Risk Management is a process which involves the identification, analysis, evaluation and control of risks that are inherent in any endeavor. The process assists organisations to acheive corporate objectives with minimized risks.
At IGI, we maintain a culture of understanding individual client's particular needs by assessing the risks which each client is exposed to and advise accordingly.
To strengthen our efforts in this regard, IGI has a Risk Management Bureau which is oriented to provide a range of Risk Management Services to the benefit of the insurance companies, insurance brokers as well as the insuring public (industrial, energy, government and other sectors of the economy).
Our primary goal is to add value to services rendered by the insurance industry by ensuring maintenance of high quality risks which constitute the underwriting profile of the various operators within the industry. We also hope to impact positively on the end-users by creating a consciousness on the need for efficient and effective management of inherent operational risks as an impetus for sustained profitability.
Our services are designed to suit general and specific needs of any particular client and are aimed at improving the quality of risks generated within the insurance, industrial, energy, government and other sectors of the economy.
The Bureau has undertaken loss control assessment of high-tech risks such as Ajaokuta Steel Complex, Addax Petroleum, Petrolog/Globe drilling limited, United Geophysical, Federal Radio Corporation of Nigeria and Voice of Nigeria to mention a few.
Services offered by the Risk Management Bureau of IGI include:
- Industrial Risk Management Services including Petroleum and Petrochemical Risks Evaluation Services
- Property Damage and Business Interruption Risk Evaluation Services
- Liability Risk Evaluation Services
- Safety Management Services
- Loss Prevention/Control Services
- Engineering Risk Management Services
- Electrical Equipment/Computer All Risks Evaluation
- Plant All Risks Evaluation
- Machinery Breakdown Risks Evaluation
- Condition Assessment/Evaluation Services
COLLABORATION WITH INTERNATIONAL ORGANISATIONS
We have existing collaboration with the Risk Engineering and Loss Control Services departments and/or subsidiaries of reputable foreign underwriters and reinsurers which include XL Winterthur International Re, AON Risk Management, Risk Engineering Services of Zurich Insurance Company of Netherlands. Recognition is also given to our collaborative representative services by ACE Insurance N.V. of Netherlands.
Our collaborative services have provided a platform for us to render representative Risk Management services for the benefit of local subsidaries of some international industrial concerns.