Success stories

Over the years I was lucky to write many success stories. For me risk management/insurance is not only to reduce risks it is much more to help to create opportunities. Providing the right information at the right time, means also to foresee what might come next and create scenarios. I selected some of my personal success stories and combined those with photos which reflect guidance. My personal success stories came all to life when different functions work together in true partnership.

Innovative Risk Financing concepts

Showing the CFO lower premium and total cost of risks is my highlight too. Nevertheless, high deductibles, claim costs and limited available insurance coverage make this goal difficult. My highlight is therefore a holistic concept we developed, including claims mgmt., collateral reduction. We included subcontractors, HSEQ as well operational processes for claims prevention. We delivered savings over a 3yr period USD 6m each in claims and premium and USD 23m in collateral.

The Global Underwriting Program for benefit insurances stabilized the yearly medical cost increase and provided finance planning security. Data and different prevention initiatives allowed to reduce further costs in absenteeism.

People risk

Several tens of thousands of employees work for CEVA and its partners. Cost for personnel related insurances, i.e., medical, life, workers compensation, is a major budget item. Significant staff turnover results in high costs, i.e., due to recruiting and training needs.
Together with HR Compensation & Benefits I enhanced the people risk framework significantly. Already in 2015 I established a Global Underwriting Program, it provided access to medical dashboard with detailed claims information and prevention material. With my Health & Safety team we were able to use those data for tailored prevention solutions. The program resulted in significant financial efficiencies per annum as well reduced loss time. We combined the initiatives with various aspects of ESG / Sustainability.

Covid-19 BCM

Covid-19 has impacted global supply chain in an unprecedented way. My personal learning process in dealing with pandemic situations began in 2006. Over the years I have been able to develop my skills in various crisis. Early in 2020, with an individual preparation by all departments, we were able to act very flexible. This allowed locations to adjust to their situation best. The global Task Force I led gained very positive feedback from the CHRO, the staff (high satisfaction index in representative staff survey / European Workers Council) and the business (very limited financial impact.)

Intercultural challenges

Working in an international and multicultural environment with a global team and M&A projects around the world, a sensitive approach is essential. During my secondment in Abu Dhabi/UAE I steered with respect to the project's major cultural, structural and organizational difficulties between the Joint Venture partners. Despite several changes in strategy in the course of the setup we managed to establish the business faster and smoother than expected by local observers.

Quality Assurance

Together with a small team I established an umbrella quality certification in a modular system for all locations. Through risk management we identified the potential loss of ISO 9001-certification. We decided for an umbrella certification approach to include all locations in the network. It allowed us to be ready for additional certifications, (i.e., within the regulated market such as GDP, ISO13485 and CEIV). We were able to be ready for ISO 9001 certification within the very short timeframe of 6months and saved a significant number of men-hours and costs. The following year we expanded to ISO 14001 and 45001, both helped to continuously improve and streamline processes in environmental and occupational safety. We delivered increased consistency, reduced risk - one standard, which is also expected by customers.