Risk Management is the identification, assessment and quantification of the likelihood and financial impact of events which may jeopardize client’s sustainability and growth; and spread of the risks exposed by these events across insurance underwriters in the market.
- Design and implementation of Insurance Program in view of risk portfolio of the client.
- Arranging competitive rate and terms from Insurers, Business placement and policy issuance.
- Reinsurance Program Design in alignment with the market pricing and the organization’s risk appetite.
- Putting in place the Framework and IT infrastructure to support clients in servicing and claims management.
- Placing a proper control mechanism and Monitoring system to respond proactively in case of deviations.
- Advise the process of Grievance Redressal and dispute resolution at Management level.
- Periodic review of the program, data & MIS sharing and taking corrective measures to run the Risk Management program successfully.