At Star IT services, protection is about more than just having the right insurance policy. It also means preventing claims before they happen. That's why we base our client relationships on a firm foundation of risk management. Our team of experts will help identify potential risks, examine your operational policies and procedures, and suggest ways to protect your organisation better, ensuring that every day is business as usual. Our unmatched science, technology, and numerous catastrophe risk models help (re)insurers and other organisations evaluate and manage the risks of natural and human-made disasters.
We help our customers outperform, and the world becomes more resilient by making every risk known.
Risk identification mainly involves brainstorming. A business gathers its employees together so that they can review all the various sources of risk. The next step is to arrange all the identified risks in order of priority. Because it is not possible to mitigate all existing threats, prioritisation ensures that those risks that can affect a business significantly are dealt with more urgently.
In many cases, problem resolution involves identifying the problem and then finding an appropriate solution. However, before figuring out how best to handle risks, a business should locate the cause of the risks by asking the question, "What caused such a risk and how could it influence the business?"
Once a business entity sets on assessing likely remedies to mitigate identified risks and prevent their recurrence, it needs to ask the following questions: What measures can take to avoid the identified risk from recurring? Besides, what is the best thing to do if it does recur?
Ideas that prove to help mitigate risk evolve into several tasks, which develop into emergency response plans for future use. If something goes wrong, you need to implement an emergency response plan.