After spending more than 12,000 hours in development starting in 2004, Factory Mutual Insurance Co., which does business as FM Global, completed its Web-based analytics tool, RiskMark, in 2009.
RiskMark is a fact-based property risk quality-benchmarking tool accessible to risk managers from their desktops. It allows risk managers to benchmark the risk quality of their location, define the basis to prioritize risk improvements and administer scenarios to maximize their limited risk improvement budgets.
In a single place, RiskMark archives FM Global’s risk findings of tens of thousands of clients worldwide and condenses them into a single score along with a summary of risk conditions.
Risk managers can assess their company’s risks through a series of scores on a scale of one to 100, where high scores reflect well-protected facilities. FM Global has shown that these scores correlate directly with loss expectancy and a company’s earnings stability.
Additionally, risk managers can run “what-if” scenarios to learn the level of risk to their property, such as fire, natural disasters, equipment malfunctions and people.
RiskMark has been available since May 2009.
