Confidential Insurance Audit
For businesses that prefer to take a less overt approach to measuring the scope, effectiveness and value of their insurance programme, a confidential audit can provide a useful alternative to a formal broker review.
Our Confidential Insurance Programme Audit allows businesses to benchmark their arrangements without the arduous tender process which tends to create expense and the distraction of management time.
Our independent audit of your risks and insurance programme will provide:
- An analysis of your current and potential insurable risk exposures
- A GAP analysis showing how your risk exposures match against your current programme
- Benchmark pricing for our recommended insurance programme
- Details of an example service plan, including areas of additional assistance such as Health & Safety and risk Management
- Our approach changes the focus from merely looking at cost and concentrates on analysing how your risk exposures match against your current insurance arrangements and pricing
- Tailoring your programme to your needs will enable you to get best value especially in an insurance market that remains competitive with premium savings readily available
- The exercise enables you to exploit these favourable conditions without undue market exposure
- No contact is made with the insurance market. This avoids upsetting a long term relationship with either your existing broker or insurer
- Ensures that your organisation is not over represented in the market with a number of brokers approaching the same insurers, with different presentations and pricing messages. When this happens, insurers are not motivated to provide their best pricing and are less competitive
- The audit is best carried out away from the renewal date so there is no pressure to make decisions quickly. This allows you more time to consider all options and make a more reasoned decision
This is a complimentary service and all work is carried out in house, ensuring that your insurers or broker remain unaware of your actions. Importantly, it is without obligation but we hope our approach will demonstrate our credentials as an alternative advisor in the provision of insurance and risk management solutions.
We understand such audits can be sensitive and so, if preferred, we are happy to work within a confidentiality framework through the operation of a non disclosure agreement.
Timescales and process
We recommend this audit is carried out away from the usual renewal process, thus giving you the flexibility to make informed decisions about programme structure and pricing expectations.