Drew Hannan, Global Risk Management Manager from Asurion, spent an afternoon on campus with the CRMER Student Fellows on Wednesday, February 15th. Drew began his presentation with an introduction about Asurion, the world’s largest provider of cell phone insurance and technology solutions. Drew joined Asurion as an International Risk Manager in 2015, after previously working for Lockton Companies. In his current role at Asurion, Drew is responsible for ensuring the success of Asurion’s global operations by identifying risks, and using different tactics to manage the risks facing Asurion’s business.
Drew defined risk as exposure to danger, harm or loss. Effective risk management, Drew explained, should help companies avoid having to use their own insurance. In order to effectively manage risk, Drew discussed the importance of conducting risk assessments. Drew shared a heat map with examples of possible risks a business could face. He explained how he uses data analysis tools like this to evaluate the probability and severity of different risks that could impact a company. This opened up into a conversation about the areas companies must consider to identify and mitigate risks.
Following this discussion, Drew walked us through some different business scenarios. He displayed a few hypothetical examples of risk associated with exploring new international business operations, severe weather threats to a large warehouse, and reacting to political tensions in current global operations. It was very exciting for the fellows to see Drew in action as he broke down each scenario for us and gave a comprehensive explanation of the various risks a company would face in these situations.
We were fortunate enough to end the lecture with the opportunity to ask Drew some questions about his own career and current role at Asurion. Asurion adjusted their business while considering risks to develop from providing cell phone insurance, to now also providing technology solutions and support to a world with a growing dependency on technology. We learned a valuable message about the importance of being able to adapt, not only in the business world, but in life.
We really appreciate Drew taking time to share his knowledge and enthusiasm for risk management, which has made us eager to learn more in the future.