Risk, safety and insurance technology specialist Origami Risk has identified a mismatch in how prepared firms think they are in relation to risk and the actual steps they have taken to mitigate risk. The findings were reported in its third annual State of Risk report.

Earne Bentley, division president at Origami Risk. Said: “This year’s State of Risk report suggests that there’s an encouraging level of optimism in the risk management community. A deeper dive into the responses, however, doesn’t support this position.

“There has been a marked deprioritisation of risk management, pulling back on technology investments, slowing of integration efforts, and stalling on supply chain improvement efforts. All of these at a time when novel risks are on the rise.”

He added: “These findings could be a result of prevailing macroeconomic pressures, a natural resetting after the massive investments we saw during the pandemic, or the need to redirect resources to other critical strategic priorities.

“But with so many indicators all pointing toward a backslide from the hard-earned gains made after the pandemic, overconfidence and complacency appear creeping in when the risk environment demands agility and foresight.”