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

Published 2 April 2019 by Malavika Tohani & David Metcalfe &

Asset Integrity Asset Performance Management Software Industrial Wearables Risk Assessment Market Insight

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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.

Lloyd’s Register Invests In New Capabilities To Support High Hazard Industries
Lloyd’s Register’s Technology Portfolio Enhances Asset Reliability And Operational Risk Management
Lloyd’s Register Has An Ambitious Digital Strategy To Enhance Asset Performance And Risk Management

Organisations mentioned

BAM Nuttall, Bodytrak, Centrica, Cosinuss, EDF Energy, Equinor, European Commission, Fatigue Science, Inch Cape, Lloyd’s Register Foundation, Smart Cap, Swedish Radiation Safety Authority

About the authors

Malavika Tohani

Principal Analyst

Malavika is a Principal Analyst in the Verdantix Operational Risk practice. Her current research agenda focuses on covering operational risk technologies, best practices and growth strategies. Her recent research focussed on benchmarking the capabilities of the prominent operational risk software vendors. She has over 10 years’ experience in research and strategy consulting. Malavika previously worked at Frost & Sullivan, managing and delivering advisory projects for clients involving expansion, acquisition, benchmarking and product development strategies. Malavika holds a MSc in Economics from Madras School of Economics.

David Metcalfe

CEO

David co-founded Verdantix in 2008 and leads the firm’s research and advisory work on the digitization of operational risk management which covers software, systems integration, wearables and drones. Prior to founding Verdantix, David was a Senior Vice President at Forrester Research and Head of Analysis and Forecasting for BT. He holds a PhD from Cambridge University in Game Theory and Decision Analysis and worked as a Research Associate at the Harvard Business School.