Nothing lasts forever, including your company's critical equipment. When complex equipment breaks down it can cost millions of dollars and result in months of shutdown. Fortunately, risk doesn't stand a chance when you see it coming. Whether you are responsible for an entire enterprise, a critical facility or vital equipment, FM Global's proven loss prevention expertise and suite of analytics capabilities help you build resilience into your organization. We harness the power of millions of data points from engineering visits and combine it with loss history to help you prioritize property risk and allocate risk improvement capital. This changes everything.
The following predictive analytics tools help you understand your risk and choose specific actions to lower potential losses:
1. RiskMark® benchmarks the risk quality of your locations.
2. Locations Predisposed zeroes in on your most susceptible sites so you can prioritize where to best invest your risk improvement capital. Sites identified through Locations Predisposed are 15 times more likely to experience a significant loss.
3. Our loss data and analytics show that recommendations with a higher Relative Likelihood are twice as likely to be associated with a loss.
4. Equipment Factors assesses your equipment so you can identify equipment most at risk of breakdown. Breakdown is more likely and severe with multiple unsatisfactory factors. We evaluate seven key equipment factors, which help us identify when the likelihood of loss increases by annually measuring these factors against losses:
- Contingency planning
- Safety devices
- Operating conditions
5. Equipment Predisposed is a benchmarking tool that identifies specific equipment at most risk of breakdown, based on data analytics equipment modeling and the equipment factors listed above.
WHY FM GLOBAL?
Our predictive analytics enable us to determine not only the severity of the risk, but also where loss is most likely to occur—with accuracy never before possible.
1. You can identify potential problems before they occur
We utilize 700 data points from 100,000 location visits each year
2. Upfront insights to aid long-term resiliency
We benchmark the risk quality of your locations:
Identify locations more likely to suffer a loss.
Identify exposures more likely to be associated with a loss.
Identify equipment most likely to break down.
3. FM Global helps remove the risk
When you know which equipment is most likely to fail–and why–you can prioritize risk improvements.
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