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Insurance Services - Strategic Risk

Supplier: Austbrokers Sydney Pty Ltd

How Austbrokers Sydney can help with Strategic Risk - Adrian Johns

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Adrian has a background of providing insurance and risk advisory services to corporates at global broking firms. Prior to this Adrian priced the technical risk of insurance as an underwriter.

Adrian can help you if:

  • Your risk is not traditionally insurable with an off-the-shelf product,
  • Your balance sheet can retain risk more economically than an insurer,
  • You value long term stability of risk expense,
  • You have significant self insurance levels to manage,
  • Insurers don't fully appreciate your risk profile,
  • You wish to profit from your own risk management success,
  • You are looking to buy or sell a business,
  • You have a large group of customers or members who could benefit from insurance products,
  • You wish to gain a marketing edge with your consumer product,
  • You wish to sell your risk rather than buy insurance,
  • You have an insurance idea but don't know where to start.

When a major bank looked at the cost of providing complimentary travel insurance to its credit card customers it was obvious that claims were driving the cost ever upwards year after year. Through a competitive tendering process involving all key insurers in this market, combined with a review of the cover provided, the bank saved over $1 million on the annual premium - straight to the bottom line. Adrian's analysis of the claims revealed where changes could be made to the cover which provided maximum effect on cost with minimum effect on the marketing benefit of providing the cover.

When a global manufacturer realised that its risk cost fluctuated wildly with the rise and fall of the insurance cycle it looked to Adrian for solutions. A partnership with an insurer over multiple years and across multiple classes of risk locked in a maximum premium cost that would be payable in the event of claims, while still allowing the client to benefit from premium refunds if claims were favourable. "This kind of structured risk financing delivers certainty to all stakeholders while still allowing a client to benefit from their own success in risk management".

"When one size doesn't fit all..."

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