Davies has selected Initia Risk as its risk and compliance platform as the professional services and technology firm looks to strengthen its risk framework as the business expands globally.
Davies has more than 8,500 professionals across more than 20 countries, working across the insurance, financial services and broader regulated markets.
Initia Risk said the engagement will focus on risk and control management, first-line engagement and leadership reporting, with the aim of giving Davies a more scalable framework that supports strategic decision-making rather than simply meeting minimum regulatory requirements.
The platform will provide Davies with a live view of risks and associated controls, while enabling the employees closest to those risks to take greater ownership of the risk management process.
The companies also intend to improve reporting for senior leadership and the board, reducing reliance on manual collation and spreadsheets.
Initia Risk said the engagement reflects the growing need among regulated mid-market businesses for risk infrastructure that sits between spreadsheets and large enterprise governance, risk and compliance platforms.
Davies supports clients across the risk and insurance value chain, including risk management, core business operations, transformation and growth. The company operates across more than 20 countries.
Financial terms of the engagement were not disclosed.
