Our Corporate Insurance Expertise
As the insurance markets fluctuate and impact coverage and fees and premiums paid by companies, as well as the introduction of new products, Aviano helps organizations assess insurance coverage to maximize protection at the most economical cost.
Our corporate insurance specialist provides a wide variety of consulting services designed to assist an organization in better aligning their coverage and premiums with management’s risk tolerance and overall company goals and objectives.
Our experience includes:
- Assessing the existing program structure (overall limits, retentions, and coverage).
- Reviewing the underlying coverage and insurable values (principally property and payroll data).
- Analyzing loss experience, claims history, and claims handling.
- Comparing premiums in relation to loss history and underlying coverage values.
- Recommending potential cost saving modifications to the existing program structure in pursuit of optimizing the overall program as it relates to the company’s total cost of risk.
- Identifying process enhancements to the company’s corporate insurance program that drive efficiency and effectiveness.
- Assisting management in the negotiation of any modifications to the company’s corporate insurance program, management of claims, or Third Party Agency (TPA) review.
- Providing a written summary of procedures performed and recommendations made to the company at the conclusion of the review.
The corporate insurance specialist has experience building insurance functions for newly established companies from the ground up, and reinventing an existing insurance program to better align the department’s goals and objectives with the company’s overall strategic goals, risks, and objectives. Having performed this type of review at numerous companies, our specialist has always identified savings related to cost of insurance and provided management with recommendations to improve their corporate insurance process. The savings identified were recurring in most cases, and were always realized by the organization without exceeding management’s risk tolerance. In many cases, the risk profiles for the organization were greatly reduced after the review.
Our specialist, who is a CPA with Big 4 experience and is a member of RIMS, the risk management society™, has extensive experience as a Chief Risk Officer for large international publicly held companies. In this time, he developed and launched global Enterprise Risk Management Programs. He was a founding member of the Committee of Chief Risk Officers in 2001 and acted as chairperson on several key initiatives.
Other responsibilities included managing several companies’ insurance operations and establishing two captive insurance companies. Utilizing risk-based metrics, he was able to significantly reduce insurance costs, while improving the companies’ overall risk profiles.