ex·traor·di·nar·y [ikˈstrôrd(ə)nˌerē, ˌekstrəˈôrdnˌerē]
adjective:extra-ordinary – very unusual or remarkable
What does a good Risk Partnership relationship look like?
- it forms an integral part of the good management of a sound business
- an understanding not only of your business but also of your industry, bringing access to latest industry best practice advice, expertise and solutions to your table
- it presents well thought through and reasoned recommendations, underpinned by relevant experience
- partners you can turn to for valued advice and as a sounding board on risk matters
- a key component at the design stage in your new business initiatives and tenders
What a good Risk Partnership relationship is not:
- a “set and forget”
- seen as a necessary evil
- presenting you with options and leaving you to make decisions without receiving appropriate advice and recommendations
- driven by upselling, cross selling and aggressive head office budgets and targets
- something delegated by Board of Directors and Company Owners without them maintaining an ongoing involvement and interest
Businesses have failed due to:
- poor selection of risk partners
- making poor risk decisions when price is the sole criteria, often through a lack of quality information and advice from their risk partners
- selection of insurers based solely on financial rating and not their attitude, ability and available resources to service claims. Without sufficient relevant experience and expertise with those insurers the advice of a risk partner as to the suitability of an insurer for a particular risk may struggle to go beyond quoting a Standard and Poor’s rating
- not having an appropriate focus on risk and appreciating and prioritising risk solutions
- confusing their selection of insurance solutions and not correctly prioritising the selection of risk partners, insurers, appropriate cover and price
AlphaXO, leaders in:
- strong working relationships with appropriate insurance markets
- specialist insurance and industry knowledge
- extensive experience throughout the region in which our clients operate
- consistent out performance in negotiating and servicing skills
AlphaXO, first when it matters:
Complex and demanding insurance buyers deserve access to a sufficiently large team with a depth of specialist insurance expertise able and willing to support them for as long as it takes when facing business or reputation threatening risks. The team at AlphaXO has the ability, proven on many occasions, to deliver on this.
So, make sure you
- select your Risk Partners carefully
- take responsibility for risk solution decisions at the highest level of the company, ask searching questions of your programme
- involve your Risk Partners early in key decisions and processes
- talk to us and find out why we are different and what Extraordinary! means for your business