The Montage Risk Index™ can reduce management liability losses for enterprise risk managers:

Insurance Company Senior Executives

• Challenges are mounting for insurers. Increased pressure for profitability translates into a hard look at cost reduction and top-line revenue growth.
• Because profitability is linked to the ability to accurately assess risk and manage customer relationships over time to achieve financial success, Montage Analytics provides services to enhance both of these important areas to:  
  • Reduce loss ratios.
    
  • Enable effective allocation of resources, through reports with customized aggregated data.
    
  • Reduce inefficient back-office processing functions via the use of Montage automated application with built-in risk assessment.
    
  • Enable a consistent, uniform and auditable underwriting standard. There is currently no consistent and uniform standard to identify high risk companies and to discover why a company is specifically vulnerable to loss. Montage Analytics has developed this standard.
    
  • Support building stronger, more effective relationships with customers and policyholders through branded reports and links back to insurance company loss prevention and other resources.

Insurance Underwriters and Brokers

Classification is a vital element of pricing risk and is basic to underwriting. However, assessing and pricing risk is time-consuming. Once underwriting decisions are made, they can be difficult to track for process improvement.

• Montage offers full-service branding and customization, there is minimal IT involvement.
  
• For a basic installation, all you may need is a link to our server and you can be up and running in minutes. 
  
• We can help reduce inefficient back-office processing functions via the use of Montage automated application with built-in risk assessment.  Our services can be branded to your company and custom configured to fit your needs:
• Use our fully automated online application and renewal system which delivers the application, the Montage Risk Index™  and selected reports together in real-time.
  
• Use our Montage Risk Index™  together with your existing application or renewal process.
  

We provide reports that:

• Indicate the extent of vulnerability to risk via a three digit score, the Montage Risk Index™ .
  
• Provide standard and custom reports indicating risk drivers, risk analytics and risk profiles by segment.
  
• Identify and rank probable sources of future risks in a diagnostic report which provides a prioritized list of contributing factors.
  
• Provide immediate information within a standard that applies across all areas of an underwriting department.
  
• Strengthen underwriting practices by providing a clear standard leading to improved consistency and auditable decisions.
  
• Enable streamlining and fast-tracking applications and renewals.
  
• Provide statistical distributions of applicants and policyholders to evaluate the risk landscape to strengthen competitive advantage.
  
• Enable collaboration between insurers and their policyholders for loss avoidance.
  

Business Executives, Insurance Applicants and Policyholders

Mistakes happen. When it comes to making an error or committing an omission, the most dedicated and conscientious person can overlook or miscalculate a small detail. Seemingly overnight, satisfied customers, good employees or business colleagues can become disgruntled adversaries and even the smallest slip—however unintentional—can escalate into a lawsuit that threatens a company’s reputation and financial well-being. 

Disputes cost American businesses billions in lost time, productivity, and money.  Legal costs covered by insurance represent only a fraction of the real costs incurred. In this regard, Montage Analytics’ reports provide businesses with critical information needed to identify and prioritize operational risks to enable cost- effective risk mitigation action.

Montage Analytic reports:

• Explain the score and define the major areas of weakness that contribute to the overall score.  The report may be customized to include links to external resources for improvement ideas in weak areas.
  
• Encourage engagement and reflection on risk issues, which is the first step in loss prevention.
  
• Deliver context-sensitive results which are unique and relevant to each applicant or policyholder.
  
• Indicate the extent of vulnerability to risk via a three digit score, the Montage Risk Index™.
  
• Enable policyholder to see their Montage Risk Index™ in relation to their peers.
  
• Identify and rank probable sources of future risks in a diagnostic report which provides a prioritized list of contributing factors.
  
• Create the basis for actionable recommendations to reduce risk exposure.
  
• Enable policyholders to anticipate and manage threats systematically, take preemptive action, and turn areas of vulnerability into opportunities to strengthen their business operation, mitigate risk and prevent loss.
  

Other Businesses and Enterprises Risk Managers

Montage Analytics offers a variety of statistical and other reports that provide valuable information to:

• Independent consultants and peer reviewers.
  • Consultant’s working with professional services firms, such as CPAs may use the Montage Risk Index™  and reports as part of a situation assessment at the beginning of an engagement and after improvements are implemented.
• Educators and those providing continuing education
  • Individual diagnostic reports provide vital information related to educational needs for an individual enterprise. Aggregated statistical reports may be used to identify overall educational needs for a population.
• Government agencies regulating the insurance industry.
  • Aggregated and statistical reports can be used to identify problems and trends within an industry or enterprise group.
• The insurance media and related writers.
  • Aggregated and statistical reports can be used to document strengths, weaknesses, problems and trends within an industry or enterprise group for reports and articles.

11/13/2009