Medium-Sized Organisations

“An insider’s view from the outside”

A Complementary Risk and Insurance Management Resource for Mid-Sized Businesses

Some companies employ a full time insurance risk management professional. Many more delegate responsibility to a hard-pressed manager who has many other priorities.

Insurance may be seen as an expensive necessity, which owing to resource constraints does not get routinely evaluated unless there is a significant change or loss. Consequently, insurance purchased may not offer good value (in terms of scope of coverage, limits and/or price). It also might not respond to the changing needs of a businesses operating in very competitive environments.

RCN provides impartial risk management expertise when you need it. We are senior risk management professionals with decades of corporate experience. Our approach is to provide cost-effective support to help you :

Identify and prioritise your company’s insurable exposures
Assure the effectiveness of your insurance procurement process, and
Assist you, and your broker, in the design and implementation of appropriate insurance covers for your business.

Typical assignments:

Selecting the most suitable and cost-effective outsourcing solutions for insurance-related services.

A FTSE 250 multinational requested support in evaluating the performance of its insurance service providers. This led to the client issuing a focused broker service tender for which RCN developed the performance evaluation process; the RFP; evaluation criteria; the bid analysis methodology, and helped with the broker interviews, shortlisting & final selection. The output from the assignment was accepted by the key stakeholders including the procurement function.

Assisting with complex insurance coverage design and negotiations.

RCN has undertaken several missions assisting clients (and their insurance intermediaries) articulate insurance coverage needs, develop appropriate exposure information and negotiate insurance policy wordings. Several clients have engaged RCN to review local insurance arrangements in certain key operational areas such as the US and Asia-Pacific.

Risk & insurance management recruitment

The CFO of a FTSE 350 company required interim support and assistance in evaluating the type and calibre of insurance and risk management support required for the fast-growing business. The contract included role design and recruitment. The net result was a more strategically-focused function with a higher calibre RIM

Interim risk & insurance manager

RCN team members are called in, sometimes at very short notice, to provide continuity and professional support during the the interim period and recruitment process.

Considering the “adequacy” of specific insurance programmes and resilience of the insurance supply chain.
Captive insurance viability reviews.
Support with management reporting and presentations to boards to improve the understanding of insurance risk management.