What if you could see how specific risk improvement actions affect your risk profile?
Zurich has developed a mobile Risk Grading app – ‘What if?’ - that shows complex risk contexts in an easy to view and understand format.
In an interactive dashboard it illustrates key risk factors and allows you to see how, by implementing different risk improvement actions, you can move this grade.
The app includes ‘what if’ scenarios which show the impacts of different improvements and provide an indication of which areas to target. The app also provides access to risk insights and best practice advice to make those movements modelled on the app a reality.
The idea to develop the app came from Grant Jensen, Chief Risk Officer for Asia Pacific and was developed for use right across the Risk Engineering network with all our customers. Grant said: “Customers often ask our Risk Engineers what impact our advice has on their overall risk quality. This got me thinking that a ‘what if’ app would be an interesting and engaging way for our customers to see the impact and help them tailor their risk management budget for the best return”.
The Risk Grading app ‘What if?’ won the coveted Business Insurance Innovation Award at the 2014 Business Insurance Risk Management Summit in New York.
James D’Errico, Risk Engineering, Zurich North America, accepting the award from Gavin Souter, Business Insurance Editor
Zurich is committed to helping customers understand and protect themselves from risks. As John Valjak, National Risk Engineering Manager, Australia, puts it: “We strive to provide insights into how our customers can control their cost of risk. That is precisely what this app is designed to do. Getting the innovation award for our development is a great recognition for our approach.”
Zurich Risk Engineers are already sharing the Risk Grading app ‘What if?’ with customers. It helps them understand how we grade risk in our assessments. Says John: “The app changes the dynamic of the relationship. The visiting risk engineer immediately becomes a partner of the customer during the review process by offering on-the-spot insights into opportunities to stabilise cost of risk over time.”
The ‘What if?’ Risk Grading Tool is available as a free download in the Apple App Store and is suitable for iPhone and iPad. Simply search for ‘Zurich risk’.