The better the risk situation of clients can be assessed, the more specific the GrECo insurance specialists can make individual and tailored insurance concepts. The key to this is risk engineering.

Risk engineering depicts risk management professionally and creates an essential basis for the tailored servicing of our clients. In order to fulfil this key role, in 2012 GrECo founded its own successful subsidiary in GrECo Risk Engineering GmbH, GREG for short. The tasks of GREG are divided into two areas:

  • underwriting support and
  • risk management and engineering services.

“We consider ourselves as a service company for our clients and for the GrECo Group. This enables us to make a major contribution to providing all-around service as the leading Austrian risk and insurance consultant. As a result of the large number of different projects and a targeted training and further education programme, my team is continuously developing both professionally and personally. This is also the basis for expanding and professionalising services. The main objective is to promote risk awareness and improve the risk quality of our clients,” explains Johannes Vogl, General Manager of GREG.

Underwriting support

Underwriting support includes the actuarial risk evaluation of existing GrECo clients and the provision of risk information for sales projects. The same applies there: the better known the risk situation is, the better the GrECo insurance specialists can make individual and tailored coverage concepts. The focus here is on the insurance segments of business interruption, liability and technical insurance policies.

The structured evaluation and transparent presentation of the actuarial risk is carried out using the self-developed risk assessment and monitoring tool (see article “The footprint in the insurance market”). There is also an increased focus in GREG risk analyses on newer insurance lines such as cyber or reputation. The priority here is to determine possible loss potentials as a basis for defining the scope of cover.

Risk management & engineering services

Companies will be supported directly with risk management and engineering services. The main objectives here are loss prevention, continuous risk improvement and crisis and business continuity management. However, if a loss should still occur, structured claims management and post-loss analyses will be offered so that the “lessons learned” can also be identified and effectively implemented.

Risk engineering services include preparing or verifying (“second opinion”) safety concepts (fire protection, physical security, natural disaster protection), risk due diligence checks of new buildings and M&A projects, as well as added value analyses along the entire supply chain.

In terms of risk management, GREG helps its clients to establish and develop management systems for operational risks and enterprise risk management systems. Special topics such as cyber and crime or system and machine security round off the extensive range of services; this also involves cooperating with a selected partner network.

About GrECo Risk Engineering

GREG has grown continuously since it was founded. The core team in Austria currently consists of five highly-qualified engineers. They are supported by an extended team from Austria and the other GrECo countries. The cooperation between the different specialists allows clients to be offered an extensive range of services. The team is characterised by its great flexibility and creativity. It understands the clients’ requirements and implements them in the form of tailored services.

GREG focuses on uniform standards and quality. A regular exchange of ideas is a key success factor here. Close cooperation with the entire international insurance market makes it possible to recognise the latest trends at an early stage and to prepare clients for them.

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Johannes Vogl

General Manager GrECo Risk Engineering

T +43 664 883 805 04