GRASP is a sophisticated web-based risk assessment and management tool allowing clients to track risk assessment survey programmes, manage mitigating actions, conduct trend analysis and run management reports across their risk profile.
GRASP was established following the fire of a major fine art storage facility in London in 2004. It has subsequently been developed and refined now being a risk management tool for underwriters worldwide and in Lloyd's of London Underwriters. Whilst XL Insurance Company SE leads the programme in the insurance market, there are currently 21 individual subscribing underwriters to the programme.
GRASP standards are the basis for the new CEN (European Standards) approval and standards number, which is in the final stages of formalisation.