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Dec 18, 2018

Welcome to RIMScast. Your host is Justin Smulison, Business Content Writer at RIMS, the Risk and Insurance Management Society.


This is the second episode of the two-part series, coming to you live from the RIMS Risk Forum 2018 in India. Many outstanding conversations were had from leaders in the risk management community in India and the Asia-Pacific region — and today, the conversation continues.


In this edition, Justin talks with Ashish Parakh, Senior Vice President of Strategy, Risk Management Practice, Data & Analytics, and Marketing & Communications at Marsh about Risk Finance Optimization and issues facing the risk management discipline and the greater economy. After that, Carissa Hickling of Talent Acquisition Strategy & Technology Global Consultant for Siemens continues the conversation of diversity in Corporate India, such as the risks and opportunities they face, based off the panel she presented at the convention. And the final guest, Wolfram Hedrich, the Executive Director of the Asia Pacific Risk Center in Marsh & McLennan Companies, also continues his conversation from the panel he led, entitled “Excellence in Risk Management: State of Risk Management in India.”


Key Takeaways:

[:09] About today’s episode.

[1:27] About today’s first guest — Ashish Parakh.

[2:20] Ashish describes his area of specialty and how it is applied.

[6:02] The key messages and takeaways Ashish has for risk managers in India.

[7:45] Industries in India Ashish feels really need more risk managers.

[9:16] About today’s next guest — Carissa Hickling.

[9:55] Carissa talks about her background and how she originally came to work and live in India.

[10:30] About Carissa’s work with Siemens.

[11:07] Carissa explains where diversity intersects with risk in India.

[12:35] Does diversity mean different things to different people within corporate India?

[14:11] Justin and Carissa talk about Section 377 in India.

[15:41] What Carissa thinks the rest of the world could learn from India’s experience.

[16:50] Justin introduces the final guest: Wolfram Hedrich.

[17:22] Wolfram talks about how risks and expectations for risk management are evolving.

[20:49] What should risk managers in India and the Asia-Pacific region know about co-interest rates coming to an end?

[24:35] Wolfram elaborates on what he means when he says, “in every crisis lies an opportunity.”

[27:22] Wolfram’s additional thoughts on the State of Risk Management in India paper.

[28:58] Just wraps up this week’s episode and wishes you all a Happy New Years! You can email Justin at for any suggestions, comments, or feedback.


Mentioned in this Episode:

RIMS Risk Forum 2018 India Photo Gallery

RIMS Risk Forum 2018 India Roundup (Justin’s Coverage on RMM)

RIMS Risk Forum 2018 India Q&A with Shankar Garigaparthy of Lloyds India

Latest Members-Only Episode: Live from RIMS India Risk Forum 2018 with Peter Young

RIMScast: “Speaking with Leaders in Risk Management at the RIMS Risk Forum India 2018 (Part 1)”

Marsh and RIMS State of Risk Management in India 2018 Survey

RIMS Annual Conference 2019 Registration



Marsh & McLennan Companies


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Follow @RIMSorg on Facebook and Twitter, and join the RIMS Group on LinkedIn.


Follow up with Our Guests:

Ashish Parakh’s LinkedIn

Carissa Hickling’s LinkedIn

Wolfram Hedrich’s LinkedIn