Ferma Blog 7: How LRQA can help with risk engineering
29th September 2011
Ferma Blog 7: How LRQA can help with risk engineering
Björn Müller, Managing Director of Lloyd’s Register Quality Assurance Germany & Switzerland
Interviewer: How would you define risk engineering and how would this apply to the services that LRQA offers?
Björn Müller: Risk engineering from the perspective of an industrial company means to have a clear risk profile for the respective company. Risk engineering from the perspective of the insurance industry means to have at least as detailed as possible understanding of the risk profile in terms of underwriting for the insurance industry. So the insurance industry for the time does have their own engineers available to do risk engineering in order to strengthen their underwriting because risk is getting more and more complex and needs an engineering part before a risk can be transferred or mitigated.
Therefore the services of LRQA could really help because a certification body like LRQA with its Business Assurance approach has a real deep insight into the operational processes which are the source or the main source of risks occurring in a company. As a result, LRQA can really offer a very deeper insight for all related parties in terms of the industry itself and for the insurance industry.