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RADD and RSL partner, delivering global digital risk assessment and risk management platform

Paul Mayles Founder and Technical Director of RADD Engineering Analytics and Consulting said “We provide fast turn-around account summary reviews for global commercial and industrial property accounts through the use of smart risk engineering and analytics. RADD needed a software platform that efficiently digitized client account information and to provide a customizable visualization and profile of their risks and exposures, whilst maintaining data security, flexibility and availability. With #RiskSolved, RADD is able to provide client’s real-time data aggregations across accounts or books of business with ease of updating as accounts change. Using #Risksolved our risk engineering analysts and engineers are able to process, analyse and summarise large volumes of risk engineering data into extremely decision-friendly and customisable reports from account level to detailed site survey. We provide significant data quality and efficiency improvements to our clients’ risk engineering and underwriting processes.

We spent several months reviewing potential #insurtech partners who could deliver services that met our needs. With RSL, we talked the same language with regards to driving efficiency and underwriting profitability. Their platform allows us to upload, analyse and aggregate multiple data sources such as geo-coding, value information, risk improvement recommendations and supply chain data. It is easy for our team of risk engineering analysts to use and we format for a client’s specific data needs with occupancy specific data sets and rating tools. Accessibility to this platform via the RADD app and on-line client portal are excellent.

RSL have a been a knowledgeable, flexible and pragmatic partner listening to our needs and being highly responsive. 

Debbie Baker Sales and Marketing Director of Risk Solved said “RADD is a great partner for Risk Solved. We have worked closely with their team over the last few months extending our core offering and enhancing the Artificial Intelligence capability.  This partnership extends our geographic footprint into the Asia Pacific region and demonstrates our capabilities to deliver in the global consultancy space”.

About RADD

RADD operations combine both risk engineering analytics for the global insurance and corporate market, as well as site based consulting in Asia and the Middle East. RADD Engineering Analytics delivers smart risk data analytics to Underwriters, Risk Engineering Managers, Brokers and Corporates on a fast turnaround basis for commercial and industrial property accounts. RADD Consulting provides location level risk analysis by experienced risk professionals.  

RADD uses its experience of the region to identify and quantify risks at industrial and commercial locations, mitigating project risks and assists in developing and mitigating loss prevention and risk management strategies.

About Risk Solved

Risk Solved was launched to the insurance market in 2016 to provide a global digital risk management platform. The RSL platform has inbuilt AI, helping our customers to improve their risk assessment and recommendations, delivering unique insights and profitability across schemes classes and full portfolios. Providing a true cross class platform, accessible from Phone, Tablet, Laptop or Desktop device. Our customers include a number of Tier 1 Insurers, MGAs, Brokers and Consultants providing services to UK and global markets.  For further information see www.risksolved.com or email marketing@risksolved.com.

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Risk Solved invests for Growth with Board restructure and recruiting Debbie Baker as Sales & Marketing Director

Jason Moseley, newly appointed Managing Director of Risk Solved said “We have invested heavily in re-engineering our Self-assessment and Survey modules over the last 18 months now is the time to invest in taking the product to market. Debbie has the both the pedigree and experience to help us achieve this with her many years of experience in the Insurtech sector and also joining at a time when we have successfully secured the long term commitment of a tier 1 insurer and consultancy practice at the end of 2018”

Debbie comments “Risk Solved’s digital risk management platform enables insurers brokers and MGAs to manage their exposure to policyholders’ transferred risks. Our customers have not only seen on average a 10% improvement on underwriting profitability, they are also gleaning unique data insights. As we all know, data is the new ‘oil’. I have been working with Jason and the team over the last couple of months and I am delighted to join the board.”

The appointment of Debbie follows a restructure of the team at Risk Solved with Chris Rhodes changing his role of non-exec director to become Chairman and Thomas Coles moving to become a non-executive director of Risk Solved.

Risk Solved was launched to the insurance market in 2016 to provide a global digital risk management platform enabling carriers to improve their portfolio profitability. Our customers include a number of Tier 1 insurers, MGAs, Brokers and Consultants providing services to UK and global markets.  For more information and insight go to www.risksolved.com or email marketing@risksolved.com.

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Risk Solved Hosting Architecture Upgrade

As part of our continued investment in technology and to support our core product roadmap strategy Risk Solved has upgraded our core product hosting platform to the latest cloud based architecture. This investment by Risk Solved demonstrates to our customers the desire to ensure that service availability, replication and disaster recovery facilities are in line with customer expectations.

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QBE see up to 20% improvement in loss ratio using our software

Managing data in a risky world

Effective risk management is beneficial to both the insured and the insurer; it makes the workplace safer and reduces downtime which in turn reduces claims and can drive down payouts, premiums and paperwork. It is also a key facet of compliance, and as such is central to insurers’ businesses.

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Expense ratio halved

Innovative Analytics

A leading UK insurer discovered some exceptional insights and immediate savings that could be made after trialling Risk Solved for its motor fleet book.

In common with most of the market the commercial motor book in our client was underperforming causing them to make it a focus for underwriting improvements.  After a procurement process for a risk management solution for the whole business including personal lines, SME through to corporate, Risk Solved was selected for a proof of concept on the corporate motor fleet book.

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QBE on RM as an enabler

Jeff Carr, Director of Client Service at QBE European Operations, was quoted last week in Post arguing that risk management is increasingly seen as a business enabler.  It’s great to see users of Risk Solved getting good value in all sorts of ways.

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