Reduce your plant insurance premiums by 12.6% in year one alone
– as well as increasing your corporate, social and environmental responsibility.
Risk is an expert system that can enable you to quantify and qualify your current plant fire, gas release and explosive risk levels.
Post audit you will have a Risk Reduction Plan, with a quantified plant risk reduction value for each improvement.
Developed for BP Plc and Jupiter Insurance (BP’s own captive insurer) to build a fire, gas release & explosion Hazard Management Audit software solution.
BP & Jupiter had evaluated the software market prior to forming the working group, trying to find an existing piece of software that would enable process operators working in BP’s assets to perform a comprehensive fire, gas release & explosion hazard audit, without having to have been risk trained or had the necessary risk experience to perform the audit.
Their search failed to find an existing piece of software.
Our software development partner were asked to capture the working knowledge of risk experts creating the expert user system required, the first of its kind on the market.
Under the agreement to build the system, we were entitled to retain the intellectual property to the software and sell it to the market.
Working in partnership with our software development partner – IAMTech, have proceeded to further develop the software.
It (Risk) is now available for you to use to undertake fire, gas release & explosion hazard audits, enabling you to qualify and quantify fire and explosion risk of oil and gas industrial assets, both on and offshore.
Asset owners can use the findings to drive asset insurance premium reduction, by following a plan of recommendation improvements compiled by the audit, demonstrating improvement (fire and explosion risk reduction) over time to their underwriter(s).
Produce a demonstrable risk reduction plan for your Oil, Gas, Power or Chemical assets to drive your insurer to reduce your premiums.
Understand the cost of performing site safety improvements to effectively manage budget and prioritise improvements across a multi-asset portfolio.
Risk is web-based application, but it also works ‘offline’, pushing any data entered into the application into the cloud the next time the device is connected to the internet – this is particularly useful when working in internet-restricted zones or sites, such as offshore platforms.
Our ‘Observations’ feature allows the user to highlight issues directly to senior members of your team, ensuring full transparency and accountability.
If you work for an organisation that has multiple assets, you can see the locations via Google Maps. Our colour-coding performance indicator system instantly allows you to identify your best performing assets and those that are struggling to meet your improvement level.
Compare your assets anonymously against other assets in the system to see where you fit on a global standard.
CFB Risk Management HQ
Endeavour House, Stockton Road, Hartlepool, TS25 5TB
+44 (0) 1429 874085