Typical applications of the Montage Risk Index™
Company senior executive – uses to:
- Use the Montage Risk Index™ to develop strategy to
- Achieve risk management objectives
- Set priorities for the use of your company resources
- Prioritize risk avoidance efforts
- Use as a tool to boost your competitive advantage
Risk manager – uses to:
- Identify, measure and monitor risk
- Compare the risk levels in different business lines
- Track your risk trends
- Identify emergent risk exposures
- Improve risk-related controls
- Strengthen informational reports to senior executives
- Recommend risk mitigation strategies and operational improvements
Loss prevention manager uses to:
- Recommend risk mitigation resources to policyholders
Underwriter uses to:
- As a first blush sort by risk score
- To determine appropriate pricing based on competitive analysis
- As a basis for quotes and answers to questions from agencies, policyholders or other external contacts
- As a basis for negotiations with agents to reach positive and profitable outcomes.
- As a basis for analyzing quality and quantity of risks underwritten
Claims manager uses to:
- Develop risk-management policies and procedures to minimize loss
- Evaluate baseline risk exposures and recommend cost effective insurance solution
- Identify potential liability issues
- Estimate expected losses to assist in setting loss reserves
Education provider uses to:
- As needs assessment for continuing education
Broker and agent uses to:
- Help clients select the right policy for their needs
- Place your clients with insurance companies that are most suitable for their needs.
Policyholder uses to:
- As a tool to identify exposures
- To minimize risk in your enterprise
- As a basis for negotiating preferred rates on premiums
11/13/2009
