Cut through complexity and control risks in the natural resources sector with risk engineering
Risk engineering turns data into actionable insights, helping natural resources companies make informed decisions to protect and grow their business.
Backed by data and industry experience, risk engineering uses sophisticated modelling to stress test your risk strategy under different scenarios, estimate loss values, identify opportunities to boost risk controls, and reduce the total cost of risk.
Our risk engineering approach
How we deliver value
Staying ahead of the curve demands one-step-beyond analytics and benchmarking. It also means keeping up with risk recommendations, and having all your risk insights available at your fingertips will be critical.
Focus on what’s important - By cutting through data overload and pulling data from multiple sources into one place
Identify and prioritize risk improvements, fast - To address loss estimates, insured values and risk assessment scores
Track key performance indicators - Through evidence and trend analysis to ensure risk management approaches are focused and delivering value
Keep track of the competition - By viewing industry losses and benchmarking against sector peers
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Major project lifecycle risk review
A structured assessment process adjusts with the changes in project risks through its lifecycle from design to operation.
Design stage: Supports technology selection, capacity/scale up and design standards review.
Pre-operational stage: Focuses on the preparedness of a project to move into full operation and eventually transfer to an operational insurance policy
Construction stage: Assesses detailed engineering changes that have been made to the original design intent, erection and commissioning activities.
Operational risk review assessments
Multi-year risk engineering programs that can be developed to build operational resilience supporting short- and longer-term risk management objectives.
Calibration of loss scenario quantification gives you clarity on the most likely and highest value loss estimates, informing risk transfer strategies.
Climate vulnerability assessments
Determine facility strengths and weaknesses from initial climate model outputs in both existing and augmented states.
Suggest facility adjustments to mitigate identified climate weaknesses.
Assessments of minor modifications through to major capex projects on their ESG credentials and potential carbon-emission mitigation protentional.
Engineering assessments fed back into climate models to enhance the model evaluations of potential stranded asset analysis and effectiveness of planned investments.
Insurance marketing surveys
Our property risk engineering team will create a factual, descriptive report to present your business operations to underwriters focusing on key strengths, positive features and protection systems whilst separately highlighting areas for improvement.
Contact a local risk engineer to put the cost of your existing and emerging risks under the spotlight.
