Perr&Knight’s Risk Services practice group is dedicated to helping our insurance industry clients bridge gaps in their internal service offerings, thereby allowing them to capture previously lost revenue streams and maintain control over their customer relationships.
Whether providing technical support for a specific project or full outsourced back-office services for an operational unit, our team of risk management professionals has the expertise and experience necessary to deliver the superior work product that you have come to expect from Perr&Knight.
As a leading provider of insurance support services, Perr&Knight understands risk. Working hand-in-hand with our Actuarial Consulting, Competitive Intelligence, Data Services, Insurance Technology and Regulatory Compliance practice groups, Perr&Knight’s Risk Services team provides a comprehensive and cost-effective suite of services that will allow you to seamlessly address those client needs that fall outside of your company’s core competencies.
You can confidently rely upon Perr&Knight for:
RISK MANAGEMENT PROGRAM ANALYSIS
Third party review and analysis of a client or prospect’s existing risk management program, including:
- Corporate risk profile
- Program performance review
- Optimal self-insured retention levels
- Existing coverage gaps
- Data collection procedures
- Claims administration and oversight
- Legacy claim issues and risk financing options
ALTERNATIVE RISK FINANCE
Full back-office and analytical services for captives and self-insureds, including:
- Educational programs
- Captive feasibility studies
- Program structure and design
- Domicile comparisons
- Formations
- Captive management
- Regulatory compliance and actuarial support
- Operational planning
- Director services
- Exit strategies and closure solutions
LOSS PREVENTION AND CONTROL
Programs to decrease the volume and severity of losses and to monitor results, including:
- Exposure identification and quantification
- Quality-of-data and operational procedures audits
- Claims trending analysis
- Benchmarking
- Loss control system design and implementation
- Resource allocation
CLAIMS REVIEW, ANALYSIS AND SUPPORT
Services to reduce claims costs through improved processes and understanding of exposures, including:
- Review and analysis of reserve adequacy
- Procedural “best practices”
- Claim file audits
- TPA performance monitoring and oversight
- Staff evaluation and training
- Reinsurance recoverables
- Policy interpretation
- Coverage issues
- Litigation support
LOSS PORTFOLIO TRANSFERS (LPT’s)
Collateral relief and balance sheet improvement for self-insureds, captives and standard insurers, including:
- LPT evaluation, design and negotiations
- Novations
- Commutations
- Portfolio buy-outs
- Captive closure solutions
- Analytical support