Insurer opens experiential risk management facility for APAC clients featuring interactive simulation labs and an immersive theatre
FM Global has cut the ribbon on its SGD$80m (US$57m) 6-storey risk facility which provides clients with a visual and hands-on risk resilience demonstration hub.
Located in Singapore Science Park, the FM Global Centre is designed to enable organisations to experience risk mitigation efforts through simulations and graphical aids.
On a pre-launch tour of the facilities, StrategicRISK witnessed the centre’s interactive simulation labs and learning spaces.
These spaces include the ‘Fire Pump Lab’ which uses projection mapping to place a real-life pump as a large graphic demonstration, a ‘Warehouse lab’ where fire risks within a warehouse can be explored, and a ‘Sprinkler lab’ where sprinklers can be started to demonstrate water flows and potential issues.
There is also an extensive ‘Natural hazards’ lab, where flood modelling takes place and a high-powered cannon is able to fire objects at typhoon-level speeds. Further to this, there is an immersive theatre which demonstrates how investment in risk improvement can prevent losses.
The centre’s labs have an overarching focus on natural hazards, showing how property losses resulting from high-wind events, floods and earthquakes can be prevented through a focus on greater climate resilience.
Resilience is a choice
Delivered alongside the message that “resilience is a choice”, clients across APAC, including risk leaders and managers, will be able to use the centre to witness risk mitigation options that may be suitable for their organisations. It also provides visual aids that risk managers can translate into their own visualisations for their executives and board.
FM Global Centre stated that it hopes the centre will contribute to Asia Pacific’s loss prevention culture and encourage regional businesses to take action in enhancing their resilience.
Tan Hian Hong, operations senior vice president and operations manager for Asia, FM Global, said the centre underscores a commitment to improving the resilience of its clients across the region. “Our fundamental belief is that the majority of loss is preventable, and the FM Global Centre reflects this combination of engineering and insurance insight,” said Hong.
Malcolm Roberts, FM Global president and chief executive officer, said: “With the opportunity for first-hand experience in the science of risk management, companies will be empowered to elevate conversations about risk improvement, and can more effectively address the challenges of increasing climate risk as well as growth and infrastructure challenges in the region.”