Lloyd's Register Enhances Risk And Asset Management Expertise With Digital Innovations

Executive Summary

This report forms one in a series covering technology and service providers in the operational risk management market, which is entering a new phase of growth and innovation. With a core business as a maritime classification society going as far back as 1760, Lloyd’s Register now focuses on improving safety and increasing the performance of critical infrastructure through certification and accreditation work, technical assurance, software and expert advisory services. For two decades Lloyd’s Register has offered a portfolio of IT products for risk assessment and asset reliability improvement. More recently, Lloyd’s Register has invested in digital technologies such as wearables for vital signs monitoring in workers, sensors for monitoring pipeline integrity and advanced text analytics to identify the most frequently occurring safety hazards. The firm has aggressive plans to embed digital innovations in its technical services propositions reflecting the need to engage a younger workforce and leverage industry 4.0 market growth opportunities.