LARGE MULTINATIONALS

“An insider’s view from the outside”

A Risk and Insurance Management Resource for Large and Complex Businesses

RCN provides a supplemental, expert and independent resource to risk management teams in large, complex organisations. Our clients include a number Fortune 500 and FTSE 100 companies and we have extensive experience in supporting multinational risk management initiatives.
Risk & insurance management in such organisations is highly demanding. The scope of work is significant and, in an environment of constant and unpredictable change, there is a need to :

ensure that the function is aligned with the business strategy and goals,
keep abreast of evolving business operations, markets, geography and technology, to ensure that insurance programmes and related services meet expectations
ensure that the insurance programmes, remain within financial budgetary constraints and, when tested, that the insurance providers respond as intended

Global Risk Management

Drawing on our experience in leading corporate risk management teams we are quick to assimilate new challenges and have experience of supporting multinational client activities in many countries around the world.

Typical assignments:

Independent validation and challenge to insurance risk management strategy, resource plans or process maturity.

The CFO of a Fortune 200 company sought demonstration of the value of the Risk & Insurance function. RCN developed a bespoke, qualitative process maturity benchmarking tool which was applied to several US and European multinationals. The output was accepted by client executive management and the RIM’s of the participating companies.

Provision of experienced personnel to help RIM teams execute complex projects and/or navigate significant business changes such as mergers, acquisitions, disposals and IPOs.

A Fortune 200 multinational requested support in selecting insurance broking services for a long-term, high-profile construction & operation project. RCN developed the RFP, specific evaluation criteria, a methodology for analysing the bid responses, and assistance with the broker interviews, shortlisting and final selection. The output from the assignment was accepted by the key stakeholders on three continents.

Captive insurance viability reviews.

A FTSE100 company required assistance in (a) de-risking its insurance captive subsidiary that had transacted unrelated business in the past, and (b) re-evaluating the strategic value of the current domicile. The outcome was a portfolio transfer and migration of the captive to a new onshore location. Assistance was also provided to the captive in hiring outsourced management services.

Supply chain dependency review

The project, commissioned by a FTSE 100 company, involved evaluation of key supplier dependencies linked to a critical operation. Working cross-functionally with business management in several countries, the project deliverable provided a clear, quantified assessment of the exposure. The findings were accepted by key stakeholders and further business contingency planning was undertaken.

Periodic stress testing of corporate insurance procurement strategy.
Expert witness evidence to assist with insurance-related mediation.