate risk owners and decision-makers and to remain flexible and willing to adapt existing processes to the unexpected.
LS: What trends have you observed over the past year, and do you believe that they will have a lasting impact on how you and your peers manage risk?
TL: The pandemic has forced us to work remotely and has revealed the efficiencies, in both time and expense, associated with reduced commuting and reduced commercial office space. Information and processes have been forced out of physical paper files to electronic filing and communication. At the same time, this has introduced risks associated with working from home offices over the internet and in the cloud. Although cyber risk management has been important for some time now, this has emphasized the urgency of risk management working closely with I.T.
LS: What role does technology play in your department today, and where do you see the opportunity for technology in the future?
TL: We currently use three separate information systems for liability claims, workers compensation claims, and overall enterprise risk management. Moving forward, the merging of our three RMIS systems may bring added benefits and efficiencies.
LS: What will the world of risk look like ten years from now?
TL: With the rapid development of Artificial Intelligence (A.I.) combined with big data and data analytics, computers may provide warnings far in advance of a natural disaster. Now, we are responding to threats; however, in the future, we may be able to preemptively avoid or minimize loss using A.I.
LS: What advice would you give to young professionals just entering your profession?
TL: Relationships within your organization, with your providers, and with your customers are key to job performance as well as job satisfaction. When a large loss or emergency happens, it is too late to establish a relationship. You will want to be dealing with trusted partners
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