A fundamental component of the Risk Management process is the transfer of risk to the insurance market.
In a context of increasingly complex risks, companies need to set their insurance strategies in an extremely targeted and scientific way, by operating with competence and professionalism in the international insurance market, in constant and significant evolution. The modern and effective approach of the insurance solution is based on benchmarks and logics which are particularly technical and analytical. It enables us to provide the companies with tangible answers to their real and specific protection needs, going beyond the usual formula of just seeking a reduction in the policy premium. Addressing the insurance issue correctly implies relying on in-depth analysis of the expected risk cost, in order to assess the actual transfer needs. Consequently, the optimization of the insurance cost is not based on the simple negotiation of the market premium, but on the search for an ideal balance between the various financing options and risk mitigation.
In-depth analyses of the various hedging options are the basis of careful assessments to be shared with selected insurance companies. This puts subscribers in a position to express their interest in a balanced hedging cost and also tailored on the actual risk profile of each company. Certainly, a new way of practising insurance must involve and engage the enterprise much more in the fundamental dynamics of its connection with selected insurance companies, through a greater interaction and transparency. In other words, a clear and an all-encompassing relationship facilitates a logic of technical partnership and not only a commercial affiliation.
Following this logic, the role of the professional broker must also change, taking a much more consulting function and not only of mere intermediation. "The Strategic Insurance Management structures have always operated with this philosophy and approach, not replacing themselves but working alongside their customers, supporting the company's resources and encouraging the growth of their skills. This is to better share every single step, from hedging and placement of risks on international markets, to daily operations, up to the management of claims” explains Piero Palmisano, Technical Director of the Insurance Department.
In the face of the internationalization of companies, it is essential to guarantee the management of well-designed multinational insurance programmes, in relation to the numerous and diversified regulatory aspects and specific local insurance markets. "Our insurance consulting and brokerage structures are able to provide a presence in over 120 countries, with 650 offices worldwide, and this enables us to assist our customers in all their needs, both at the central level of the parent company and at the local level of individual subsidiaries” explains Antonio Marchetti di Montestrutto, Commercial Director, Strategica Group.
In a context of ever-increasing complexity of risks, the insurance tool is not always able to provide the best response. So, the use of structured risk self-financing solutions becomes an imperative. Likewise, medium-large businesses may consider the opportunity of setting up a Captive reinsurance, to focus on all the provisioning policies of reserves intended for the development of risk tolerance. "As part of the advanced risk financing activities, Strategica boasts a unique experience in the Italian panorama, having contributed to the creation and management of several Captive companies over the last 20 years. In addition to the study and feasibility analysis, Strategica is able to supply, through its own network of partners, the management and administration services of these companies in the main countries of domicile”, acknowledges Enrico Guarnerio, Chairman and CEO, Strategica Group.
