Independent Insurance Consulting

Redefining the Risk Management Process

At UIC, Inc., our team represents a new paradigm in the insurance market—a truly independent consultant providing our clients with the guidance, knowledge, and resources to negotiate the right amount of coverage while minimizing premiums.

With both experience and expertise, we know the insurance industry inside and out—everything from property and casualty and umbrella coverage to directors’ and officers’, errors and omissions, representations and warranties, business interruption, and other types of available products and services.

That knowledge pool means we can analyze contracts and accurately judge broker-presented insurance proposals, so we know when you’re getting the best deal and when an offer is not as good as it should be. In cases like the latter, we provide a full-service approach to presenting competitive alternatives and negotiating the proper coverage at a premium that fits your budget. UIC is solely for the client.

Our Insurance Consulting Process

PHASE 1 / RISK MANAGEMENT AUDITOur process begins with a thorough review of your company’s exposures and 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 insurance contract. The outcome of this process will be the foundation for setting risk management goals and the strategy to achieve them.

PHASE 2 / RECOMMENDATIONSOnce we have outlined objectives for your risk management program, our team makes recommendations aligned for your specific goals, whether it’s to close gaps in coverage or lower your insurance premiums. Our experts prepare an RFP outlining desired terms, services and coverage from providers.

PHASE 3 / PRE-RENEWAL STRATEGYAs 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 broker with service requirements and expectations, and then develops the underwriting packages with custom specifications.

PHASE 4 / NEGOTIATIONSAll 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 address all proposal specifications, including coverage and service requirements to reduce risk and secure the best premium rates available.

PHASE 5 / DECISIONS AND IMPLEMENTATIONNext, all proposals are reviewed for accuracy and a matrix is developed to compare each insurer’s response to specifications, coverage terms and conditions and premiums. Our team reviews the matrix with your stakeholders, negotiations are finalized and the transition to the new insurance program is carefully coordinated.

PHASE 6 / POST-RENEWAL STRATEGYOnce all policies are reviewed and summarized for your records, our team attends quarterly claims review meetings for major lines of insurance, monitors loss prevention activities of the carrier, works to ensure that brokers and insurers are accountable for agreed-upon services, and provides you with information on new insurance products on an ongoing basis.

PHASE 7 / ONGOING SERVICESAt this phase, our team ensures your program continuously delivers the right coverage following any changes in the insurance industry, company operations and/or government/legal issues. These factors must be properly managed and work in sync with each other to unlock the most benefits from your customized risk management program.

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