Our Consulting Process A comprehensive approach to close gaps in coverage and save on excess premiums.

Phase 1 of 7: Risk Management Audit

Our process begins with a thorough review of your company’s exposures and transfer of risk strategy including but not limited to your insurance policies. At this stage, our goal is to help you better understand the nature of your risk, and what is and isn’t covered within your current risk management & insurance program. The outcome of this process will be the foundation for setting risk management goals and the strategy to achieve them.

Phase 2 of 7: Recommendations

Once we have outlined objectives for your risk management program, our team makes recommendations aligned to your specific goals, whether it’s to close gaps in coverage, lower your insurance premiums or implement best practices. Our experts prepare an RFP outlining desired terms, services and coverage from all providers.

Phase 3 of 7: Pre-Renewal Strategy

As part of the bid process, a renewal action plan and timeline is drafted. This phase reviews risks, runs a loss-forecasting model, provides you and your current providers with service requirements and expectations and then develops presentations, which accents the best aspects of your business such that the perception of risk can be understood in a way that the cost to transfer same is less and that your company is highly desirable to be underwritten and deserving of maximum protection at most competitive costs. This is not a cookie cutter process but a true customization of specifications designed to deliver the results your company deserves.

Phase 4 of 7: Negotiations

All insurance contracts start out blank. Coverage and costs are, for the most part, entirely negotiable. At this stage, our team ensures responses from insurance providers comprehensively addressing all proposal specifications, including coverage and service requirements to reduce risk and secure the most competitive costs available.

Phase 5 of 7: Decisions and Implementation

Next, all proposals are reviewed for accuracy and a matrix is developed to compare all provider’s responses to specifications, coverage terms and conditions, services, and premiums. Our team reviews the matrix with your stakeholders, negotiations are finalized and the transition to the new or renewal risk management program is carefully coordinated. Frictional cost of changing providers, financial stability and short and long term models are all factors discussed in depth with an unbiased view and only your benefit at the center of each discussion.

Phase 6 of 7: Post-Renewal Strategy

Once all policies are reviewed and summarized for your records our team follows up on any outstanding coverages, which were bound but not represented in the policy. We then implement the accountability process such that agreed KPI’s are met or appropriate actions are taken to resolve any issues. We drive best practices to prevent loss and monitor claims, handling to make certain reserves are proper and claims are only paid with merit or to avoid further loss.

Phase 7 of 7: Ongoing Services

At this phase, our team ensures your program continues to be flexible and timely such that relevant changes in your operation, legislation, and insurance environment are addressed in your risk management program. These factors must be properly managed and work in sync with each other to unlock the most benefits from your customized risk management program.

Case Studies

Millions in Savings for Manufacturing and Distribution Company

Working with our client’s management team, our aim was to create a cultural shift in how risk management as a whole was treated across all areas of business. Using this approach, our consultants were able to secure premium savings totaling over $20 million for our client over a seven-year period.

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Bottom Line Results for Real Estate Investment Firm

Facing a rate increase from its insurers, a large real estate investment firm looked to the UIC team for advice on reducing their premium while maintaining or enhancing their coverage. Working together, we realized a 25% annual premium savings while identifying and negotiating optimal coverage for our client.

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Annual Premium Savings of 40% for Transportation and Logistics Company

Following an independent management review, our team provided a comprehensive report on how to structure the risk and insurance programs based on an analysis of coverage and benchmarking. Among other accomplishments, we were able to close coverage gaps and achieve a 40% annual premium savings.

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Schedule your complimentary risk management audit.

Find out if your business qualifies for a free, high-level review of your insurance program by our independent consultants. Please click the button below, complete the Decision Tree form and submit.

Completion should only take a minute, which may easily turn out to be the best spent amount of time in support of achieving your business goals.

Complimentary Audit