Are you a risk ‘Explorer’ or a risk ‘Farmer’?

Many of our clients are interested in what technology can offer them in terms of increased capacity, capability and market share.

In the risk management arena technology has always been a key aspect of defining or recreating ones place in the market, but the risks are significant and often increase organisational risk in managing the new technology.

Do you plan to be an risk explorer or a risk farmer? Do you push the technological opportunities or do you harness proven technologies at the risk of missing the commercial crest of opportunity?

The key here is defining your risk appetite and having a strategy to get you there. If you don’t you risk missing opportunity or having leveraged persons with influence float a good idea but it may not be in the best interests of the organisation at the time.

Small and nimble organisations are often best at managing opportunity and technology but can least afford the price when it goes wrong. Larger organisations can manage the risk but are often too cumbersome to maximise the opportunity.

This article below from Risk Management Magazine is a great example of proactive engagement with technology.

 

 

Ansvar to use drones in risk assessment

by CRI | 02 Aug 2016

Specialist insurer Ansvar Insurance has announced the addition of drones to their risk assessment toolkit and its acquisition of the operator’s certificate from the Civil Aviation Safety Authority (CASA) – a first in the insurance industry.

The specialist insurer said it has made significant investment to certify four risk advisers and offer nationwide coverage of this new level of service.

In a statement, Ansvar said that the use of drones in risk mitigation and assessment is the latest example of its progressive adoption of technology.

“By embracing innovation, Ansvar is in a unique position to remain the market leader in its specialty sectors, providing Ansvar’s team of risk advisors the most comprehensive tools available for risk assessment on the market today.”

Drone technology will enable Ansvar’s risk advisors to survey properties and reach previously inaccessible areas in a safe and cost-effective way.

“Investing in the use of drones is a natural consequence of being a risk-led organization that embraces the latest technology. Drones, along with other technological innovations such as thermographics, allow Ansvar to provide the most robust and comprehensive risk mitigation and assessment programs for our clients,” said Warren Hutcheon, Ansvar CEO.

“CASA certification and the development of an operating model that considers safety and privacy concerns has been a 12-month process, and we are very excited to be able to offer this service to our clients,” said Hutcheon.

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