R isk Management Indonesia was founded in 1985 as a wholly-owned subsidiary of IBS Group to develop and deliver a broad range of risk management services for our diversified customer base; a dedicated and specialist service that was not previously available in Indonesia.
Risk Management, as a discipline, is concerned with the application of multifaceted techniques for the identification, assessment, control and finance of risk associated with a company’s operations. A company’s risk profile will normally include physical, financial, legal and operational risks, which may or may not be fully transferable. The Risk Management program must be practically tailored to work efficiently within the company’s commercial realities.
IBS Risk Management Services offers a broad range of experience and expertise in this area and works closely with the IBS Risk Services team to interface comprehensive insurance protection around our clients’ risk management programs.
The risk management process implies a formal system for :
- The identification of major threats – Risk Analysis
- The measurement of identified threats by quantifying their potential severity and probability of recurrence or relative frequency – Risk Assessment
- The economic management of these threats through a tailored risk mitigation strategy. Techniques employed often do not require capital expenditure and may include elimination of dangerous work or production practices, socialization of loss prevention principles, targeted training, introduction of additional fire fighting and safety measures and improved housekeeping and inspection procedures – Risk Control
- The cost-effective transfer of risk via insurance solutions or other financial vehicles or instruments and the financing or allocation of reserves for retained risk – Risk Finance
- Ongoing maintenance of the strategies, principles, practices and financial protection developed to counter identified threats to the business. – Risk Management
This disciplined and strategic approach to risk management enables IBS Group to provide advice on practical risk avoidance measures that can be introduced or adapted to enhance the safety and reliability of operation for our clients’ business whilst maximizing risk reduction and production efficiencies.
IBS Risk Management Services Group employs a team of engineers who are qualified in the disciplines of mechanical and chemical engineering working closely with IBS Risk Services personnel conducting comprehensive site risk surveys to ensure that an accurate risk profile of our clients’ business and exposures are communicated directly to the insurance market. This facilitates a more practical approach by insurers and enables our service teams to obtain the most competitive rating of the risk available from the market.