Are You Utilizing Outsourced Risk Management Resources?
Are you utilizing outside risk management resources to increase efficiency and savings for your programs? Efficient resources to supplement and support advanced risk management practices are creating more savings than traditional methods.
Clients who have worked with us save 20% or more for their most difficult risks and claims, while adding to the quality and security of their programs. We help the risk and claim management teams focus on 60-80% of the costs of their programs...the current and expected claims.
Evidence has shown that there are five most important things to consider for Enterprise Risk Management (ERM) success that will drive earnings and asset value improvement.
- Consistent, broad organizational goals to "capture" risk for decision-making, with the ultimate goals of decreasing current and expected claim costs, increasing earnings and improving asset valuations.
- Risk Profiling, Risk Assessment and Risk Mapping with a highly specialized and focused approach for the client's type of business. The process should consist of separately analyzing every Risk Profile, then continuously benchmarking each Risk Profile with independent data.
- State-of-the-art Enterprise Risk and Claim Management systems with advanced, real-time analytics.
- Development of an organizational structure which encourages participation from all levels of management in a culture of acceptance and understanding.
- Retention of highly qualified, experienced professional service teams with significant experience in Enterprise Risk Management (ERM) to complement the existing organizational staff.
While many organizations employ a variety of professionals to assist in managing risk, few have highly qualified resources to execute the needed Enterprise Risk Management (ERM) strategies with a focus on claims. The benefits of employing advanced Enterprise Risk Management (ERM) products and services far outweigh the costs by increasing organizational earnings and asset values. Please visit our Outsourced Risk Management site to learn more about specialized resources can reduce your Total Cost of Risk (TCOR).