quantitative risk assessment

Quantitative Product Risk Analysis.

This service is essentially a quantitative risk assessment typically employed for asset insurance as applied to Products through all stages of their life-cycle i.e. from cradle-to-grave. The analysis includes a formal, documented review with representatives of The Company to identify stages of the life-cycle of the product, the potential for loss or harm, the quantified valuation of that loss and an estimate of the likelihood of that loss occurring. With the nominated representative of The Company the adequacy of existing mitigation measures will be reviewed and, if required, improvement actions will be developed.

The output of this analysis can be used in a number of ways including:

  1. Annual assurance processes within the business;
  2. Due diligence during acquisition and divestment;
  3. Existing Product Stewardship continual improvement processes;
  4. Product liability insurance premiums e.g. demonstrating adequacy of existing risk management measures and negotiating reduced premiums.