FTSE 50 Company

The client’s primary objective was to determine whether the current approach to insuring its assets and liabilities represented the most cost effective and efficient risk financing strategy available.

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Years Experience

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Founded in

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Clients

The client’s primary objective was to determine whether the current approach to insuring its assets and liabilities represented the most cost effective and efficient risk financing strategy available.

JPIC was also tasked with identifying where improvements could be made in the way the insurance programme was managed and administered, both internally and with external advisers and stakeholders, including the Company’s appointed broker, its lead insurer and the claims management provider.

At the conclusion of the review, the Company had an in-depth understanding of the strengths of its current approach and where improvements could be made to its risk financing strategy, so that it aligned better with the Company’s attitude to risk and its risk tolerance.

Specific outcomes at the conclusion of the project included:

  • The establishment of a formalised risk financing strategy, including the use of alternative methods of risk transfer
  • An understanding of the risks associated with an over-reliance on a single insurer relationship and the development of a formal insurance market engagement strategy
  • An acceptance that communication within the Company on matters relating to risk financing could be improved and how this could be achieved
  • The highlighting of areas where improvements could be made to the processes and procedures that underpinned the risk financing programme, including the collection and analysis of risk data for renewal and risk identification and management purposes.
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Team Members Involved

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James Purvis, Managing Director, Consultant

James Purvis

Managing Director

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Rob Patience - Insurance Consultant

Rob Patience

Consultant

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Review of Insurance and Risk Advisers

A strong and healthy long-term relationship between a client and its professional advisers will deliver significant financial and business performance benefits.

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Risk Financing Strategy Reviews

Business goals and corporate risk profiles evolve over time and it is important that an organisation’s approach to the financing of risk and risk management is reflective of these changes.

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Professional Adviser Tender Management Services

We are a market leader in the provision of tender management services to clients.

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Retained Advisory Services

We are retained by a number of organisations for whom we provide advice and assistance on a wide range of insurance and risk management related matters.

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Outsourced Risk & Insurance Resource Service

We provide insurance and risk professionals on a Supply of Services contract basis to organisations who require in-house expertise on either a short or long term basis.

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Acquisition and Disposal Insurance Due Diligence

We provide confidential, independent and professional insurance due diligence services in acquisitions and disposals situations.

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Bespoke Consultancy Projects

We have a track record of delivering bespoke consultancy projects to clients who require help and guidance in specific areas of risk and insurance.

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Executive Search / Insurance & Risk Manager Search

We provide specialist executive search services to organisations who are seeking their own in-house insurance and risk manager capability.

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Expert Witness

Our consultants have acted as Expert Witnesses in a range of insurance related cases and are available to provide technical insights and opinions on a wide range of insurance related matters.

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Our Approach

We deliver accurate, timely and professional advice via a unique range of process and strategic planning tools, which are enhanced by our knowledge of best practice and our ability to understand our clients’ businesses and goals. Through the support and advice we provide, our clients make informed decisions around insurance strategy and risk.

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