Fires may affect process and storage equipment causing severe damages and potential accident escalation. Passive protections, based on the application of fireproofing coatings, are usually implemented in order to prevent or mitigate such events. The design and testing of this type of barriers is a critical task due to the extreme heat exposure conditions. For this purpose, several standard tests, based on the use of large scale furnaces and experimental facilities, are adopted. In the present study, a methodology for the assessment of fireproofing materials performance was presented. The methodology was aimed at reducing the costs of fire tests by the combined use of small scale experiments and modeling activities. A novel inorganic formulation based on basalt fibers and silica aerogel was tested and compared with commercial fireproofing materials. A specific Key Performance Indicator (KPI) was evaluated in order to support the effective design of passive fire protections.