Your Service Team
With our risk management service team at your side – including defining the plan, making all team members accountable, and choosing the right people – you can focus more of your efforts on core business.
Click here to view the graph of your KMRD service team.
Role of Sales and Relationship Manager
- Provides initial analysis of your risk management program and delivers input on your needs.
- Develops initial program design and service plan with input from the team.
- Negotiates the initial program with insurance carriers and assists with future negotiations.
- Is involved in delivering team strategies and initiatives.
- Stays involved and is accountable for ongoing service as well as new business.
Role of Risk Manager
KMRD’s Risk Managers are a key part of your outsourced risk management staff and serve your day to day needs. They are responsible for implementing and monitoring KMRD’s Service Plan, which includes:
- Policy and Endorsement Reviews so you know how their policies will respond prior to a claim. No surprises!
- Contract Reviews beyond insurance compliance including a comprehensive contractual risk transfer analysis. Contractual Risk Transfer is the least expensive way to transfer risk. Also, if we can show an underwriter how you are transferring risk contractually, we can likely achieve reduced rates and broader coverages.
- Bid and Accrual Support assists you in pricing their product and services. We project the impact of business changes on their insurance costs.
- Loss Sensitive Adjustment Forecasting / Reviews to assist you in the budgeting of costs and cash flows. No surprises!
- Experience Mod Projections / Reviews so you are better educated on the impact of current and future experience mods will have on your premiums. Predictability of information will lead to better decision making.
- Acquisition Due Diligence provides you with a better understanding of the risks associated with the company you are buying. This includes an understanding of coverage, potential off-balance sheet risks, strategic risk planning, risk infrastructure, and if the corporate culture is aligned prior to pulling the trigger and completing the acquisition. This information often assists in negotiating a lower price.
- Cost Benefit Analysis for more informed business decision making.
- Coordination of Loss Control and Claims Support designed to achieve results.
- Mid-Term Stewardship Reports to make sure we are focusing on the areas that are important to you.
- Developing Insurance Renewal Strategies with your input.
- Manage the Marketing of Your Company to alternative carriers so you can be sure your insurance program is the most comprehensive and competitive program available. We avoid market confusion using one consistent submission in the marketplace, separating you from others, enabling qualified carriers to provide broad coverage and services at a competitive price.
Role of Account Manager
KMRD’s Account Managers work closely with the Risk Manager in delivering KMRD’s Service Plan to you. They are professionals who:
- Review Policies and Endorsements to make sure your insurance program delivers the broad coverage that was negotiated. No surprises!
- Process Requested Changes in Coverage.
- Ensure KMRD’s Service Plan is delivered timely and effectively, improving your business operations and reducing your cost of risk.
- Address Any Questions you have on a day to day basis. They are “who you call when you do not know who to call”.
- Issue Certificates of Insurance timely and accurately.
- Issue Auto ID Cards in a timely manner.
- Assist with Contract Reviews to make sure you are in compliance with your contract obligations. KMRD understands the least expensive way to transfer/minimize risk is through carefully negotiated contracts.
- Perform Experience Mod Projections / Reviews so you are better informed regarding the impact on current and future workers compensation premiums.
- Provide Bid and Accrual Support so you understand what risk management costs are included in your cost of doing business.
- Prepare Loss Sensitive Adjustment Projections and Reviews so you are aware of the impact of these programs on future cash flow
- Review All Insurance Audits for accuracy and clearly communicate the results to you.
- Assist in the Coordination of loss control and claims support.
- Assist in the Marketing of Your Company to the insurance industry.
Role of Risk Control Coordinator
KMRD’s risk control coordinators provide loss prevention services to supplement the services offered by our insurance company partners, including: inspections, training, education and coordination of insurance carrier’s service commitments, and analysis of loss trends to establish risk management initiatives.
Our goal is to assist in creating and implementing programs that impact loss experience and minimize the cost of risk. KMRD Partners focuses its efforts on providing you with the best service and resources available. To strengthen our knowledge base and expand our expertise, we partnered with highly successful and well respected independent consultants. KMRD does not limit our resources to “in-house” personnel who may not have the expertise, experience or understanding of your industry. Our risk control process begins with an assessment of your operations, not only from a safety and compliance perspective but from a broader perspective geared toward protecting your balance sheet.
Role of Claims Advocate
KMRD’s claims advocate’s goal is to reduce premiums and the overall cost of risk by:
- Maximizing Coverage on first party coverages such as Property.
- Reducing Your Average Liability and Workers Compensation Losses through aggressive management.
Our claims advocates increase communication and produce results by:
- Submitting Claims to the Carrier in a clear manner that is designed to trigger coverage when it is not clear. As you know, lawsuits often include many allegations, some of which are not contemplated by an insurance policy. We focus on the allegations that trigger the carrier to defend you and provide coverage.
- Preparing Claims Follow-Ups to the Carriers and Status Updates to you. We challenge the carrier in several fundamental but key areas: (1) Description of Circumstances that gave rise to the claim, (2) The Current Paid, Reserves and Expenses, (3) Rationale Behind Reserves, (4) Strategy for Resolution, (5) Estimated Time Frame for Resolution. We always push for resolution, (6) Requests for Input from Our Client on strategies to assist in minimizing loss, (7) Suggested Risk Control Initiatives to prevent this type of claim from happening again.
- Preparing Management Loss Reports for better decision making.
- Communicating Loss Trends which assist in establishing risk control initiatives.
- Following up on large and red flag losses to ensure proper attention is being paid by all accountable parties.
Have a question about our world-class risk management service team? Please use the contact form below or email us or call us at 866-957-KMRD (5673) to talk with one of our risk professionals.
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