Corporate Risk Consulting, Inc. is able to provide various risk and insurance procurement strategies and techniques to its clients given its neutral and unbiased position as a client compensated risk management consultant.  We can manage the competitive marketing and bidding of your risk management and insurance programs, whether it involves just one vendor with one policy, or multiple vendors with numerous policies.

Utilizing our client specific customized insurance coverage specifications we are able to create comprehensive risk and insurance program requirements for our clients while also proactively managing their renewal process.  All potential vendors are evaluated based upon the client’s specific industry and needs.

Proposals are requested from all vendors and insurers taking part in the renewal process. Such proposals would be based upon the customized specifications provided to them by Corporate Risk Consulting, Inc.  All proposals once completed would then be reviewed for accuracy, coverage quality, terms, and pricing in order to determine which ones best fit the scope of the client’s specifications.

Corporate Risk Consulting, Inc. will then negotiate on the client’s behalf with all vendors and insurers to ensure that the most competitive pricing and comprehensive terms are being afforded.  Once we are assured of this and comfortable with the final terms and pricing being offered, we will present our recommendations to the client for review.  The client will then make a final determination regarding vendors and programs, and we will continue to assist with the implementation of the programs as required.

While working with Corporate Risk Consulting, Inc. on your risk procurement and marketing needs, it is not uncommon to observe a decreasing trend in risk related expenses.

The scope of services with our risk management and insurance procurement assistance will typically include the following items:

   •  Marketing of Your Insurance Program: This includes the preparation of insurance coverage specifications, working with your existing brokers or in the selection of new brokers, selection and assignment of insurers, the presenting of claim history to underwriters in the most favorable manner, analyzing and recommending enhancements to proposals received, advising the client on recommended programs, finalizing negotiations, verifying accuracy of coverage documentation supplied by vendors and insurers, and assisting with the implementation of the programs as required.

   •  Customization of Service Agreements: This service is applicable to risk and insurance vendors such as agents, brokers, insurance companies, and third party administrators.  Such agreements facilitate partnerships between our clients and their vendors in which accountability is a key component.  Service agreements allow for the client to better control various elements being provided by these vendors such as reserve notifications, settlement notifications, reporting requirements, preferred medical providers, and subrogation authorizations, to name a few.