Risk Management

CrisisRisk does it differently

CrisisRisk views risk differently than any other organization.  We work with insurers to design better programs by improving marketing results, developing more targeted underwriting, mitigating/preventing claims, developing broker education, and focusing on frequency/severity reduction.  We use experience gained from handling hundreds of crisis events to make insurers more attractive to their constituents and more profitable. To successfully do so, we help their insureds manage risk on a large scale, holistically. We want to be involved before, during and after a situation arises.

Rate of Change

What is the biggest risk every organization faces?

Many things may come to mind, like weather-induced threats, cyber threats, workplace and school shootings, racial discrimination, sexual harassment, sexual abuse, malpractice, terrorism, and so many more. These are known risks, which can be mitigated.  We help design innovative approaches to these problems, which will differentiate what you do.

The biggest risk an organization faces, however, may be the ‘unknown’. Due to many factors, including rapidly changing technology, the things we know become the ‘things we knew.’ The list of things we don’t know grows every day, and the things we don’t even know to look for multiply as well. 

Risk management, insurance, actuarial science, and many other pursuits draw information and reference from the past in order to predict the future. Unfortunately, the rate of change has made it such that the information from yesterday may be useless in predicting what is coming tomorrow. One thing is sure, the crises on the horizon are very different than anything experienced before.  We help our clients incorporate tools into their programs which allow their insureds to identify previously unknown risks, sooner.

Creating Better Insureds- Using ‘Crisis’ Knowledge to Improve Results

Insurance policies are critical for covering the “known” exposures.  Fortunately, new coverages are designed for emerging risks every year, like cyber and deadly weapons. Unfortunately, however, due to the exponential rate of change, the insurance industry can’t keep up.  There are too many unknown risks. What is the result? Crisis for your insureds! 

The greatest service any insurer can provide, is to help their insureds prevent an occurrence from the outset.  Prevention is accomplished through the deployment of risk management strategies and 24×7 services that can help an insured ‘in the moment’ when they are dealing with a situation, behavior, or information that leads them to believe something may be imminent.

Once a claim-triggering event has occurred, there are tools CrisisRisk builds into programs that help to prevent common crisis errors.  When something dramatic occurs, what the insured does and says in the first minutes, hours and days can lead to consequences that will significantly impact the human, reputation and financial outcomes.

CrisisRisk works with insurers to offer risk management services and crisis response support to their insureds before, during and after an adverse event.

If you would like to build a better insurance program, contact us.