Making A Difference For Clients By Controlling Cost Of Risk
In an article published in Property Casualty 360, Kevin McPoyle and Bob Dietzel, founders of KMRD Partners, discuss their risk management firm and controlling cost of risk.
When comparing KMRD to other agencies, the editor reports, “Perhaps the key differentiating service that KMRD offers is its ability to act as the risk-management department for its middle- and upper-middle-market customers—companies not large enough to have their own full-time risk-management staffs, but big enough to have a wide variety of potentially catastrophic losses”.
The editor goes on to report, “KMRD thoroughly assesses the operational risks and cost of risk that an organization faces, spending time inspecting the workplace to gain a first-hand perspective and to identify areas that could expose the company to uninsured losses. The agency then develops a cost-effective loss-control plan using a combination of insurance, engineering, contractual risk-transfer provisions, training and education.”
Insurance sometimes comes last because, as Mr. McPoyle says in the article, “We understand that insurance is actually the most expensive way to transfer risk.”
Struggling with controlling cost of risk? Request a demo of XChange to learn how KMRD clients gain more access and control over all their insurance/policy data, reports, and special documents.