3 Steps to Improve Your Financial Position

Right now, it's critical that businesses pinpoint their frictional costs in their operations. With the economy changing dramatically, you must know your cost structure to protect your margins.

One place, often overlooked, to find financial leakage is inside of your Risk Control Program. Chances are there are many hidden expenses that your business is absorbing that are not paid by the insurance carrier.

Every time you have a claim event - a business disruption - the impact ripples inside of your entire business model. The impact is measured in lost productivity, the costs to reconfigure your workforce, any brand damage you may incur, etc.

Your insurance carrier DOES NOT pay these controllable costs. YOU pay them from your capital, EBITDA, and margins.

To reduce this Financial Leakage and improve your financial position, you must:

  1. Identify the amount and source of your leakage. Most brokers can’t do this, but we are uniquely qualified and trained to analyze your current Risk Control Program to determine if you are being well-served.
  2. Develop a long-term strategy to mitigate these unwanted costs. We deploy specialty resources designed to lower the frequency and additional expenses associated with claims events.
  3. Measure your progress. Knowing and attacking financial leakage is a team effort, and you must keep tabs on the progress. As a client, we’ll provide regular scorecards to show you how your business has improved.

As a Certified Analytic Brokerage, our firm is one of the few firms in North America that can provide you with quantifiable results during this important process. We have the resources, data, and insight to offer you a deeper look into the cost impact of your Risk Control program on your business model. We’re financial partners to our clients and work diligently to improve their performance and results.

To see what we can do for you, please contact us for a complimentary assessment of this recapturable financial leakage that is eroding your margins.

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