Risk Engineering Services in Singapore

There are a limited number of risk engineering setups in Singapore and most of them are part of a general insurance company, providing bundled services to their existing policyholders. Conversion Risk Engineering, on the other hand, is a standalone independent company the provides unbundled and unbiased services to any insurance companies or brokers that need to understand their risks better or to use the risk assessment reports for risk management or marketing purposes. We have the knowledge and experience to serve your specific requirements.

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As you encounter challenges such as globalization, changing technology, evolving risk management approach and new business models, we can develop solutions tailored to mitigate your specific risks. Our team of risk engineers assists businesses in predicting and reducing expensive risks. Our risk engineers invest time in comprehending each company in order to align risk mitigation strategies with their business requirements. Assessing risk probability and impact is an essential component of our evaluations, following the methodology described in our Risk Engineering Guidelines.

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Our risk improvement recommendations consider:

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• Local and international codes and standards, such as Singapore codes of practices and NFPA codes

• Industry data analytics

• Lessons from Losses

• Recent test data

• Original Equipment Manufacturer requirements

• Industry best practice

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Our Risk Engineering Services in Singapore offer clients help in risk management through providing both short-term and long-term risk solutions to ensure the success of your business and property ownership. Our risk engineers utilize their advanced property conservation skills to discover possible loss causes and their effect on your profits. They have practical experience with different types of fire protection systems, providing clients with exceptional service.

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Our risk engineering services go beyond basic property protection to include:

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• Customized risk management programs

• Business Continuity Planning

• New construction / major project reviews

• Hydraulic analysis of fire protection systems

• Natural perils assessment

• Maintenance and protection of key plant and equipment

• Fire protection systems test verification

• Contractor control program

• Natural hazard analysis

• Self-assessment programs

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What is Risk Engineering?

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Risk Engineering is a discipline dedicated to the systematic identification, assessment and improvement (IRI) of insurance risks, aimed at minimizing the total cost of risk for an insurance company and its insured.

 

What does a risk engineer do?

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The roles of a risk engineer are:

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• Advise and support clients in the technical assessment of insurance risks

• Independently plan and execute customer visits in Southeast Asia to analyse property damage and business interruption risks, protective measures and documentation of relevant aspects in survey reports (onsite surveys)

• Evaluate external survey reports based on local and international standards (desktop reviews)

• Follow up on risk improvement recommendations

• Collaborate within clients' working groups and project

 

The required qualification and experience of a typical risk engineer are:

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• Professional degree in engineering, preferably with a focus on mechanical engineering, fire protection or loss prevention.

• Ten years of experience as an engineer in a manufacturing industry, preferably related to safety or loss prevention

• Professional experience being a Risk Engineer in the insurance industry

• In-depth expertise in one or more of the following areas: Insurance, claims handling, risk assessment, protective measures and protection concepts

• Strong ability to analyse and evaluate technical processes and their economic backgrounds

• Talent for developing holistic approaches and communicate abstract content to internal and external non-specialist audiences

• Ability to work collaboratively in a team with efficient task prioritization and self-organisation skills

• Good English verbal and written communication skills. Proficiency in other Asian languages is a plus

• Open to international business travel