Risk Management Consulting

Quality Risk Management Consultiing begins with a broad assessment of all the potential exposures a firm faces. The value of this broad approach cannot be underestimated. When the assessment of a firms exposures is conducted with a mindset that is focused entirely on commercial insurance solutions, the consultant can miss the mark. Our process provides you with a . . .

Precise Roadmap to Obtain Optimal Risk Prevention Solutions.

Risk Management is the foundation of our work in commercial insurance.  The value we bring to ASURA clients stems from our belief and commitment to sound risk management practices.  This approach distinguishes our work from many of our competitors.  Once a client understands the value of our approach, we have a life long relationship.  Risk Management brings embedded long term cost reduction, and impacts morale, health, safety and profitability for our clients.  

In the insurance world, Risk Management has a ‘double impact.’  First, implementing fundamental risk management techniques directly and positively impacts loss ratios in the long term:  Workplaces become safer, liability threats are reduced, automobile exposures are less hazardous, and employees are healthier.   But there is a second positive and immediate result . . .  Even before loss ratios drop, underwriters will frequently reduce insurance premiums on renewing policies, recognizing the steps taken to lower exposures.  Underwriters know from experience, the rewards the risk management work will bring.    

This is the true value of a risk management  brokerage firm as compared to a more typical ‘transactional’ broker.  Underwriters understand that clients working with quality brokers are ‘better risks’ who will incur fewer claims in the future. 

 

The framework for professional Risk Management is straightforward: 

– A thorough analysis of company operations  

– Identification of the exposures and threats to company personnel, assets, and financial wellbeing

– Develop specific plans to avoid, mitigate, or transfer risks posed

– Implementation of the plans

– Evaluate the results by benchmarking

 

With effective Risk Management processes in place, companies can move away from standard insurance transactions where insureds essentially ‘trade dollars’ with insurance companies and pay for the privilege.  ASURA helps our clients structure programs that take advantage of effective risk management: 

– Increasing deductibles to reduce cost in areas where claims are infrequent. 

– Evaluating opportunities to contractually transfer risk through hold harmless and indemnity agreements

– Exploring the benefits of shared risk through large deductible and group captive programs