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Risk Assessment
Our proprietary Risk Assessment process systematically reviews a business's existing insurance and risk management program to identify potential areas of improvement, including but not limited to coverage gaps, rate structures, policy inefficiencies, risk transfer techniques, safety and risk management.
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No-charge Risk Assessment.
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Policy Audit - We conduct a 100+ point audit of your insurance policies to stress-test for potential underinsured or uninsured financial exposures.
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Benchmarking - We analyze your policy rates and limits to compare with best-in-class companies of your size and operational risk profile.
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Claims Analysis - We analyze your claims to identify loss trends and mitigation strategies.
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EMR Analysis - We analyze your Workers' Compensation claims to determine areas where you're leaking premium dollars.
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Contract Reviews - We review your contracts to ensure compliance and optimize risk transfer, helping prevent costly claims and out-of-pocket expenses.
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Safety Assessment - We can review your company’s risk management program to identify opportunities to enhance the overall safety culture and improve the effectiveness of risk mitigation.
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Cyber Assessment - We benchmark your cyber rates and limits against best-in-class companies of your size and risk profile, find where a breach or ransomware event would hit hardest financially, and identify the security gaps underwriters look for.
[ PHASE II ]
Our policy audit process systematically reviews an insured’s existing insurance program to identify potential coverage gaps of either underinsured or uninsured exposures. Based upon the findings in our Operations 101 meeting, we then verify how the business actually operates and confirm the coverage deficiencies based upon their max risk tolerance (MRT). The graph above helps us prioritize our solutions to address high severity and high probability items first to ensure our clients' operations remain viable.
Using these findings, we highlight opportunities to restructure policies, reduce unnecessary coverages, and negotiate premium or rate reductions where appropriate (Phase III). Ultimately, we measure the impact of our work in two ways: total premium reduction achieved and the reduction of the insured’s financial exposure to loss.