Risk engineering growing in popularity

Interest in risk engineering is growing in popularity among corporate risk managers and take-up could be seen in other lines of business, according to Zurich EMEA risk engineering head Jean-Pierre Krause.

Krause said that while interest is particularly ripe within traditional lines of business, corporate risk managers are now beginning to look more towards this type of risk analysis when assessing threats in other lines.

Krause said: “Interest [in risk engineering] is always strong in traditional lines especially [around risks such as] fire … but interest is now growing especially around risks such as natural hazards.”

Looking ahead to how risk engineering could evolve to adapt to changes in the risk landscape, he says risk managers can expect the use of more tools: “I think we can make much more use of tools so that employees can manage risks and risks can become much more visible.

“Telematics is a good example where drivers get immediate feedback … and for fleet risk management, this has been a great innovation. I think [innovation] will also happen in manufacturing because we are much more supported by tools and information …”