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21 November 2016
Melbourne-based LMI Group says its products such as online risk management tool RiskCoach are proving increasingly successful in global markets.
RiskCoach, described as a “Wikipedia of risk”, contains vast quantities of information covering 7000 industries, and is now used in more than 100 countries.
“It explains in plain terms the need for insurance in each type of industry,” LMI Group director Steve Manning told insuranceNEWS.com.au.
“It’s a sales tool for brokers and a training tool. It puts old heads on young shoulders.”
Mr Manning says the tool has been in use for eight years, and about 90% of Australian brokers have access to it.
“A number of our users in Australia have international colleagues and recommended the service,” he said. “During the past year we have delivered a number of presentations and now RiskCoach is being used in 124 countries.”
Mr Manning says ContinuityCoach, which helps businesses put together continuity plans, is set for similar expansion following a period of development.
There are also calls for LMI Group to adapt its Business Interruption Calculator for use in the US market.
Mr Manning says this should be achieved early next year.