How does Funk support digitalisation in mechanical engineering?
Anyone aiming to ensure performance criteria within an IIoT-based business model and thereby relieve their customers of specific risks needs to consider the impacts on their own risk situation from the outset. For mechanical and systems engineering firms, the following question is pivotal when it comes to their own risk-bearing capability: how does any extension of your own service promise (e.g. by means of a performance warranty) affect your own risk situation and balance sheet? With this identifiable knowledge, which can be tested using a scenario-based risk model, suppliers can, first of all, strike the optimum balance in terms of accepting risks vis-à-vis end customers in the form of contractual warranties, etc. Secondly, it also makes it possible to take sound decisions on the necessity and cost-effectiveness of bespoke insurance for the mechanical engineering sector.
As a provider of risk management solutions, Funk supports you in this process from start to finish: with our Business Model Risk Assessment (BMRA), we offer you a modular advisory solution (see chart below). As part of this solution, we assist you with the risk-based structuring of your business model, evaluate all impacts using a bespoke risk model and thus put you in a position to take a sound decision about an optimum risk strategy. If, in this regard, it becomes clear that a risk transfer via a bespoke insurance solution makes economic sense, Funk will, on request, also provide this in its capacity as a broker, meaning that digitalisation in mechanical engineering can be delivered safely.