Risk & Controls Self Assessments (RCSA)

Flexy helps major insurance company identify risks using surveys and strengthen controls performance.



This insurance company's risk department was using Risk & Controls Self Assessment (RCSA) surveys to identify risk exposures and control weaknesses. These were carried out in workshop formats and over email in excel. Even before Covid-19 made in person workshops difficult, it was proving very difficult for the risk team to consolidate the outputs of these surveys, identify and track the key risks identified and to monitor set up and effectiveness of those key controls that were needed to mitigate these risks.

"RCSA workshops and surveys were becoming more like a paper exercise with a pretty looking deck as the main output"


Flexy to the Rescue!


RCSA surveys were designed in Flexy and relevant departments were notified. Responses were captured and reviewed using workflows. Database of responses and results of these review were maintained in Flexy. Key risks that were identified were automatically moved into respective department's and company's Risk Registers in Risk HAWC's Risk module and control monitoring were automated using Risk HAWC's Control management module. If new controls were needed to be set up then Risk HAWC's Action plan management module was used to link the plan for setting these up to the respective risks and controls and track delivery of the same.