Market Strategy and Risk Analysis Meeting:
Our client advisory relationship begins with a marketing strategy meeting.
- Examine the existing program
- Identify program weaknesses and provide solutions
- Evaluate available risk financing alternatives
- Determine how to best improve upon existing coverage’s and services
- Initial identification of the most appropriate insurance markets
- Establish an action plan
This meeting helps to set the tone and envelop the parameters that will result in a successful partnership.
As your insurance advocate we will evaluate and advise you as to the strongest program based on the various insurance companies’ characteristics and capabilities. This will include evaluating the Financial Strength of each carrier. The financial security and stability of an insurance carrier is the most critical component to reducing your long-term cost of risk. Your purchase of the insurance contract is based upon that insurer’s long-term viability to be around to pay when claims occur. This analysis is just one of the many services Kilbride & Harris performs for you as a strategy partner. We will also assess:
- Experience in underwriting accounts similar to yours
- Ability to provide claims and loss control services at required professional levels at all of your locations
- Willingness to agree to unusual client claims and loss control needs
- Willingness to entertain alternative forms of risk retention
- Willingness to modify policy forms to meet specific needs
- Reputation for flexibility, cooperation and prompt service
- Ability to provide accurate, adequately detailed loss data on a timely basis
This is the culmination of the risk analysis process that you and your advocates at Kilbride and Harris have completed. The combined effort of our process ensures that there are no errors or omissions in your program. The next step is to approach the market and deliver the specifications we have mutually agreed upon. Specific deadlines will be set and a strategy for carrier presentations will be determined. We pride ourselves on being able to negotiate the most favorable rate available which can have the most dramatic affect on your long-term cost of risk. As your strategic partner, we aggressively work with the insurance carriers to guarantee you the best possible program for the most competitive price.
Our marketing effort will follow the three previously mentioned areas:
- Marketing Strategy and Risk Analysis Meeting
- Evaluation of Carriers and Products
- The Marketing Process
We bring our corporate resources to bear when placing and evaluating your needs and requirements to help reduce your long-term insurance costs. During the course of the policy term we monitor the effectiveness of the techniques we have implemented, identify any changes that need to be addressed and discuss any and all anticipated change projected for the coming year. A thorough review of all claims activity will occur and the identification of Risk Management needs will all be reviewed upon your renewal.
This is one of the most intangible yet more invaluable services we offer our customers. Prior to the renewal, we analyze the total premium figures and compare the renewal rates, exposures and modification factors to the previous year’s figures. This allows the customer the ability to make an educated comparison of their insurance program.