Scope of Services - Evaluation and Gap Analysis
Business Understanding & Site Visits
Insurance Program Design & Risk Financing
Business Understanding & Site Visits
• Conduct site visits to key operational locations
• Understand business operations, customers and risk profile
• Review safety protocols, asset exposures, and operational vulnerabilities
Gap Analysis
Insurance Program Design & Risk Financing
Business Understanding & Site Visits
• Identify uninsured or underinsured exposures
• Evaluate alignment of current insurance program with enterprise risk
• Recommend enhancements to coverage and internal risk controls
Insurance Program Design & Risk Financing
Insurance Program Design & Risk Financing
Insurance Program Design & Risk Financing
• Review current insurance policies for adequacy, exclusions, and limits
• Assess deductibles and retentions against loss history and risk tolerance/appetite
• Evaluate alternative risk financing options (e.g., high deductibles/retentions, self-insurance, captive utilization)
• Recommend optimal program structure balancing cost and protection
Broker Performance
Insurance Program Design & Risk Financing
• Review broker Performance and deliverables
• Benchmark broker compensation
• Identify opportunities for cost savings and improved service
- Support Broker RFPs
Scenario Modeling & Coverage Validation
• Model potential loss scenarios (e.g., fire, flood, cyber, liability events)
• Quantify financial impact and assess coverage response
• Recommend insurance policy and structure adjustments to ensure coverage adequacy
Contractual Risk & Insurance Compliance
• Review insurance-related terms and conditions in customer contracts, supplier /subcontractor agreements
• Evaluate outbound insurance requirements to ensure consistency and enforceability
• Evaluate how supplier compliance is monitored via tracking certificates of insurance (COIs)
• Recommend improvements to contractual language and COI management processes
Scope of Services - Outsourced Fractional Risk Management
Insurance Renewal Management
Loss Control & Risk Engineering
Insurance Renewal Management
• Implement structured renewal lifecycle with defined milestones
• Prepare competitive submissions and negotiate favorable terms
• Review policies for accuracy and compliance
• Monitor broker performance and maintain accountability
Exposure Data Management
Loss Control & Risk Engineering
Insurance Renewal Management
• Maintain accurate property values and fleet listings
• Coordinate updates with facilities, finance, and HR
• Track driver compliance and address MVR exceptions
Loss Control & Risk Engineering
Loss Control & Risk Engineering
Loss Control & Risk Engineering
• Coordinate site inspections and hazard assessments
• Track and close out insurer or broker risk control recommendations
• Support occupational injury prevention initiatives
Claims Oversight
Contractual Risk & Supply Chain Compliance
Loss Control & Risk Engineering
• Provide strategic direction for WC, GL, Auto, and EPLI claims
• Ensure timely reporting and adjuster accountability
• Partner with legal for coverage guidance and retention thresholds
Contractual Risk & Supply Chain Compliance
Contractual Risk & Supply Chain Compliance
Contractual Risk & Supply Chain Compliance
• Review outbound contracts for insurance adequacy
• Monitor supplier/subcontractor insurance compliance
• Manage exceptions to the minimum insurance standards across the supply chain