Harnessing Innovation’s Promise with ERM Conference Keynote Bob Roitblat

RIMScast

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society. Justin is delighted to welcome innovation thought leader Bob Roitblat to RIMScast. Bob is the keynote speaker at RIMS ERM Conference 2023. He speaks about his keynote, “Elevate, Revolutionize, Maximize: Harnessing Innovation’s Promise.” Bob shares how innovation ties into strategy and risk, and how you can harness the great potential of innovation through careful strategy and risk management. Bob is an engaging speaker who asks his audience to be prepared to participate and learn. Get set for a dynamic keynote presentation on harnessing innovation’s promise for your organization!

Key Takeaways:

[:01] About RIMScast.

[:14] Register for the RIMS ERM Conference 2023, which will be held in Denver, Colorado on November 2nd–3rd. RIMS will also host an ERM-based tour of Ball Arena in Denver on November 1st. Limited seating is available. Visit RIMS.org/ERM to register and listen to this episode to hear the code for 10% off your registration!

[:41] About today’s episode with RIMS ERM Conference 2023 keynote Bob Roitblat.

[1:01] All about exciting, upcoming RIMS events! Would you like funding to hire a risk management intern in 2024? If so, take a moment to apply for a Spencer Internship Grant. The application form will close on October 15th. The link is in this episode’s notes.

[1:27] If you will be attending RISKWORLD 2024 in San Diego, California, take a moment to sign up as a volunteer judge in the Spencer-RIMS Risk Management Challenge 2024. This is our annual international student competition. Full details can be found on the Spencer website at Spencered.org. Get involved; participate. We want to see you there!

[1:51] Head to the RIMS.org/Advocacy page to register for The RIMS Legislative Summit, which is returning to Washington, D.C. on October 25th and 26th.

[2:03] The RIMS ERM Conference 2023 will be held November 2nd and 3rd in Denver, Colorado. On November 1st, RIMS is hosting an ERM-based tour of Ball Arena, where the Denver Nuggets and Denver Avalanche play. There is limited seating. Register at RIMS.org/ERM2023. At checkout, type code 2023RIMSCAST for 10% off registration!

[2:51] The ERM Conference 2023 will be different than years past. We’ve got some great changes. Book your travel plans now! RIMS will host a Post-conference Workshop for the RIMS CRMP from 9:00 to 4:00 MT on November 4th and 5th. Save $100 when you register for the conference and workshop in one transaction. Links are in the notes.

[3:21] Bob Roitblat is a multiple business owner and well-known TEDx speaker. Bob will kick off the RIMS ERM Conference 2023 on November 2nd with his keynote, “Elevate, Revolutionize, Maximize: Harnessing Innovation’s Promise.” Bob is very engaging and I am looking forward to the energy he will bring to the keynote address on November 2nd!

[4:30] Bob Roitblat has started a dozen companies. Each company focused on three areas: innovation, strategy, and risk. The three areas are closely tied together. You can’t be successful in one without the other two. It’s a three-legged stool.

[5:03] Bob describes innovation as doing something new and different that makes a difference. It could be new products or services, a new business model, or a new organizational structure. It’s something that you haven’t done before that will make a difference to your organization. (A positive difference, preferably!)

[6:00] Most of the time when people innovate within an organization, they don’t call attention to it, they just run more efficiently. Amazon is a huge logistics company that runs smoothly. They spend billions on innovation. They bought a robotics company to have robots to deliver products on schedule.

[6:28] There is also the innovation of developing products and services for external consumption by customers. Bob cites Zia Chisti, who invented Invisalign braces. Orthodontia hadn’t changed for 100 years until a Stanford student wanted to change the experience of braces. Within 10 years, he completely altered orthodontia.

[7:20] Richard Montañez, a janitor who worked for Frito-Lay, invented Flaming Hot Cheetos. He altered the landscape for focus marketing. He went after a segment of the market people didn’t think to go after. Now we’re not just marketing to people but to segments of those people. Richard retired as the VP of Multicultural Affairs at Pepsico.

[10:05] Bob describes the upcoming influence of AI digital workers on innovation. In terms of efficiency, we are underselling the capabilities of digital workers. Let’s elevate our perspective. How do we use digital workers to drive the top line, open new markets, and address new submarkets like Montañez did?

[11:44] Software bots may or may not use AI but they are digital workers.

[11:57] RIMS plug time! Sponsor an episode of RIMScast! Contact us at [e-mail]. Justin is pleased, humbled, and excited to announce that RIMS and RIMScast have won the 2023 Excellence in MarCom Award on October 24, 2023, from the New York Society of Association Executives (NYSAE)!

[12:41] On Friday, November 10th, from 10 to 11, NYSAE is presenting a virtual program called ”Podcasting — A Revenue Stream for Your Association.” Justin is honored to be one of the panelists. A link is in this episode’s notes.

[12:57] Upcoming Virtual Workshops: Visit RIMS.org/virtualworkshops to see the full calendar. October 2nd is the last day to register for Applying and Integrating ERM, a two-day course on October 3rd and 4th, led by Elise Farnham. On October 10th and 11th, our friend Gail Kiyomura will host a two-day workshop on Claims Management.

[13:28] Our friend Chris Hansen was recently on RIMScast. He will be leading Managing Worker Compensation, Employer's Liability, and Employment Practices in the US on November 7th and 8th. Be sure to register for that course! Information about these sessions and others is on the RIMS Virtual Workshops page. Check it out and register!

[13:56] On October 12th, AXA XL returns to present Stand Tall: How to Boost your Cyber Posture Against Creative Cyber Criminals.

[14:10] On October 26th, our friends from Zurich return to present a session on PFAS, Forever Chemicals and PFAS Litigation. Visit RIMS.org/Webinars to learn more about these webinars and to register! Links are in the show notes. Webinar registration is complimentary for RIMS members.

[15:11] Bob’s November 2nd keynote preview: Imagine that innovation is a lake. It’s full of potential. Unless you harness that flow in some way, you can’t take advantage of it. Your strategy is a dam. You set it so the flow doesn’t wipe out the town below. That’s good risk avoidance.

[15:57] Maybe your strategy is to use irrigation pipes to make the surrounding land tillable and farmable. That generates revenue. Maybe your strategy is a hydroelectric plant inside the dam and generate electricity to sell. Unless you have a strategy to extract value from your lake of innovation, it only has potential value.

[16:46] The theme of the keynote is how to build your dam strategy to extract value from the innovation that you can identify.

[17:11] Bob says to attend the keynote and be prepared to participate! It will not be a one-way data dump! You won’t be bored! There will be a QIOS session. Bob won’t have all the answers, but he’ll answer your Questions with Ideas, Opinions, and Suggestions! Let’s start the conversation!

[18:00] With Bob’s keynote and the following sessions by other speakers, the people who show up will be overloaded with value, and knowledge, and be prepared to go back to their organizations and “take over the world.”

[18:29] Bob uses lots of images in his keynote, produced by Gen AI and edited in Photoshop and enhanced with Adobe Illustrator. But digital isn’t always the answer. Sometimes analog images are the best way.

[19:47] October is National Cybersecurity Awareness Month. It’s a subject of the Conference and Bob will address it. Listen in the keynote for the top ten innovations Bob thinks will have the biggest impact on Enterprise Risk Management. Two of the ten deal with cybersecurity.

[20:12] Bob shares a point. If you sign up for ChatGPT and you want to have access to the latest LLM, it’s a subscription of $20.00 a month. If you subscribe to FraudGPT, a chatbot that helps you hack into things and be fraudulent, you pay a subscription of $200 a month. Don’t tell Bob that crime doesn’t pay!

[21:04] Bob’s parting words: “If you see me in the hall, grab me, tell me what you want to talk about. If you disagree with me, please speak up, let’s have the conversation. And I've already changed my airfare to stay a little longer ’cause I just saw a new session popped up that I want to go to! So this will be the event of the season! Let’s do it!”

[21:26] Special thanks again to Bob Roitblat, our RIMS ERM Conference 2023 keynote speaker for joining us. Register today at RIMS.org/ERM2023. You get to hear Bob first thing in the morning on November 2nd and you’ll have the chance to connect with him after the keynote, possibly in some other sessions. Links are in the show notes.

[21:49] Go to the App Store on your phone and download the RIMS App. This is a special members-only benefit. Everybody loves the RIMS app!

[22:08] You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in our show notes. RIMScast has a global audience of risk professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let’s collaborate! Contact [e-mail] for more information.

[22:50] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email [e-mail] for more information. The RIMS app is available only for RIMS members! You can find it in the App Store.

[23:13] Risk Knowledge is the RIMS searchable content library that provides relevant information for today’s risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more.

[23:29] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com and in print, and check out the blog at RiskManagementMonitor.com. Justin Smulison is Business Content Manager at RIMS. You can email Justin at [e-mail].

[23:49] Justin thanks you for your continued support and engagement on social media channels! We appreciate all your kind words. Listen every week! Stay safe!

Mentioned in this Episode:

RIMS ERM Conference 2023 | Nov 2–3 in Denver, CO! Enter 2023RIMSCAST at checkout for 10% off registration!

NEW FOR MEMBERS! RIMS Mobile App

RIMS Legislative Summit — Oct 25–26, Washington, D.C.

RIMS Western Regional — Oct 4–6, Vail Colorado

RIMS-Certified Risk Management Professional (RIMS-CRMP)

Dan Kugler Risk Manager on Campus Grant

RIMScast to receive the 2023 Excellence in MarCom Award from the New York Society of Association Executives (NYSAE)!

“NYSAE Webinar: Podcasting — A Revenue Stream for Your Association”

Spencer Educational Foundation — Hire A Risk Intern 2024 | Deadline Oct. 15, 2023

Spencer-RIMS Risk Management Challenge 2024 — Be a Case Study or Join Judging Panel!

RIMS Webinars:

Stand Tall: How to Boost your Cyber Posture Against Creative Cyber Criminals | Sponsored by AXA XL | Oct. 12, 2023

PFAS Forever Chemicals — Regulations, Litigation, New Technologies | Sponsored by Zurich | Oct. 26, 2023

RIMS.org/Webinars Upcoming Virtual Workshops:

Claims Management | Oct 10–11

Managing Worker Compensation, Employer's Liability and Employment Practices in the US | Nov 7

See the full calendar of RIMS Virtual WorkshopsAll RIMS-CRMP Prep Workshops

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RIMS Publications, Content, and Links:

RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

RIMS Virtual Workshops

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Risk Management Magazine

Risk Management Monitor

RIMS-Certified Risk Management Professional (RIMS-CRMP)

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About our guest, Bob Roitblat

Roitblat.com

Tweetables (Edited For Social Media Use):

Imagine that innovation is a lake. It’s full of potential. But unless you harness that water flow in some way, you’re not going to be able to take advantage of it. So you’re going to come up with a dam. Your strategy is a dam. — Bob Roitblat

The theme of the keynote is how to build your “dam strategy” to extract value from the innovation that you can identify. — Bob Roitblat

We’re going to do a QIOS. … I don’t have all the answers, but please, ask your Questions and I will share some ideas, give you my Opinions, and make some Suggestions! Let’s start the conversation! — Bob Roitblat

If you subscribe to FraudGPT, a chatbot that helps you hack into things and be fraudulent, that subscription costs you $200 a month. So please don’t tell me that crime doesn’t pay! — Bob Roitblat