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Risk Management Blog - ClearRisk

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Using Risk Management to Open Doors, Win, and Retain Business!

 
Risk Management Whitepaper: Introduction for Brokers

With changes in consumer behavior and challenging economic conditions, sales professionals everywhere are struggling to differentiate themselves and grow their business.  The insurance industry is becoming increasingly competitive, making it very difficult for brokers to win and retain clients.  Brokers often struggle to get their foot in the door with new prospects.  In this environment, brokers need to be innovative to stand out.

8 Risk Management Points Every Broker Should Know

 
Risk Management

Mid-market is the most profitable and coveted segment, and therefore the most fiercely competed over. Medium-sized companies have the same problems as Fortune 500 companies, just on a smaller scale.  The problem lies in risk solutions; these solutions don't scale and small companies are unsure of where they can turn for help. As a result, medium-sized businesses do not benefit fully from risk management.

Insurance brokers deal with these companies every day, sharing advice on one important aspect of risk: their insurance. Brokers specialize in helping these same companies use broader risk management resources, tools, and services. If the brokers do not provide risk management services, others will: accountants, lawyers, and OHS and WCC consultants. Insurance brokers should talk to their clients and prospects about risk management in a way they understand. Here are 8 points every insurance broker should discuss with their client:

25 Quick Tips To Get Started With Your Risk Management Planning (Part 3/5)

 
Risk Management eBookThis is the third installment of five blog posts that summarize the 25 quick tips from my eBook, “Insurance Premiums Are Killing My Business."  This risk management ebook is a great start for small to medium-sized business owners that are curious about starting the risk management planning process. The tips below have been written with small to medium-sized businesses in mind, although the same principles should be employed by very large businesses.

Click here if you want to review risk management tips 1 – 5  before going on. Click here to read risk management tips 6 - 10. 

 

Risk Management Tips 11 - 15

11. Use your broker to help you with the claim process.

Your broker can give you advice on the claims process, act as an advocate for you with your insurance company, and help you compile claim documentation.

3 Steps You Must Take TODAY to Reduce Your Software Risks

 
Software Risk Management
The following is a post written by guest author Kit Merker.

Kit Merker has been in technical and management roles for over a decade, doing everything from project management, coding, design, testing, and running a service. He currently works at Microsoft as a Developer Evangelist. Kit Merker has a blog dedicated to preparing for software disasters. Be sure to follow Kit on Twitter after reading his guest blog post below! 

These are times of economic uncertainty for many businesses, and the very idea of spending much-needed funds on something that might happen may seem like suicide. According to CIO.com, business continuity & disaster recovery is NOT a top priority for CIO's.

It's a normal human tendency to stay optimistic and believe that you are immune from disaster. We say, "that'll happen to other people, I'll hope for the best and focus on my day-to-day activities."

But, as I say probably too frequently, hope is not a strategy.

Imagine if a disaster hit and you sustained serious downtime, got hacked, or lost data your customers needed. The results would be disastrous for your reputation and could mean the end of your business. You'd be kicking yourself for not preparing.

But just like a teenager learning to drive, sometimes getting in an accident helps you learn to operate more safely. The good news is that there are practical things you can do to reduce your risks of software disaster.


Here are 3 things you can do TODAY to reduce your software risks:

1. Create a Crisis Phone Tree


I am a huge fan of lo-fi approaches to dealing with the unknown. This may seem like basic housekeeping, but it will help you handle a crisis much better than having the wrong people or the wrong contact information. When's the last time yours was updated? Also, you could create a simple rotation to designate who is "on call" in a given week to handle anything unexpected. You don't need heavy policy & procedure if you have smart people who are familiar with the software empowered to do the right thing.

10 Ways Risk Management Will Recession-Proof Your Brokerage

 

We aren’t technically in a recession (that we know of), but it’s not looking good! Troubled economic times make your clients and prospects price shop; that increased competition is the icing on the cake for brokers who are also struggling with the economy. A slight change in approach can go a long way towards growing brokerage revenues and weathering the economic storm.

How Steve Jobs Changed Technology, Business, and the World

 

The overwhelming sentiment I am noticing today is that so many people feel a profound sense of loss for someone they have never met. Steve Jobs changed everything!

How many business leaders in history can we truly say changed the world? Not only did he revolutionize personal computing, mobile phones, the music industry, and the way people read, play and work, he also inspired a generation of innovators and entrepreneurs.

Risk Management Interview: CKR Global at RIMS Canada

 

This is the second post of the Risk Management Interview series, where I interview risk management and insurance professionals on various risk management topics. You can read the first installment Risk Management Interview: Nowell Seaman at RIMS Canada here.

Our partner Canpro Global has recently merged with King-Reed to create one of Canada’s largest risk management and investigation firm: CKR Global. During this interview, Ken Cahoon, director and managing partner of Canpro Global, discusses the merger with King-Reed and what it means for the risk management industry.

Here’s what Ken had to say:

Risk Management Interview: Nowell Seaman at RIMS Canada

 

This is the first installment of the Risk Management Interview series on the ClearRisk blog. Over my business trips, I’ve had the opportunity to meet many risk management thought leaders. I decided it would be a great idea to gather the opinions of various risk management and insurance professionals to share on our risk management blog, and so began this series.

RIMS Canada Conference: 10 Years Post 9/11

 

September 11, 2001 is this generation’s Kennedy assassination. It’s the day when everyone knows exactly where they were and what they were doing when they first found out about it. For risk managers in Canada, that day was spent in Ottawa at the RIMS Canada Conference.

The 6 Biggest Risks Concerning Small Businesses

 

I recently participated in an interview on the risks faced by SMBs with Pam Clark of Business Insurance. Matthew Brodsky of Risk & Insurance Magazine, Jon L. Gelman an expert on worker’s compensation and I set out to give small business owners some useful advice on their most pressing risk management issues. Go here to view the full interview.

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