Benefits to Clients
Pro-Risk can provide value added business solutions, which would be practical and pragmatic and also assist the Companies in its implementation.
Pro-Risk, through its advisory services and solutions, have added lot of value to its clients. To name a few :
- Brought out operational efficiencies through its detailed study and review.
- Brought out underwriting capacity issues and structural problems and helped the companies re-design the same with more efficiency.
- Brought out critical mortality risk issues in the business, because of non-congruent underwriting and claims experience and business practices.
- Creating a scientific customer data leads out of a cold calling database to assist the life insurance distribution team.
- Helped Companies rework on specific product underwriting guidelines based on statistical and analytical reviews and business analytics.
- Defining a wholistic Life Cycle Risk Management approach in Life Insurance Operations with control processes.
- Helped Companies with some logical UW STP parameters by pointing out business gaps and existing underwriting guidelines.
- Helped Companies with major process lapses that can lead to huge monetary losses.
- Helped Companies with technical review of their Underwriting Decisions – classifying their underwriting decisions in Low / Medium / High Risks w.r.t. their conservative or aggressive approach: a unique offering in the industry.
- Designed a Balanced Underwriting Policy.
- Assisted IT Companies with insurance domain expertise and value added product offerings to its clients.
Review Philosophy & Values
- Board Approved Policy Review
- Provide right advice and control systems and assist in designing processes & policies
- Assess the Business Quality, Underwriting & Claims Management
- Check the Substance over Form in respect of Expected v/s Actual Results
- Review UW Decision Logic & Processes
- Review Claims Decision Logic & Processes
- Review the Risk Control Unit’s modus operandi
- Review the ERM Processes and Practices
- Map all the processes and arrive at a proper Comprehensive Risk Management Structure of the Company.
- Provide Special Consulting Support in Technical Underwriting & Claims Decision Making Process (Strategic only)
- Provide special technical support for complex Underwriting & Claims cases.
- Analytical Review Exercise to assist in generating logical analytical reports, interpreting the same and implementing right solutions based on the outcomes.
Balancing Business & Risk
- How can Risk Management support Business further?
- Claims mapping to Underwriting & Business and taking necessary risk control steps.
- Support the Analytics team to enhance risk management and to increase business.
Startup – Transformation
- Help Start Up Companies in designing right set of policies, processes and controls.
- Assist in Transformational Processes.
- Provide right advice by checking best practices in the industry.
Safeguard Your Organisation With Pro-Risk Formula
Subscribe to us to always stay in touch with us and get the latest news about us.