New risk management tool launched in Australia

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An IT company has released a risk exposure management product which can be used to offer you a better understanding of the level of risk your business faces.

NIIT Technologies has launched EXACT Advantage, a risk exposure management product already in use by global insurance and reinsurance companies across Europe, for the APAC and ANZ market.

The firm claimed EXACT Advantage allows underwriters access to relevant and accurate information to assess exposures pre and post contract bind. It brings together a risk aggregation engine and a global mapping interface utilising the latest Geographical Enterprise Systems (GIS) technology to assess and monitor risk exposure across multiple lines such as energy (onshore and offshore) and property.

Ian Forwood, sales director of NIIT Technologies explained that the tool could allow businesses to conduct a risk analysis to help a client better understand their level of risk.

"For example, if a large fast food chain wants to insure its properties Australia wide, a broker could help them to immediately identify which of the properties or locations are most at risk of fire or flood," he said.

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