ACE creates Global Property Risk Engineering unit

The new unit adds to the amount of risk data on offer from ACE following the recent launch of its Eureka web-based benchmarking and risk information system. The Global Property Risk Engineering practice aims to provide seamless and consistent risk management engineering services to ACE clients worldwide. ACE announced the formation of the unit this week. It said the move recognises that risk managers need access to uniform services and comprehensive real-time risk control data as their organisations increasingly operate on the global stage.hideThe new global practice is led by Raimund Navakas, who has been appointed Senior Vice President, Global Property Risk Engineering. He is responsible for the integration of ACE's regional risk engineering operations around the world, using data analytics to drive results and ensure that the insurer offers 'best-in-class' solutions to risk managers, regardless of location. Mr Navakas will relocate from Sydney, Australia, to New York City and will report jointly to Paul O'Neill, Chief Underwriting Officer, North America Property & Specialty Lines, and Jarrod Hill, Executive Vice President, Property, ACE Overseas General, based in London. ACE believes that the appointment of Mr Navakas and the formation of the new unit will help ensure it delivers the appropriate engineering resources to clients. The insurer said that the move supports the launch of its benchmarking system Eureka. ACE said Eureka allows it to data-mine information on a more granular level and provide clients with real-time risk information in order to better assist them in their decision-making process. Eureka integrates underwriting and claims information into a single platform and captures information from ACE's clients. Clients can compare and rate themselves against their peers in an entire industry segment, or against their specific operation or any other grouping. They will also be informed of the strategies adopted by different sites in addressing similar risks in a country, region or around the world. Eureka can also help clients to understand and avoid the potential risks associated with establishing new sites or acquiring new facilities, said ACE. Further to its initial launch in the Asia Pacific region, Eureka is currently available in Europe, Ireland, the US and Canada. It will soon be launched in Latin America. "The launch of Eureka has made the integration of ACE's underwriting and risk engineering systems a reality. Not only has it enhanced the work efficiency of our risk engineers, it has significantly augmented our value proposition to our clients through its enhanced benchmarking capability, onsite views of risk surveys and faster turnaround time for report completion. With our commitment to deliver excellent service to our customers, further enhancements to Eureka are in the pipeline to enable our clients to access their reports and interact with ACE's risk engineers online around the world," said Mr Navakas.

ACE creates Global Property Risk Engineering unit

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