RiskSTOP

RiskSTOP equips risk-takers with knowledge which is critical for them in mitigating their physical risks. We do this by providing:

·       risk management surveys, both site and desktop;

·       advise and coaching for business units to meet risk improvement requirements;

·       Rebuild Cost assessments, both site and desktop.

We are piloting:

·       remote risk management surveys using AI to focus in on key risks to examine;

·       the dynamic use of aggregated data to identify the top 10 risks in business sectors. 

RiskACUMEN is our platform for sharing knowledge and thought leadership of risk-related issues to support sound evaluation, professional judgement and positive outcomes. We do this through articles and podcasts on the platform. You’re welcome to join us at: https://www.riskacumen.co.uk/

Why?

We are keen to let you know why we support the risk management community in identifying and reducing hazards. Why we help businesses and households avoid the often-devastating impact of the Average Clause. And why we are now creating a platform for the community to advance thought leadership through RiskACUMEN.

In our work we see every day how loss prevention saves lives, property, and income. We do this by helping businesses eliminate hazards and secure their premises from perils and human failure.

Where surveyors, ours or those of our clients, identify areas which require risk improvement, we work with business units to expedite loss control measures. This service, unique to the industry and which won for RiskSTOP the Queen’s Award for Enterprise (Innovation) in 2005, consistently receives customer satisfaction ratings of 4.4 to 4.5 out of 5.

It sounds corny, but our core principle really is to put people and their assets at the heart of everything we do.

When our people at RebuildCost Assessment advises businesses the real cost and time it takes to reinstate their buildings after a loss, they give these enterprises the valuations needed to avoid insuring for the wrong amount. That protects businesses from the punitive consequences of underinsurance, or wasting money by over insuring.

When our data analysis discovers that roughly 80% of buildings in the UK are significantly underinsured (on average by 31%, resulting in £680 billion in underinsurance of commercial buildings), and that 14% are over insured (by 21%), we provide the risk community with critical information to manage valuations.

Drilling into this data for each of our clients alerts them of the extent to which the buildings they seek to cover are underinsured. This invariably leads them to take action to prevent the detrimental effect of the Average Clause, while ensuring that they comply with the Fair Presentation provision of the Insurance Act in prudently representing values to their insurers.

We are in the business of providing specific information about insured risk. That enterprise encourages us to analyse (with AI) aggregated data to generate discussions about risk. This inspires us to explore. To collaborate. To debate.