Our Services for the Insurance Industry
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Global Risk Experts understands that underwriting requires both objective information and subjective judgment; it is a science and an art.
When risks are underwritten based on third-party information, it is paramount that the risk assessor understands the drivers of profitability in the insurance and reinsurance sectors.
Global Risk Experts has a deep knowledge of the specific risks in numerous industry segments, as well as with insurers’ and reinsurers’ underwriting requirements and processes.
We support underwriters in the risk selection and pricing process by applying our expertise – using fact-based, unbiased and agreed approaches – to identify and quantify the most relevant and material technical risk factors associated with the risk within the particular line(s)-of-business, e.g. Property Insurance.
In case of a loss, Global Risk Experts can quickly mobilize the specialized resources needed to support business recovery and post-loss analysis. We can help ensure that business recovery is handled as smoothly and cost-effectively as possible, and capture valuable lessons learned for avoiding or mitigating potential future losses. Fast response with technical expertise will support claims management efforts and the work of the selected loss adjusters.
Global Risk Experts is also an ideal partner for insurance companies who want to outsource non-strategic business activities such as:
- Supporting Risk Service Units to balance peak risk assessment demand or if specific technical expertise is required for certain industry segments
- Supporting Underwriting and Risk Service Units with desktop assessments or analysis of 3rd party reports
- Cost-efficient offshoring of administrative tasks like:
- Handling of resource intensive activities in managing international Risk Engineering / Loss Control programs
- Quality assurance tasks to ensure compliance with contractually agreed service instructions
- Consistency of technical output content and quality (e.g. reports)
- Editorial proof-reading of documents and reports
- Data entry in defined systems or dealing with legacy system issues
- Outsourcing the management of basic training modules on- and off-campus
For senior management at group, regional or local level we also offer strategic reviews of their internal Risk Services Units with options for future operating models. We also have the experience and a proven track record in setting-up internal Risk Engineering units within the concept of build / operate / transfer (BOT).