The risk manager of tomorrow will be providing even more detail to the underwriter, will be more company-integrated and will continue to expand in risk financing, say a trio from the sphere of risk management.

"The emphasis will be on having to provide the underwriter with more detail,'' ABB ASEA Brown Boveri global risk manager Mr. Paul York told the Bermuda Insurance Symposium yesterday.

ABB, with sales of $30 billion a year, is the world's largest power engineering group and has one of the largest non-petrochemical captives.

The company employs more than 200,000 people worldwide.

"The key is integration to business. The risk manager is integral to business activity,'' said investment banker J.P. Morgan vice president Mr. William Kelly.

"The risk manager will continue to expand in the risk financing area and be more innovative over the next two years,'' said Monfort Inc. vice president of risk management Ms Lucille Gallagher.

Ms Gallagher is also vice president of the Red Meat Companies division of ConAgra Inc. and is responsible for risk management, employee benefits, safety ergonomics and health and wellness services for that division. She is also president of Monfort's, wholly-owned captive insurer.

Monfort is a division of ConAgra.

Their belief that the risk manager's role will expand over the next two years followed a similar comment made at an earlier symposium session by Mutual Risk Management chairman and CEO Mr. Robert Mulderig.

Mr. Mulderig said the risk manager will take on more responsibility in the future, said panel moderator Ms Kathryn McIntyre.

Ms McIntyre, publisher and editorial director of Business Insurance, is also a symposium committee member.

As well as outlining the role of the future risk manager, the panel discussed outsourcing risk management and broking.

"There will always need to be someone internal,'' said Mr. Kelly, RIMS national president for 1995/96 taking over from Ms Gallagher who served in that role for the 1994/95 term.

"You can't know an organisation unless you're inside. Risk management is the ideal vehicle to get to know every aspect of your organisation,'' he added.

Ms Gallagher agreed: "An inside risk management person is extremely important.'' But ABB is a "perfect source for outsourcing,'' said Mr. York.

The issues surrounding outsourcing include internal claims handling and captives.

Ms Gallagher said she disagreed with Mr. York on claims handling.

"We know more about our liabilities,'' because internal claims handling, she said.

On broking, Mr. York said: "Insurers have to get closer to their ultimate customer and that is not always the broker.'' ABB, though it utilises only one broker for its property insurance, the company does use several brokers for other lines, is "definitely not anti-broker,'' he said.