GE Brings More Intelligent Risk Management to Market; MyAnalysis Facilitates Effective, Speedy Risk Management Decision-Making.
Risk Insurance Management Society Conference
Booth No. 1044
NEW YORK--(BUSINESS WIRE)--April 14, 2002
GE Global Asset Protection Services is making enterprise-wide risk management possible, allowing risk managers to make strategic business decisions with greater effectiveness and speed.
GE Global Asset Protection Services is introducing substantial enhancements to MyAnalysis at the Risk Insurance Management Society (RIMS) conference in New Orleans April 14-18. The new enhancements include "Location SnapShots," graphical loss estimates, and data export functionality.
The MyAnalysis suite of online graphical analytical tools enables risk managers to "roll up" and aggregate loss prevention data, providing an enterprise-wide view of risk as well as access to location-by-location details.
"In this tough insurance environment, it's more important than ever for our customers to prove they are a good risk," said Loren Douglass, President of GE Global Asset Protection Services. "Our customers need comprehensive, timely data to effectively market their risk, as well as manage their exposures on a daily basis. MyAnalysis is the tool to meet these needs perfectly."
Through gegapservices.com, risk managers have constant 24-7 access to loss prevention survey reports, risk summary data, and facility CAD diagrams. MyAnalysis turns this critical customer data into business intelligence, generating graphical reports, including benchmarking, recommendation summaries, and management program evaluations.
MyAnalysis has been enhanced so risk managers can manage critical property risk information in a more sophisticated manner. New loss estimate reports provide graphical and numeric summaries of a customer's Maximum Foreseeable Loss (MFL MFL Minimum Flows and Levels (ground water)
MFL Modern Foreign Language
MFL Magnetic Flux Leakage
MFL Medium Flood (stage lighting)
MFL Manitoba Federation of Labour ), Probable Maximum Loss Probable Maximum Loss (PML)
The anticipated value of the largest loss that could result from the destruction and the loss of use of property, given the normal functioning of protective features (firewalls, sprinklers, and a responsive fire department, among others, in the (PML PML - Parallel ML.
["Synchronous Operations as First-Class Values", J.H. Reppy <email@example.com>, Proc SIGPLAN 88 Conf Prog Lang Design and Impl, June 1988, pp. 250-259]. ), and Normal Loss Expectancy (NLE (NonLinear video Editing, NonLinear video Editor) See nonlinear video editing. ).
The "Location Snapshot" is a detailed report, covering an entire facility and tying together outstanding recommendations, values, loss estimates, construction, occupancy, interdependency and exposure information, all depicted on a single screen. Risk managers can view aggregate data of program ratings, for example, and then drill down to the outstanding recommendations and learn how to correct their deficiencies.
Douglass continued: "MyAnalysis puts more information at a customer's fingertips "Fingertips" is a 1963 number-one hit single recorded live by "Little" Stevie Wonder for Motown's Tamla label. Wonder's first hit single, "Fingertips" was the first live, non-studio recording to reach number-one on the Billboard Pop Singles chart in the United States. , provides the tools with which to turn that information into actionable analysis, and helps them prioritize improvements and really get a handle on their risk."
GE Global Asset Protection Services provides business continuity, loss prevention, and corporate asset management solutions to large industrial, manufacturing, services, healthcare, and utility companies. GE Global Asset Protection Services, headquartered in New York City New York City: see New York, city.
New York City
City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , is a member of GE Commercial Insurance. More information on GE Global Asset Protection Services is available at www.gegapservices.com.
GE Commercial Insurance is one of the operating units of GE Employers Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. Corporation. GE ERC (database) ERC - An extended entity-relationship model. is the world's fourth-largest reinsurer re·in·sure
tr.v. re·in·sured, re·in·sur·ing, re·in·sures
To insure again, especially by transferring all or part of the risk in a contract to a new contract with another insurance company. and a premier global provider of risk solutions. More information on ERC is available at www.ercgroup.com.
GE (NYSE NYSE
See: New York Stock Exchange :GE) is a diversified technology, services and manufacturing company with a commitment to achieving customer success. GE operates in more than 100 countries and employs approximately 310,000 people worldwide.
For more information or to schedule a demonstration at RIMS Booth No. 1044, contact:
Tom Mentzer, 816/512-9408, firstname.lastname@example.org
John Novaria, 816/512-9166, email@example.com
Dean Davison, 913/676-5147, Dean.Davison@geercgroup.com