Utilizing a Risk Management Based Approach to Insurance

 

Professionals, Insurance Management in Wescosville, PA

THE RM PROCESS

COMPLETING THE PUZZLE

  • Identify
  • Analyze
  • Control
  • Finance
  • Administer Solution

The Risk Management process fits organizations large and small, holding great potential as tool in a variety of management decisions.

This process can help identify an organization's appetite for risk, and assist with aligining an insuring program with financial capability of the organization. 

 Identify, Evaluate, & Respond

It is our goal to discuss a company's exposures & risks, matching coverage accordingly. Insurance, which can have a number of shortcomings, is just one of several possible methods of responding to risk. 

The Risk Management process is a proactive process helping organizations identify, assess, prioritize, and respond to a wide range or risks in ways that help clarify management's thinking, effectively reduce the firm's overall cost of risk, and improve operational efficiency leading to increased profitability.

Smart risk management is rapidly emerging as a key competitive advantage for many firms, much in the same way that supply chain management has dramatically changed the way senior executives view purchasing, shipping, and receiving. 

Insurance buying on the other hand, is fundamentally a reactive, static, and ministerial approach that is largley losing its effectiveness in today's rapidly changing gloabal marketplace. A risk management approach also helps to align the risk management function with the organization's overall strategic obectives and works to promote safety as part of the corporate culture. 

Insulating your business from financial harm should not be about the sale of a product - it is about getting it right. We know how important your business is, and that's why it is our business to protect and preserve yours by assisting with the decision that is best suited for you. 

Protecting company assets (personnel, property, profits, etc...) through insurance & risk management is more than merely a financial function... it is a collaborative effort of continuous improvement. 

Our combination of experience, knowledge, and professionalism is the cornerstone of our firm and evident from the beginning, continuing throughout our client relationship.

Control and maximize your insurance recovery

DON'T LEAVE PROTECTION & RECOVERY TO CHANCE

 

Common Methods of Exposure & Risk Identification

  • Site inspections / Walk-thru
  • Flowchart
  • Contractual review
  • Insurance policy review
  • Procedural discussions
  • ... and more

Identification is the most critical component in the risk management process and should be made a part of every insurance purchasing decision. One can't reasonably be expected to develop decision making criteria without first understanding the issues.

We offer guidance and counsel in this unfamiliar territory and secure placement of insurance policies designed to respond to the risks. We collaborate with top carriers, law firms, and industry professionals to remain on the leading edge of coverage developments, working to draft protective language for the policyholder.

 

 

Contact us today for more information about insurance and risk management.