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4. Health and safety incidents. H&S incidents are generally high frequency, with
some converting into compensable claims. RiskConsole enables energy
companies to:
a. Record incidents and related investigations using handheld devices.
b. Record and track safety recommendations.
c. Create automatic alerts and triggers for certain type of incidents/
recommendations.
d. Have a central repository with real-time data updates.
5. Policy management. Managing and tracking policies is vital to energy firms
because, as a rule, they have high asset values and high costs of insurance.
RiskConsole empowers risk managers to:
a. Access policy details with a link to the policy contract.
b. Manage their insurance tower and participation levels.
c. Track premium paid, to whom and for what coverage.
d. Track joint venture participation and their allocated cost of insurance.
e. Manage captives if used as a risk-financing vehicle.
f. Allocate premiums.
Energy Companies
HOW RISKCONSOLE CAN HELP
(CONTINUED FROM PAGE 3)
