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.