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August - 2014 - issue > 20 Most Promising Business Consultants

Cholamandalam MS Risk Services: Prepare & Prevent, Not Repair & Repent

Poulomi Mukherjee
Monday, July 28, 2014
Poulomi Mukherjee
Recently in Chennai, an 11-storey tower under-construction collapsed killing 61 people and many injured. After examination, an expert team from the Confederation of Real Estate Developers Association (CREDAI) reported there were major flaws in the building design that led to the incident. In another incident, a major blast in a gas pipeline belonging to Gas Authority of India Limited (GAIL), around 15 people were burned alive and equal numbers received severe burns at Nagaram village of East Godavari district in Andhra Pradesh. These incidents showcase the gravity of risk our lives are in.

With growth, comes complexity; and with complexity, comes greater risk. With the increasing awareness and the ongoing debate over development and human requirement, a revolution of the operations at factories wasn't exactly unforeseen. But along with that, managing operational risk to ensure industrial safety has become an imperative gamut that needs to be addressed. Sometimes aesthetics and the requirements outweigh the demands of safety resulting it to get compromised. Armed with years of experience along with the ability to understand customers' needs, Cholamandalam MS Risk Services (Chola MS Risk) an ISO 9001:2008 Certified company- incepted in 1994 - offers risk management services to ensure safety for organizations. It caters to verticals like telecom, hospital, retail, building, warehouses, banking and transport - which have recently started to adopt enhanced safety-oriented methods - along with oil & gas, chemicals and power plants. The company's major clients are from the top 100 BSE index from both public and private sectors. Not only in India, Chola MS Risk Services has captivated some well known clients in the Oil, Gas and Petrochemical industries from Middle East as well with its remarkable services.

This Chennai based company addresses the operational risks right from conceptual stage to finishing stage to minimize accidental losses implementing three footfalls: risk identification, assessment and control. The service offerings range from Process safety, Electrical risk, Environment consulting, Logistics risk Management, Insurance support services, Training programmes and Construction safety. Chola MS Risk is one of the few accredited consultants of Quality Council of India that employs 'environmental impact assessment' studies to ensure environmental compliance. Exerting various methods such as complex mathematical formulae and software, the company determines the risk and the level of its association with an operation and then, finally, brings it to the acceptable level. "We provide end-to-end services that address environment, safety, logistics risks and insurance support services under one umbrella," says N. V. Subba Rao, Chief Executive, Cholamandalam MS Risk Services.

At Chola MS Risk, a 140 people strong team of extremely deft professionals, who apart from having mastery over complex regions and the ability to incorporate the entire procedure into the design process, perform case studies to find the root cause of an accident and learn on-the-go. With plans to expand the employee strength and geographical presence to the Middle East, Chola MS Risk Services foresees to grow its footprint to other oil producing sectors. Envisioning offering services to off-shores and refining its capabilities in research and environmental engineering, Chola Risk Services intends to consolidate the oil & gas market of Abu Dhabi apart from Kuwait while abiding by the philosophy: “The safety of the people shall be the highest law.” – Marcus Tullius Cicero.

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