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⚡️An overview about Insurance and Risk Management Careers.

I've officially hit the 90-day mark at WestCongress Insurance Services LLC as an Associate Account Executive for the security segment 🌟 I’ve spent these past 3 months soaking up knowledge about my company, my coworkers, and the insurance industry as a whole. I've navigated underwriting processes, learned about trends in security-related claims, started studying for my Property and Casualty licensing exam, and everything in between.   I'll admit, learning about claim trends for the security segment has unlocked some new fears for me, but seeing how businesses can protect themselves with the right coverage and risk management strategies has been incredibly motivating. Ready to keep growing, learning, and tackling whatever comes next with WestCongress! #Insurance #Underwriting #Security #InsuranceIndustry

At EIG Risk we’re not just your average insurance broker. We go beyond simply providing coverage—we’re committed to understanding and managing your total cost of risk. Here’s how we set ourselves apart: 1. Comprehensive Risk Assessments We don’t just sell insurance. We take the time to fully assess your business’s unique risks, identifying potential vulnerabilities and opportunities for improvement. By understanding your specific industry and operations, we can tailor a risk management strategy that truly fits. 2. Total Cost of Risk Approach Our goal is to reduce your overall risk exposure, not just your premium costs. We analyze the total cost of risk, which includes insurance premiums, deductibles, and the indirect costs associated with accidents, downtime, and claims. By addressing these factors, we help you keep costs low while improving your risk profile. 3. Data-Driven Insights with Safety & Claims IQ With tools like Safety IQ and Claims IQ, we provide deep insights into your safety culture and claims history. This data empowers us to help you implement proactive safety programs, reduce workplace accidents, and manage claims more effectively, leading to long-term savings and improved coverage options. 4. Proactive Risk Management We’re more than just brokers—we’re partners in your risk management strategy. Our team works alongside you to implement safety measures, streamline claims processes, and provide ongoing guidance to help mitigate future risks. When you work with us, you’re getting a team that is invested in reducing your total cost of risk—not just in selling you a policy. #compliance #tcor #riskmanagement

In the dynamic landscape of the insurance industry, the role of a Risk Manager is more critical than ever, especially in a place as vibrant as Texas. These professionals are the guardians of financial stability, tirelessly working to identify, analyze, and mitigate risks that could impact their organizations. A Risk Manager's responsibilities are multifaceted. They utilize advanced risk assessment tools to evaluate potential hazards and collaborate closely with underwriters and claims adjusters to ensure robust coverage for customers. Their work encompasses risk identification, analysis, mitigation, and continuous monitoring—essential functions that protect both the company and its policyholders. Why is this role so vital? The insurance industry can be unpredictable, and in Texas, where risks can be as grand as the landscape, a Risk Manager ensures a smoother ride. They safeguard financial stability by protecting assets and reducing exposure to liabilities, which in turn enhances customer trust and the company's reputation. Moreover, they play a crucial role in maintaining compliance with strict regulations, helping companies avoid costly fines. The advent of Artificial Intelligence

In the dynamic landscape of the insurance industry, the role of a Risk Manager is more critical than ever, especially in a place as vibrant as Texas. These professionals are the guardians of financial stability, tirelessly working to identify, analyze, and mitigate risks that could impact their organizations. A Risk Manager's responsibilities are multifaceted. They utilize advanced risk assessment tools to evaluate potential hazards and collaborate closely with underwriters and claims adjusters to ensure robust coverage for customers. Their work encompasses risk identification, analysis, mitigation, and continuous monitoring—essential functions that protect both the company and its policyholders. Why is this role so vital? The insurance industry can be unpredictable, and in Texas, where risks can be as grand as the landscape, a Risk Manager ensures a smoother ride. They safeguard financial stability by protecting assets and reducing exposure to liabilities, which in turn enhances customer trust and the company's reputation. Moreover, they play a crucial role in maintaining compliance with strict regulations, helping companies avoid costly fines. The advent of Artificial Intelligence

When I started my business, I wanted to get quotes from all the insurance companies out there. Over the last five years, I’ve learned a lot, and now I'm ready to share that knowledge with you! Independent agents and brokers have a specific list of companies they work with, representing those companies and getting paid to sell their products. They won’t suggest you look at carriers they can't quote, because they don’t want to lose the sale. That type of relationship doesn't always bring the best value to the client. Agents and brokers have their preferred carriers—not necessarily the ones that fit you best. That's where I step in as your Risk Management Consultant: to help you navigate the market and find the best carrier for your needs. I work for you, not the insurance companies. Then, we partner year-round to manage your organization’s risk. As a consultant, I aim to do more than just help you buy insurance. I want to help your organization manage risk—not just 90 days before your renewal or 30 days after, but year-round! Here are some of the things I can do for you: Contractual Risk Transfer Analysis Risk Assessment and Identification Risk Control and Mitigation Financial Risk Management Enterprise Risk Management Training and Education And more! Does your company have a dedicated risk manager? If not, and you'd like one, we should chat! #FinanceCoach #RiskManager #InsuranceNerd

Focusing on "hot carriers" first when addressing your commercial insurance is like dressing an infected wound with a Band-Aid. Reason being - the #1 driver of the cost of insurance is claims. This is the "infection" for many companies. But wait.... we haven't had frequent or severe claims! In this case, it's essential to craft a submission that highlights profitability to the carrier. Then, with that arrow in your quiver, leverage your loss ratio in the market to drive down rates and secure broader terms and conditions. Steps: 1. First, find a broker that will do the work. It's easier and cheaper for a broker to quote it out and not dress the wound. 2. Focus on the impact and trends of claims in your industry 3. Explore alternative structures of insurance (there can be quite a bit of room for creativity) 4. Approach the market, including the hot ones, with your new plan for success. Article below highlights Targeted Risk Control in our Executive Series. For these conversations, we lean on our newly released tool, PATH, to discuss claims trends by industry, strategies to get ahead, and the ROI associated with different loss prevention technologies. #targetedriskcontrol

🌟 Elevate Your Transportation Risk Management with Industry Leaders 🌟 As a large transportation insurance buyer, you understand the complexities and nuances of managing risk in the transportation, livery, logistics, and rental car sectors. At [Your Company Name], we specialize in providing tailored risk management solutions that have successfully advised some of the largest companies in these industries. 🛠️ Expert Guidance: Our deep expertise in high-end claims, underwriting, and analytics equips us to deliver comprehensive risk management strategies that address the unique challenges you face. We don’t just react to issues; we proactively identify and mitigate risks before they impact your business. 🔥 Strong Carrier Relationships: With our executive-level connections in the insurance industry, we ensure you receive the best terms and coverage options available. Our relationships with carriers empower us to advocate for your needs and secure favorable outcomes for your organization. 📈 Data-Driven Insights: Our advanced analytics capabilities provide you with the critical insights necessary to make informed decisions. We leverage data to pinpoint risk areas, optimize your insurance portfolio, and enhance your overall risk management framework. ⚖️ Legislative Advocacy: We have a proven track record of influencing change, including significant advancements in vicarious liability laws within the rental vehicle industry. Our commitment to advocacy means we not only protect your business today but also work towards a more favorable regulatory environment for the future. Partner with us to transform your risk management strategy into a powerful asset that drives your success. Are you ready to take your transportation risk management to the next level? Let’s connect! 💥 #TransportationInsurance #RiskManagement #Logistics #ClaimsManagement #InsuranceBroker #RegulatoryAdvocacy

In the competitive landscape of insurance underwriting, the integration of risk data is emerging as a secret weapon to enhance the performance of your underwriting team. One way this can be exploited is through the use of loss control, a risk management method aimed at decreasing the likelihood of losses occurring and minimising the impact of any that do happen. Due to the clear benefits of this, numerous key industry players are now claiming that advanced loss control practices can transform the traditional underwriting processes, reducing claims while increasing renewals and premiums.  InsurTech Analyst‘s Harry Slade sat down with Risk Control Technologies Inc.‘s AVP of Sales, David Pittman, to delve into the potential benefits of loss control – and mused whether it could become a silver bullet for underwriting teams globally. Read more here: https://lnkd.in/ea-T9brH #Insurance #LossControl #Underwriting

This #USIExecutiveSeries article highlights how a knowledgeable broker can help develop targeted solutions to reduce claim frequency and severity, and lower overall claim costs by up to 30%. With Insurance cost being cited as a top expense to the transportation industry, this is a critical component of any companies risk management strategy.