Reliable Insurance Surveyor.
Irfan Hassan Dar & Co. (Pvt) Limited.
Lahore, Pakistan.
How Insurance Risk Management Services Works?
Insurance Coverage Analysis & Alignment:
Aligning any organization's actual risk profile with its existing insurance program is a two-way process.
Through detailed risk audit and inspection risk manager identify critical insurance coverage gaps.
It requires the structural administration of both the risk and its corresponding insurance program.
This appropriate alignment ensures peaceful interactions during insurance claims.
Moreover, coverage alignment with actual risk profile avoids differences during claim situations.
Evaluate Insurance Premium Rating:
We employ our extensive underwriting experience and skills to ensure;
Occupational & operational risks are accurately described & appropriately rated.
Mostly this exercise safely reduces premium rates.
Conversely in case the actual risk profile is comparatively hazardous and demands loss control measures IRM explores risk improvement solutions to balance the scale,
Or employ Insurance risk management techniques to control hazards at a low level.
Explore & Introduce Realistic Risk Improvement Solutions:
'Occupation’ is a primary ‘insurance underwriting factor’ across all classes of insurance business.
Through our risk management techniques, we explores & introduce realistic risk improvement solutions.
To elevate overall occupational & operational safety by mitigating hazards.
It is possible through coordinated effort, employing collective wisdom and administration.
Increased safety ensures production continuity and improves prosperity.
Examine & Explains Mandatory Insurance Claims Protocols:
Businesses must realize that the expressed and implied conditions Of insurance policies heavily influence claims settlement.
IRM identifies specific actions, mandatory documentation & develops solutions to ensure smooth insurance claims settlements.
Insurance Risk Management Is Entirely Self-Funding Services.
Large organizations employ full-time, qualified insurance risk managers to monitor insurance coverage issues as well as cost-effective administration of their insurance programs and ensure financial stability with claims management.
For organizations without internal risk-manager, these services are widely available on a contractual basis, typically spanning 6 to 12 months. These contracts achieve the same strategic objectives and ensure efficient, cost-effective insurance renewals accurately aligned with risk profile.
Insurance Risk Management Services,
The Scope Of Work & Professional Fee Structure.
Insurance Coverage Analysis & Alignment.
Study complete insurance program, review stock positions & evaluation report to check insurance coverage gaps.
Conduct detailed risk audit & inspection to double check insurance coverage alignment with actual risk profile, pinpoint critical areas and their corresponding insurance coverage gaps.
Examine insurance wording to identify & resolve conflicting or confusing issues.
Recommend measures to maximize insurance coverage alignment with actual risk profile.
Service Offering: Detailed analysis on insurance coverage covering all sections (Phase-1).
Service Duration: 10 working days after complete risk audit & inspection.
Professional Fee: 3.00% of annual premium. Minimum charges Rs. 300,000/- Out-station travelling expenses are charged separately.
Evaluate Insurance Premium Ratings.
Physically check competitiveness of premium rates for individual risks & perils during inspection.
Examine underwriting factors for individual risks & perils, division & distribution of risk.
Verify available safety systems and evaluate possible discounts in premium rates.
Suggest opportunities to safely lower premium rates.
Service Offering: Premium rating analysis for individual risks & perils covering all sections.
Service Duration: 5 working days after phase-1.
Professional Fee: 1.00% of annual premium. Minimum charges Rs. 100,000/-
Explore & Implement Realistic Risk-Improvement Measures.
Thoroughly examine sections with high premium rates during physical inspection.
Explore risk improvement solutions through risk-management techniques & loss control mechanism.
Employ collective wisdom with coordinated administrative effort to mitigate inherent hazards.
Elevate operational safety while keeping your risk profile aligned with your policy.
Implement risk improvement solutions and monitor results for a ‘90’ days period.
Service Offering: Section wise details of risk improvement measures.
Service Duration: 20 working days after complete risk inspection (Phase-1). With a 90 days followup for monitoring results.
Professional Fee: 2.00% of annual premium. Minimum charges Rs. 200,000/-
Establish Insurance Claims Protocols.
Review policy mandates for reporting, investigating, documenting, and settling insurance claims.
Build a custom claims management framework aligned precisely with your insurance framework.
Define exact action steps and compile mandatory documentation checklists.
Service Offering: Detailed claim reporting manual with loss mitigation guidelines and documents checklist.
Service Duration: 30 working days after complete risk inspection.
Professional Fee: 1.00% of annual premium. Minimum charges Rs. 100,000/-
Payment Terms:
Advance Mobilization Fee: 50% required upon signing the Scope of Work to initiate the services.
Final Settlement: 50% due immediately upon delivery of the final reports covering above services.
