New risks are constantly emerging, the profile of known risks shifting. Looking at risk in its widest sense means considering those liabilities you can insure, as well as those you can’t.
To identify and meet the spectrum of your organisation’s risk management needs, our risk partner services signposts you to the experts you need when you need them.
Our risk partners can assist your organisation by calling on the full range of WTW’s expertise. This includes our advisory capabilities in complex areas such as climate change, geopolitical risk and supply chain risk, to operational areas such as property risk, health and safety, health and wellbeing, claims defensibility and resilience.
As you refine your organisation’s risk management strategy, as well as being your conduit to access our wide range of specialists, your risk partner acts as a trusted expert themselves. They draw from years of experience gained in diverse sectors with a broad variety of clients to create strategies tailored to your specific needs.
Your risk partner can provide not only advice, but also offer constructive criticism as you develop your risk management strategy, challenging and bringing fresh ideas where appropriate as you hone your approach.
Your risk partner can contribute to improving your organisation’s risk management across the piece, from board to operational level and in many forums and scenarios. Risk partners can, for example:
- Be present at board meetings, including risk committees
- Advise on emerging, geopolitical and strategic risks
- Bring structure and governance to you risk management programme
- Link your insurable and non-insurable risks
- Offer ad hoc risk management advice on anomalies that may arise.
Typically, your risk partner will work alongside you for a pre-agreed number of days per year while also being available to address any questions on managing your risk effectively as they arise.
Our aim is to help demonstrate a robust and efficient risk management framework to your stakeholders, including insurers. By showing your organisation’s improved risk management to the insurance market, this could ultimately contain, or even potentially reduce, your premiums.
To discover how our Risk Partner Services Practice could strengthen your risk management and the impact this could have on your organisation, get in touch.
