Maximize the value of safety in various industries
Fubon Insurance provides customized technical services based on the actual needs of customers, because the knowledge of and demands for risk management vary significantly between customers from disparate industries and with different industrial scales. Bringing value to customers is exactly what Fubon Insurance pursues in respect of “Loss Control” special service.
Corporate Life Cycle Whole Process Service
Detailed Plan
Fubon Insurance provides business continuity planning and post-disaster loss control services that help customers quickly rebuild their operations and reduce capital expenditures when a disaster occurs, limiting the potential risks from accidents. With the backing of the global reinsurance market, the company offers complete protection against natural disasters to companies and the public through earthquake, typhoon and flood insurance and business interruption insurance.
Move in tandem with prestigious universities for academia-industry collaboration
Fubon Insurance has also teamed up with National Central University and National Taiwan University’s Center for Weather Climate and Disaster Research for many years to gain insight into risks associated with natural disasters and develop a variety of quantitative assessment models. These include models to assess fire risk, earthquake risk, typhoon flood risk, and engineering project risk. These supporting systems help the company offer clients comprehensive life cycle risk management and loss control recommendations.
Enterprise Life Cycle Complete Process Services
Fubon Insurance’s Outside Partnerships on Risk
Risk Management Solutions Inc.
Typhoon Risk
Teamed up to study typhoon risk: introduced the best tools Typhoon Risk from home and abroad to help companies use scientific methods to quantify and manage risks from natural disasters.
Taiwan Risk Management Co.
Typhoon/Earthquake Risk
After partnering in 2004 to develop an earthquake model,the two sides continued to work together on new models, Earthquake Risk including a typhoon flooding model.
ITRI Green Energy and Environment Research Laboratories
Solar Panel Installation Risk in a Natural Disaster
Typhoons Soudelor and Dujuan in 2015 severely damaged solar power plants, Fubon and the Industrial Technology Research Institute joined hands to study cases of damage to find better ways to fix solar panels in place;related seminars also organized.
Belfor (Germany)
Disaster Restoration
Jointly developed tangible loss prevention measures that have helped clients quickly recover from disasters and strengthened their resilience while also bolstering society's ability to withstand disasters and promote inclusive, safe, resilient and sustainable cities.
Consulting Service for New Construction
Lay a steady and solid foundation with abundant experience
Fubon Insurance speaks in the full conviction that the best timing for loss prevention lies in the design phase of new construction, as only with early risk awareness can desired results be achieved. This is what Fubon Insurance has learned through years of experience and also its unique safety philosophy. From the Hsinchu Science Park fires, the 921 Earthquakes and the petroleum plant fires in the 1990s to the Feb. 6 Meinung Earthquake in recent years that caused losses of nearly NTD10 billion to the Southern Taiwan Science Park, the losses resulting from catastrophes have never stopped for businesses in Taiwan.
Despite a wide recognition of the risk management concept and cutting-edge technologies promoted by Fubon Insurance, both hardware and software facilities in existing plants are not easy to transform, making customers feel helpless. Currently, the Loss Control Department of Fubon Insurance has provided consulting services for new construction to a number of enterprises. Following the philosophy of inherent, passive, active, and procedural safety, Fubon Insurance strives to reach a consensus on loss prevention with customers through education and training.
Provide incisive diagnosis and insight with professional analysis
During the design phase, Fubon Insurance will assist customers in setting appropriate specifications (about fire-proof materials, seismic rating, flood control plans, etc.) as the basis for procurement. During the construction, we provide on-site inspection to ensure good quality. Prior to the formal operation, we’ll help formulate the safety procedures. With complete consulting service models, Fubon Insurance endeavors to satisfy customers’ demands and help customers create a safe environment, ultimately achieving the goal of win-win cooperation and mutual benefit.
Consulting services for new construction include:
A. Providing relevant coaching and training regarding the five industries
B. Recommending appropriate fire safety regulations based on the potential risks
C. Providing relevant fire safety design inspection
D. Making on-site inspection during the construction
E. Assisting in the testing and acceptance before the construction completion
F. Assisting in the formulation of follow-up maintenance plans
Seismic Risk Evaluation
Located at the junction of the Eurasian Plate and the Philippine Sea Plate, Taiwan is within the precincts of Pacific Rim seismic belt, with a relatively high risk potential of earthquake occurrence. Therefore, seismic risk management is a critical challenge facing all the Taiwanese enterprises. This seismic risk evaluation system is the result of combined efforts of Fubon Insurance, the National Central University and the Industrial Technology Research Institute. It can assess the instantaneous acceleration of intense seismic vibrations during regression periods according to the location of the targets, which provides the basis for the design of building’s seismic resistance and internal equipment anchorage. The evaluation is carried out primarily through three stages according to FEMA-310, including:
1/3
1.Seismic Risk Evaluation
By leveraging the seismic risk evaluation system, assess the magnitude of earthquakes and the losses the plant or the office building may suffer, and provide recommendations on structural improvements or insurance schemes.
2. Seismic Resistance Evaluation of Machine Anchorage
3. Portfolio Seismic Risk Evaluation
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1.Seismic Risk Evaluation
2. Seismic Resistance Evaluation of Machine Anchorage
Conduct seismic resistance evaluation based on the anchorage level of the equipment. Identify whether the existing machine anchorage is adequate to effectively mitigate seismic risks, analyze the difference between the normal seismic forces and estimated model-based seismic forces and make improvement recommendations accordingly.
3. Portfolio Seismic Risk Evaluation
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1.Seismic Risk Evaluation
2. Seismic Resistance Evaluation of Machine Anchorage
3. Portfolio Seismic Risk Evaluation
Provide the possible total loss of the enterprise’s assets distributed across Taiwan in a single strong earthquake during the regression period (e.g. the great earthquake of September 21), and help improve the seismic risk management and related insurance planning.
Fubon Insurance Earthquake Risk Assessment Mode
Typhoon & Flood Risk Evaluation
Huge impact of climate change
Typhoon and floods are the main disasters risks facing Taiwanese enterprises, whose chance and frequency of occurrence are higher than those of earthquakes. According to statistics from the Central Weather Bureau of Taiwan, the years between 1911 and 2018 have seen that Taiwan was hit by an average of 3.4 typhoons per year. Climate change has become a global concern. In 2009, the Typhoon Morakot, which brought incredible accumulated rainfall, wrought catastrophic damage in Taiwan, and the threat from typhoon and floods reached an unprecedented level.
Flood risk evaluation
Given the important role that the typhoon and floods play in companies’ risk control, Fubon Insurance developed a flood system with the Center for Comprehensive Disaster Research, NTU, following the completion of the “Earthquake Risk Evaluation System for High-Tech Industries”, a Science and Technology Program sponsored by the Ministry of Economic Affairs in 2006. The system mobilizes the latest digital elevation model (DEM) in Taiwan. Throughout its development, the Atmospheric Sciences of NTU provided rainfall statistics during the regression periods, the Hydrotech Research Institute of NTU was responsible for the flood inundation simulation, and finally the Loss Control Department of Fubon carried out verification and testing. The testing targets include Nari, Aere, Krosa, Kalmaegi, Morakot and other typhoons. After the verification and comparison, the system turned out to be approximately 80% accurate, and could serve as a reference for enterprises in designing flood control plans and deciding response plans.
Business Continuity Management
Give weight to the necessity of enterprise risk management
According to the statistics from the International Loss Control Institute in USA, 70% of the US enterprises who are recorded suffering from a disaster, among other 18,000 disaster records, yet have no risk management organizational structure in place, will suffer tremendous losses or cease operations within 5 years of the catastrophe. Consider the influence of crisis worldwide: the September 11 attacks, taking place in New York City of America, contributed to the global operational issues of the aviation industry; the great earthquake of September 21 in Taiwan gave rise to the global price hikes of computer accessories. It has become a consensus to integrate risk management into the operation strategies and activities of enterprises, and make risk management an automatic behavior of enterprises.
Change of times drives the improvement of operational planning
With the advent of the era of globalization, there are more opportunities as well as threats lurking behind the operational environment of enterprises. King R.P.’s concept, the Disaster Recovery Planning (DRP), once opened a new chapter in risk management. But in response to the change of risks facing today’s companies, DRP has gradually evolved into Business Continuity Management (BCM), becoming an integrated plan. In 2002, Sharp proposed that the BCM is a comprehensive management process, which should include emergency response and crisis management plan, business continuity plan and disaster recovery plan.
Continuity management system is a requirement of international standards
In recent years, companies have been encouraged to adopt the Business Continuity Plan, and the relevant standards and guidelines have been proactively made internationally. The American NFPA1600, the Australian handbook HB221 and the British BSI, BS25999 (Part1/2) provide exhaustive standard practices and requirements for system design and operations, which all demonstrate the importance of operations management for enterprises.
Disaster response capacity stabilizes business operations
The Business Continuity Plan can help enterprises to, in the face of major events, reduce the likelihood and effects of operation disruption and continue the provision of their products and services by adopting the predetermined recovery strategies and preventive measures. The Business Continuity Plan has been regarded as an indispensable policy a good company must implement, and one of the factors determining whether it can survive in the event of accident impact.
Professional partners for walk-through
An effective business continuity plan must consist of key stages such as policy, organization, risk evaluation, operational impact analysis, risk control, recovery strategy, emergency response, post-disaster recovery planning and exercises. Only by investing considerable human and time resources and regarding the insurance company as a long-term partner can it achieve the intended objectives.
Post-disaster Asset Recovery
Support Customers in Asset Recovery
Fubon is fully aware that it is imperative to prepare for completing insurance claims process after receiving the insurance policies of customers. This is why an insurance company subsists . However, based on previous experience, customers are often anxious or agitated after an accident occurs, and this is when they need immediate help. In addition to providing financial assistance, insurance companies should pull customers through with professionalism and patience and help customers restore normal operations step by step. This is the true value of extending services.
All-round disaster rebuilding assistance
In 2014, Fubon sent personnel to BELFOR Germany GmbH – a leader in disaster recovery and restoration in Germany and around the world, to negotiate a cooperation agreement and then concluded an agreement in January 2015, in hope of introducing latest international technologies and resources by virtue of BELFOR’s know-how to help customers recover from disasters faster, limit business interruption and minimize financial losses in conjunction with Fubon’s superior claim settlement service and experience in business continuity and crisis management. This also allows Fubon to expand its offerings from pre-disaster to post-disaster technical services and further complete its business customer service portfolio.
Partner with sophisticated BELFOR
BELFOR is a global leader in disaster recovery and restoration. It specializes in analyzing and recovering damage of different degrees and in different scales caused by fires, floods and storms in a rapid, steady and economical manner, and helping customers overcome post-disaster losses to minimize business interruption risks and resume operations. BELFOR relies upon over 40 years of experience, state-of-the-art technology and equipment, and excellent employees to intervene during the first 24-48 hours following a disaster - a period known as the “golden hours” and kick off corresponding responses for rescue.
Fleet Loss Control Services
Big data analysis helps reduce risks
Fubon Insurance and the Industrial Technology Research Institute (ITRI) worked together to build a fleet loss control service system with the ITRI providing technical support from 2016. They also developed a tailor-made driving recorder (DashCam) that supports real-time detection of driver behaviors, estimating the level of driving and fleet risks, and providing fleet loss control advice report, to lower the fleet driving risks and improve social safety through the integration of data analysis and environmental events.
Fleet safeguards see significant improvement
Customers who use the service have witnessed 30% improvement in bad fleet driving behaviors, which signals how vehicle-mounted devices can alert drivers and enhance the driving safety across the society and also verifies how this service accurately benefits fleet management strategies. This service was awarded Best Initiative in Innovation of 2017 Corporate Governance Platinum Award by The Asset in Hong Kong.
