How well can you describe the use conditions your product will experience?
How well do you need to know the use conditions?
For some situations, the environment for your product is assessable, others are not. For some situations, we guess the range of expected stresses, others we measure. Continue reading
In 2021, risk team implemented a quantitative risk-based approach to insurance renewals which resulted in reducing the cost of insurance by 60% and improving the quality of coverage across all insurance lines. This approach allowed us to save, or rather pay a fair price for insurance across the globe. Key to success was not to rely on market “best practices”, but on testing various hypotheses in the market and relying on data. Continue reading
Organisational cultures can either enable or inhibit effective risk management through either constructive or defensive behavioural norms respectively.
When there is constructive organisational culture, people want to, rather than have to, manage risks and do good risk management. And when there is a defensive organisational culture, people avoid doing good risk management and only do risk management when they have to or are being forced, either by management or regulators, merely as a tick-the-box compliance exercise. Continue reading
Safety and sustainability are the major considerations within the growing electric vehicle industry, there is lots of excitement and lots of challenges in the fast-moving electric vehicle industry and both descriptions quickly work their way into the conversation. Continue reading
All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.
Arthur Schopenhauer – Philosopher
I’ve seen the Future Of Work. And, I don’t like it. Why? In Portland Oregon, a retail store sells kombucha, a slightly alcoholic green or black tea. Great location. Great storefront. Sure money-maker! Continue reading