The Corporate Insurance Challenge in 2021 – Q2/21
In the current market environment of increasing premium rates and the disruptive impact of the pandemic on the insurance market and subsequently the insurance renewal process, the challenge facing the insurance buyer is how best to meet the requirements for reviewing and validating the corporate insurance arrangements in the most efficient manner possible in order to satisfy the operational and corporate governance needs of the organisation.
Our independent confidential insurance audit and review can provide the most effective solution by establishing the best insurance programme strategy and giving the necessary peace of mind both internally within the business and for external stakeholders.
What We Do
We tailor our corporate insurance reviews to the specific requirements of our Clients whether these involve our highly successful confidential audit and review process, managing “open” broker market exercises or developing and implementing strategies for insurance programme reconstruction.
Our primary focus is on providing a comprehensive insurance programme health check in terms of:
- Optimizing insurance costs.
- Maintaining or improving the scope of cover.
- Improving the efficacy of broker service.
A typical Matrix project would incorporate a fresh ground up assessment, challenging the status quo, including:
- Review of risks and exposures – covering current business activities and future developments.
- Detailed technical audit of policy wordings and uninsured risks – ensuring that the insurance protection is “fit for purpose”.
- Evaluation of current programme structure – including recommended improvements.
- Review of broker marketing strategy – ensuring the risk profile is correctly positioned to secure the best results from Insurers.
- Provision of alternative costings – developed through a selected alternate broker.
- Unbiased interpretation of Insurer responses and actual renewal results secured.
- Assessment of existing broker service delivery – particularly given the current hardening insurance market conditions and impact of Covid 19.
In summary, we provide outsourced independent insurance expertise to assist the insurance buyer and reduce management time required in the review process.
Matrix Capabilities and Experience
Matrix are a specialist independent insurance and financial consultancy. For over 20 years we have been delivering successful projects for our Clients across a broad spectrum of industry, commercial and financial sectors on both a national and global basis.
The Matrix insurance team members have previously worked for several of the major insurance brokers and have considerable experience in developing, implementing and managing corporate insurance programmes.
Other team members are experts in a variety of financial disciplines which has enabled Matrix to expand our scope of services to include innovative financial and insurance structuring solutions for businesses, financial institutions and the global M&A community.
We have specifically positioned Matrix so that we do not actually handle or transact business as a broker or Insurer. Consequently, we can provide a wholly independent viewpoint for our Clients without being impacted by the vested interests that are normally involved in insurance market transactions.
Because of our unique positioning, we can negotiate with existing suppliers and alternatives alike, selecting the most appropriate approach depending on the specific requirements of individual projects.
We focus on insurance 24/7 which has given us an in-depth perspective of the capabilities and resources of the broker and Insurer community. Our extensive project work also provides us with an ongoing insight to current market developments and the implications for our Clients.
Matrix are fully authorised and regulated by the Financial Conduct Authority.
Other Matrix Services
These include:
- Insurance Due Diligence projects in the M&A arena
- Investor insurance solutions that enable investors to access finance, additional deal flow opportunities and to de-risk and enhance the security of their transactions
- Financial Services and Insurance Products such as technology performance insurance and intellectual property protection
- Operational Risk and Security Consulting
- Employee Benefits programme and service reviews
” In the current market environment of increasing premium rates and the disruptive impact of the pandemic on the insurance market and subsequently the insurance renewal process, the challenge facing the insurance buyer is how best to meet the requirements for reviewing and validating the corporate insurance arrangements in the most efficient manner possible in order to satisfy the operational and corporate governance needs of the organisation. “
Get in Touch
Please Contact Us for more information on how Matrix assist corporate clients with their complex insurance arrangements and also investors in de-risking and enhancing the security of their investments, through the application of sophisticated insurance and risk solutions that adjust and reduce risk.
