10 Attributes to Look for in a Risk Management Outsourcing Partner

As anyone working in the construction industry knows, some risks are worth taking, while others simply aren’t. Your company’s risk control process should be placed within the latter group. This is no place for amateurs.

By hiring a professional risk management outsourcing partner, your firm will gain the peace of mind that comes from working with trained, experienced risk control coordinators. The primary job responsibility of these highly qualified individuals is to assist in creating and implementing programs to favorably impact your firm’s loss experience and minimize its cost of risk. Risk control coordinators will also work to devise strategies to prevent accidents from happening, which can lower your workers’ compensation costs.

To be successful, any risk manager or risk management team must possess vision, skills, education, experience, knowledge, temperament and tools to identify, mitigate and transfer risk. In choosing a risk management outsourcing partner, a company must also determine if this individual or team possesses a good fit with your organization. This “outsider” must earn the trust, respect and credibility required to develop, create commitment and properly execute the risk management plan “inside” your organization.

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