Talanx : Centralised management of global risks

11 April 2017
Commentary by Dr Stefan Sigulla, Member of the Board of Management of HDI Global SE, on the international risk assessment

Risk management is a challenging task. The enormous complexity of today's global risks, the interlinking of operational processes across national borders and continents and also the progressive digitalisation of the world economy are confronting risk managers with new challenges. As a result, entrepreneurial actions are becoming more difficult: risk managers, brokers, purchasers of insurance and risk carriers must first identify risks very carefully in order to be able subsequently to analyse, evaluate and insure them.

Preventive safeguards and risk protection against cyber attacks, natural disasters and large fires rank very high on the agenda for companies. Of late these concerns have been joined by a more pressing need to take out coverage against political risks and the threat of terrorism.

The analysis and transfer of risks are at the very heart of our business. This is especially true of highly complex risks. Our expertise enables us to give our customers professional support at all times: starting with risk management and extending to financial risk protection and of course in the event of a claim.

Our core goal is to minimise risks for our customers and avoid losses or damage. This can only be achieved through constant optimisation of risk management in conjunction with the implementation of technical safety measures. We have concentrated these tasks in the hands of HDI Risk Consulting, a subsidiary of HDI Global SE. Some 180 risk consultants, engineers, scientists, chemists and other specialists participate in a risk dialogue worldwide with our customers for this purpose. This service can bring about a lasting improvement in a company's risk profile - while at the same time highlighting our performance capability as a partner of industry.

The differing risk profiles of companies necessitate individual risk protection. Our customers therefore receive insurance terms and conditions that are regularly updated and modernised.

Large corporations and mid-sized businesses have one thing above all in common: growth in foreign markets, whether through exports or in the form of new production facilities. Industry needs insurance protection for this growth in the form of international programmes, or more specifically a globally positioned insurer who is able to offer and manage international insurance programmes. Not only can the risk of gaps in coverage thereby be minimised; it is also ensured that the programme is managed centrally from the home location and can be controlled by the parent company. Particularly with an eye to increasingly exacting compliance requirements, this is of considerable relevance to our customers.

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