Global Risk Dialogue

Global Risk Dialogue – Issue 1/2016

Download the latest issue of AGCS' biannual magazine Global Risk Dialogue, which contains news and expert insights from the world of corporate risk.

Available in three languages:

> English
> German
> French

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In this issue...

The risk landscape is changing. Many industrial sectors are undergoing a fundamental transformation. New technologies, digitalization and the “Internet of Things” – a web of connected devices, machines, people and organizations that can interact with one another – are all altering customer behavior, industrial operations and business models. While undoubtedly bringing a wealth of opportunities, such innovations also pose a number of risks, such as cyber security, supply chain vulnerability and the potential for increased litigation.

This edition of Global Risk Dialogue looks at how companies can best respond to these new risk management realities in a comprehensive manner.

Check out the featured articles below:

> Cyber attacks on critical infrastructure

The interconnectivity of critical infrastructure systems, such as for power generation, water treatment, electricity production and other essentials, cause entire power grids to be exposed to cyber-attack by "hacktivists" or terrorists. How can these perils be mitigated? Can the power grid be secured?

> Industry 4.0: A new definition of manufacturing?

A fourth industrial revolution is sweeping the world of manufacturing as more and more factories become "plugged in." Digitalization, big  data, energy harvesting and artificial intelligence are redefining manufacturing as we know it. But bad things can spoil the fun. What are they and how can these risks be managed?

> Risk Snapshot: “Fortuna” CCGT plant

A new Siemens designed combined cycle gas turbine (CCGT) power plant, nicknamed “Fortuna” and located in Düsseldorf, Germany, set three energy output world records. AGCS was the lead insurer on this record setting project.

> Smart factories of the future

Smart factories look much different from the past. Products inform the system where they need to be and predict when they need fixed, new parts are made on the spot with 3D printing and augmented reality software allows employees to learn new tasks quickly. What perils are faced by these future factories? How can risk management help?

> Managing Supply Chain Resiliency

As manufacturing becomes leaner, supply chains are becoming longer, more complex, and highly interdependent on things outside the risk manager’s control, such as lower tier suppliers in sometimes difficult economies. How can businesses build more resilient and reliable supply chains in order to mitigate risk?