XL Group’s kidnap & ransom underwriting team has announced the launch of its new Global Security Insight (GSI) platform.
Created and frequently updated by Salamanca Group, the merchant banking and operational risk management business, the global platform provides XL Group’s clients with detailed information about security risks in over 200 territories. Access is included as part of XL Group’s pre-incident response service and provides clients and their staff with vital information for those traveling or conducting business throughout the world.
The platform has been made as intuitive as possible with the aid of a heat map. Each country is ranked by a color code, signifying its level of risk – ranging from green (insignificant risk) to red (extreme risk). The map can also be broken down by type of threat. Clicking on different locations brings up a dashboard which rates specific risks – kidnap & ransom, extortion, wrongful detention and political evacuation. Individual country reports are also available.
A second map detailing war, terrorism and political violence risks is also included, designed to assess threats that might be brought about by current political circumstances.
Additionally clients can access regular newsletters featuring news on current political trends which might be relevant, as well as detailed advice on safe travel in potentially high threat areas.
Commenting on the platform, Charlie Matheson, senior underwriter – crisis management, said: “I am delighted to see this new platform added as an additional benefit to our coverage. Our intelligence experts at Salamanca Group are acutely aware of the risks relevant to our clients, and it’s great to see that information presented in such an intuitive way.”
Matheson continued: “We think this new platform, giving critical, on-demand global security analysis, further compliments our offering to our clients. This offering includes the services of retained world class response consultants, Terra Firma Risk Management LLP, who provide pre-incident, crisis response and post-incident support to our clients.”
He said XL’s crisis management underwriting team is building a “holistic service offering which helps organizations and individuals to understand the risks they face.”
Heyrick Bond Gunning, managing director, at Salamanca Group, added: “Our business intelligence and investigations team has been supporting XL Group since 2013, focusing on threat mapping and country risk reporting services. The breadth and detail of content on the Global Security Insight platform is outstanding and challenges other tools in the market.”
Founded in 2002, Salamanca Group has become an integral part of XL Group’s crisis management insurance solutions, providing business intelligence and crisis management services to the company’s team of expert underwriters.
Source: XL Group
Topics Commercial Lines Business Insurance New Markets AXA XL
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