Selecting appropriate insurance cover in a complex operating environment can be challenging. Businesses are increasingly turning to risk consultancy services to help create a safer, more efficient, and resilient operating model.
Services, like those offered by RSA Risk Consulting, identify and mitigate potential risks faced by a wide spectrum of businesses. This proactive approach helps firms provide a reliable service, which can be crucial for maintaining operational continuity and customer satisfaction.
If you are reviewing your risk consultancy options the following provides an overview of some of the risk engineering solutions available in the market today:
Comprehensive risk assessment
Thorough risk assessments identifying potential hazards and vulnerabilities are typical in a risk engineering programme. They involve detailed site inspections, data analysis, and risk profiling to understand the specific risks faced.
Tailored risk mitigation strategies
Based on the risk assessment findings, risk engineers can develop customised risk mitigation strategies.
Enhanced safety and compliance
Risk consultancy can help businesses adhere to safety regulations and industry standards, reducing the risk of accidents and legal issues.
Crisis management and emergency preparedness
We help businesses to develop robust crisis management and emergency response plans.
Employee training and development
Risk engineering can also provide training programmes for employees on risk management practices and emergency procedures. Well-trained employees are more capable of preventing and responding to incidents, helping to provide a safer and more resilient workplace.
Helping businesses stay safe and resilient
Effective risk management demonstrates to underwriters that the client is serious about building resilience in their business, by showing willingness to protect people and assets.
Continuous monitoring and improvement
Risk consultancy services typically include ongoing monitoring and regular reviews of risk management practices. This ensures that risk mitigation strategies remain effective and evolve with changing circumstances, fostering a culture of continuous improvement.
Loss prevention programmes
Risk engineers can design and implement loss prevention programs aimed at reducing the frequency and severity of losses.
Enhanced business reputation
A business that effectively manages its risks and demonstrates a commitment to safety and reliability gains a positive reputation.
Strategic risk consulting
Risk engineering teams can offer a strategic risk consulting service that aligns risk management strategies with overall business objectives. This holistic approach ensures that risk management is integrated into the business’s strategic planning and decision-making processes.
These are just some of the features available through a progressive risk consulting service. One size doesn’t fit all however. It is therefore critical to select a service which creates a bespoke solution for the client’s needs.
Andy Jones, Risk Consulting Director at RSA, picks up the story and explains ‘why choose us?’ when it comes to risk consultancy
We help businesses understand the risks they face, and what they can do to mitigate those risks. Together, we help them understand their individual risks, then plan, implement and monitor effective risk management strategies. Everything we do is designed to safeguard people, assets, and reputations – helping businesses thrive for the long term.
We tailor our support to match our client’s business needs, depending on their size and scale. This could mean a quick phone call from one of our specialists, or a dedicated team to work on-site. We aim to give our client’s the support they need, making risk management cost-effective and simple.
We bring an expert understanding of the risks to the client’s sector and how they apply to their business. We show how these risks could evolve over time and how they compare to their peers.
Risk consultancy is always a collaboration – we work with our clients, bringing specialist expertise to complement in-house skills. This provides a single view of the operations that gives full visibility and control. The solutions created are grounded in reality.
They offer realistic and pragmatic solutions that are in tune with the needs and direction of the client’s business – taking into account their current situation, future plans, risk management culture and budget.
Our team includes expertise from a huge range of backgrounds, from chartered engineers to business continuity specialists. It means we can add to the expertise of our client’s team – creating strong partnerships that last. Working in partnership we can help businesses shape and deliver a highly effective risk management strategy.
Please reach out if you would like to find out more.
This article forms part of a series covering the latest views and insights from RSA’s Risk Consultancy team. Find out more about our Risk Consulting offering.
