Advertise Here
Icon

Directory

IconActuaries
IconAdministration Outsourcing
IconAsset Managers
IconAssociations & Institutes
IconAuditors
IconBanking
IconBBBEE Consulting and Verification Agencies
IconBusiness Chambers
IconBusiness Process Management
IconBusiness Process Outsourcing
IconCompliance
IconConsumer Protection
IconCorporate Governance
IconCredit Bureaus
IconCurrencies
IconDebit Order Collection Facilities
IconEducation and Training
IconFAIS
IconHuman Resources
IconInformation Technology and Software Partners
IconInvestment Consulting
IconInvestment Fund Managers
IconLegal
IconLISPs
IconListed Equities
IconOmbud
IconParticipation Bond Managers
IconPolicy Administration
IconPolicy Trading
IconProperty Unit Trusts (PUTS)
IconPublications
IconRegulatory Authorities
IconStock Exchange
IconSurveys and Research
IconTraining Courses & Workshops
IconUnit Trust Fund Managers
IconWellness Programs
Image
  Subscribe To »

Looking to reduce PI exposure and develop premium growth at the same time?

Published

2019

Thu

01

Aug

 
  • Commercial Risk surveys; Critical for growth in current market conditions.
  • Looking to reduce PI exposure and develop premium growth at the same time?
  • PI exposure mitigation with premium growth all under the same roof

 

AMS, the largest independent commercial risk surveying company in SA, with over 21 years  service in risk surveys to the wider insurance industry, is on a goal orientated drive to convey the lesser discussed service, which not only delivers insurers with compliancy requirements for its commercial clients but critically offers a high level of return to the entire insurance distribution network which includes the claims area.

This service delivers critical feedback through the insurance value chain, (both traditional as well as direct insurance), from quote stage up to and including the claims stage. Of critical importance is the fact that the technical  knowledge of this critical service has been diluted and or in some cases completely lost over the last few decades.  As the highly competitive insurance market has aligned its own strategic business models to focus on growth and subsequently claims, there has been an ever increasing gap between what insures offer as adequate cover and how they mitigate this extensive cover in line with its mammoth compliancy requirements from various re-insurance programs and or treaties.  AMS in conjunction with some of its established clients has, over the years, developed a level of risk surveying that delivers direct ROI to the client (Premium payer), the insurer (Risk taker) and the broker, (The administrator, growth/sales driver)

Bernd Veening CEO of AMS, confirms that this level of survey/risk management has been very successful in delivering the desired results through the various channels.

Peter Olyott,  CEO of Indwe Risk services, concurs. “We  embarked on  an extensive risk program with AMS, on a national basis, which shows that this level of underwriting service can potentially significantly   mitigate exposures. Of concern to us, in particular as compliance is  critical, is how to effectively and professionally mitigate our clients’ risk exposures  but at the same time deliver what our clients (Premium payers) expect of us. This program has shown what is in fact possible.  Our program with AMS has the potential to provide for both an encouraging return in terms of  mitigating our levels of PI cover due to under insurance and perhaps important uninsured risks ,  but as  importantly,  offers us a tool in driving our challenging growth models.”

Bernd, adds, “our national footprint as well as our technical insurance knowledge, developed over the last two decades, allows AMS to lead this market offering. Key to this is the potential cost saving to insurers who have traditionally used in house resources for this task. Our cost effective, service level driven model, allows us to deliver excellent alternative ROI generation for insurers nationally.”

 
Source: Asset Management Solutions
 
« Back to previous page Print this page » |
 

Breaking News »

The risk of a US bear market is higher than a year ago – PSG Wealth

The current bull market reached its 10-year anniversary this June, making it the longest bull market run in modern history. Understandably, this makes investors nervous. Everyone remembers the mayhem of 2008 – ...
Read More »

  

Allianz Global Risk Dialogue

The rise of the cobots   Collaborative robots – or “cobots” – are a key manufacturing technology for tasks requiring human and machine cooperation and have been identified by ...
Read More »

  

Work your data to make it work for you

The financial services industry generates huge volumes of data and storing it safely and correctly has always been an essential element of business. Data, however, is typically stored in old mainframe systems, ...
Read More »

  

Coface South Africa Champions at the 2019 Gender Mainstreaming Awards

Coface South Africa, the international credit insurer, was the overall Gender Mainstreaming Champion at the 2019 Awards. Winning four different awards: The award for a Non-JSE listed company in the category ...
Read More »

 

More News »

Image

Healthcare »

Image

Life »

Image

Retirement »

Image

Short-term »

Advertise Here
Image
Image
Image
Advertise Here

From The Glossary »

Icon

Expense Loading:

The portion of the annual premium which is intended to cover expenses incidental to the business of insurance, such as sales expenses, taxes, general administration, salaries and underwriting profit.
More Definitions »

 

Advertise

 

eZine

 

Contact IG

 

Media Pack

 

RSS Feeds

By using this website you agree to the Terms of Use.
Copyright © Insurance Gateway (Pty) Ltd 2004 - 2019. All Rights Reserved.