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Published on: Allgemein

Optimal insurance needs Focus on the Future

Risk-expert Stephan Dorner as a guest speaker at the Universität der Bundeswehr München. He stipulates for a deeper, more dynamic and future-oriented risk assessment of losses in industry and construction.

Recently, the Institute for Project Management and Construction at the Universität der Bundeswehr München invited well-known experts from in the fields of project organization, construction contract management, functional safety, process management, fire protection, and cost and risk management. Also, there was Stephan Dorner, Managing Consultant risk on mind ® GmbH, who brought the main issues of property insurance to the point and showed why professional insurance engineering always pays off.

Every insurance is unique (one – of – a kind)
Precondition for the conclusion of an insurance contract is the correct declaration or assessment of circumstances and risks. Only then, insured risk is in adequate correlation to payed premium. “If a policyholder fails to notify - even if there is a change in risk - damage is not covered. It must be known that the indemnity is always bounded to financial loss,” Stephan Dorner pointed out.

What we all know from life and health insurance is done here on a grand scale: A doctor assesses a person‘s health. Depending on this, he is classified in a risk class and pays a higher or lower premium. And: Many things are often excluded. For example, if an athlete already has an injured knee, further claims are not covered. “Every insurance contract is a unique product. Every little clause has a special meaning,” emphasizes the risk-expert. Deductibles or maximum limits are examples of it.

Focus on the future instead of a “full comprehensive cover mentality”
“Risk assessments are often too superficial and lag behind because analysis and data are historically oriented. I see too much interest in protection, a downright full comprehensive cover mentality‘. You cannot insure yourself against everything, but you have to be optimally insured against the top-risks, if something really enormous happens,” says Stephan Dorner. He therefore pleaded more dynamic risk-hedging and assessment: it is about naming the risks, assessing them, determining top risks, managing them in a tailor-made manner and regularly monitoring them. „Risk management is not a single-time activity and risk management has to pay off,“ he emphasized.

“Successful insurance engineering is oriented to the future. These questions are important: What damage can be expected in the coming year, in 100 years? How effective are protective measures? How likely are they to fail?” Stephan Dorner suggests. He sees great potential for a more specific risk assessment of the companies in accurate regional data (e.g. including natural catastrophe or distances to rescue forces), operating mode and size, process chains etc., as well as simulations and current research to reduce the premium amount and at the same time protect against losses caused by fire, cyber and natural catastrophes, including business interruptions, to keep them up to date and to optimize them.

Conclusion:
The essentials for a safe future are realistic risk awareness, the certainty that risk management is an ongoing process, and the design of control measures for the top risks.

To the point:

The Universität der Bundeswehr München

  • was founded in 1973.
  • It is one of two universities in the Bundeswehr whose aim is to provide officers and officers cadets with academic training.
  • Around 3,500 students are currently registered - including 575 women, around 30 international officers and almost 290 civilian students.

Stephan Dorner

  • is the expert when it comes to insurance engineering for industry and construction.
  • He is an insider thanks to his industry experience and, as an external assessor, can neutralize risks,
    assess them and find tailor-made control measures.
  • His motto: “Risk management has to pay off.” The risk potential is therefore minimized, reduced, removed or passed on where it is most effective,
    and the budget is optimally used on the right place.