Ferma Blog 2: Linking Risk Managers, Brokers & Insurance to Drive Cost Savings & Mitigate Risks
22nd September 2011
Ferma Blog 2: Linking Risk Managers, Brokers & Insurance to Drive Cost Savings & Mitigate Risks
Björn Müller, Managing Director of Lloyd’s Register Quality Assurance Germany & Switzerland
Interviewer: There appears to be two distinct markets namely risk managers and their brokers and insurance companies. Do you believe there is an opportunity for LRQA to act as the link between these two parties to drive cost savings and mitigate potential risks and if so how?
Björn Müller: Yes absolutely, I believe that there is an opportunity for LRQA to link these two businesses. To support my view, I would like to refer to a recent article in the Financial Times Germany dating from September 12th this year, featuring Munich Re – the world’s biggest reinsurance company. The article talks about how Munich Re wants to understand the clients’ supply chains.
Insurers are increasingly demanding more data from the industry, and the industry is partly struggling to provide this information. LRQA as an assessment body has – in many respects – a deeper insight into the clients’ operational processes which are linked to the supply chain than any other external party has. Therefore, we could help to manage these demands for information from the insurers towards the industry. LRQA believes that there is a huge opportunity to facilitate this discussion and benefit all parties involved.