Risk Engineering

 

Designed to minimise exposure to business risks, reduce losses and keep future premiums as low as possible.

 

Risk Engineering is one of the fundamental strengths of Mitsui Sumitomo Insurance (MSIG). Our risk management approach, which is core to our underwriting process, is successful in reducing losses and costs across large blue-chip companies.

 

Working closely with our Claims Management team, our Risk Engineers build up a clear picture of the most common causes of loss in specific industries.

 

This knowledge is invaluable in quickly identifying and concentrating on the key hazards and areas of risk in an insured’s business and evaluating current risk management procedures. We work closely with experienced consultants, in every case selected for their in-depth, specialist knowledge of the specific industry.

Our consultants ensure the most up top date technical advice and guidance is always at hand. Appointments for site visits and consultancy work are agreed in a timely manner so our insureds are aware of the proposed format of the visit and what type of information is likely to be requested by our consultants. The use of our broker partners’ risk management services in the mid-market sector eliminates duplication of effort and therefore helps in keeping our premiums as low as possible.

 

Our account managers review all work undertaken by our risk management consultants, to ensure that reports meet our high technical demands. We also audit all consultants on a regular basis, to check that they keep on top of the latest technical developments and industry standards.

 

We also maintain total security of information – all data and proprietary information is kept confidential and risk management information supplied by our consultants to our database is in encrypted form, which cannot be intercepted and opened.

 

 The key benefits of our risk management service

 

• Promotes current best practice for procedures
• Communicates risk management requirements throughout the business
• Co-ordinates a comprehensive approach to risk management
• Develops a partnership approach, using risk recommendations rather than formal policy requirements
• Prioritises actions to mitigate risk
• Focuses risk management activity on potential future sources of claims
• Develops robust claims management and defence systems
• Reduces claims, losses and costs
• Feeds risk management improvements directly into our underwriting process with minimal administration

 

For more information on specific Risk Engineering services, please click below : -

 

• Property
• Casualty
• Motor (Fleet)
• Construction
• Marine
• Professional Indemnity

 

 

We can also offer invaluable, practical help in other ways: -

 

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Building on our core philosophy of developing strong working relationships with our brokers and their clients, we have created eRisc© – a highly flexible and valuable risk management tool.

 

Through totally secure online access into the eRisc© database, brokers and their clients have access to all of the risk management information we have built up on the insured’s company and their industry sector.

 

Easy to access and analyse, it provides the following features and benefits: -

 

• Secure web access to comprehensive risk management information, recommendations and benchmark profiles across all the insured’s sites, made as a result of our 'Risk Insight' profiling visits.
• Save time and resources by the ability to circulate key reports and recommendations to key individuals in the company
• Allows the prioritisation of actions, management of recommendations and the identification of key dates for their completion.
• Create and view customised reports on-line, as well as giving us instant feedback on recommendation status.
• Updates on risk management status are passed to our underwriters electronically ensuring insurance costs reflect progress in risk management standards.
• The ability to adapt business practices and reduce future claims by looking at statistics on the most common causes of claim in specific industries and sectors
• eRisc© also gives access to our extensive risk management library, containing hundreds of valuable guidance documents, some of which are templates designed for use as part of an insured’s own risk management system. We provide specific guidance on material damage, business interruption, employers, public and product liability and motor fleet risk management.

 

>>Click here for more detailed information on MSIG's Risk Management Systems

 

Additional Services

 

In line with our aim to be the leading UK insurer in terms of proactive risk management, MSIG has brought together a suite of additional services to compliment our proposition. These include: -

 

Reportline
A telephone reporting service for all manner of incidents including accidents, dangerous occurrences, fires, diseases etc. This service ensures that all necessary incidents are reported to regulatory bodies and removes the need for managers to worry about gathering and reporting information on accidents. Each month a management report is prepared and issued to the management team to help them identify trends and take remedial action. The system brings benefits to claims management as the speedy collection of detailed facts about an incident helps manage the claims process and helps minimise potentially expensive claims disputes.

 

Business Continuity Management (BCM)
Managing business continuity, and planning for it the event of an incident, such as a fire or flood, can save organisations many thousands of pounds in lost revenue and profit. It proactively improves an organisation’s resilience against the disruption of its ability to achieve its key objectives. Also, it provides a rehearsed method of restoring an organisation’s ability to supply its key products and services to an agreed level within an agreed time after a disruption. MSIG’s BCM planning tools and services allows you to assess your organisation’s preparedness to deal with operational trauma and give guidance on how to handle the media following an incident 

 

Thermographics Surveys
MSIG have joined forces with Munters, a global leader in property reassurance services, to provide a comprehensive Building Assessment Survey as a key element of Business Continuity Management (BCM). Using the latest non-destructive testing technology coupled with qualified technicians, Munters will undertake a water and electrical fire risk assessment. Areas of concern to the building envelope and its utilities are identified and protected, such as: -

 

• Water Leakage
• Energy Leakage
• Electrical overload
• Water ingress
• Inherent moisture problems

 

Maintenance programmes can be undertaken post survey to prioritise repair work to eliminate the immediateand ongoing risks.

 

BusinessRisc
A personalised web based tool which provides a business with a complete risk management system which can be further developed and shaped by business managers. The tool includes the help of a qualified support team who work with each business to produce a monthly risk management newsletter and ensure that the system is updated with appropriate content. The system is an invaluable management tool but can be used to demonstrate due diligence to clients and enforcing authorities.

 

LegalRisc Helpline
A service designed to give legal advice on a range of issues affecting today's business owner including human resources, employment and contract law.

 

Health & Safety Training
Discounted NEBOSH health and safety training courses which can be bespoked and branded to meet client needs.

 

Discounted Supply Procurement
MSIG has negotiated specially discount rates with leading suppliers of health and safety and accident prevention equipment such as protective clothing and signage.

 

Driver Training and Assessment
A range of driver training and driver assessment services can be provided by our long standing motor fleet risk management consultancy partner at a discounted rate negotiated by MSIG for our broker’s clients.

 

SmartDrive
Innovative use of technology allows a unobtrusive camera to be placed in a vehicle cab to capture footage of motor vehicle incidents for later viewing by the fleet manager. SmartDrive is an invaluable tool in an ongoing driver training program and provides potentially crucial extra evidence in a claims situation. It is available at a discounted rate for our broker’s clients.