ServicesRisk Strategies & Solutions

Bring Your Insurance Product Idea to Life

Mitigate risk and position your new insurance product for success. Partner with Perr&Knight’s Risk Strategies & Solutions (RSS) practice area for end-to-end strategic program development consulting and support. Our experienced insurance operations specialists help you transform your concept into a viable, profitable product.

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REMOVE THE GUESSWORK WHEN LAUNCHING NEW INSURANCE PROGRAMS

The formula for success when entering the insurance market, releasing a new insurance product, or developing an ancillary technology for insurance is unlike any other industry. Unknown input costs, strict regulation, and myriad other variables can distort financial projections and obscure associated risks and pitfalls. The experts and specialists in Perr&Knight’s Risk Strategies & Solutions practice area help you evaluate the feasibility of your idea from every angle – finance, operations, technology, regulation, and competition – to improve your speed-to-market and increase your likelihood of success.

Support for Every Stage of Concept and Implementation

Our industry experts will help you develop an achievable roadmap that outlines costs, timing, and risks associated with every step of the development and implementation phases. The Risk Strategies & Solutions team at Perr&Knight delivers unbiased advice, rigorously researched supporting materials, and reliable guidance based on decades of insurance insight and experience. Our solutions are customized to leverage our clients’ particular strengths, areas of expertise, knowledge, etc.

BUSINESS CONCEPTION, FRAMEWORK, STRATEGY, & PLANNING
  • Determine short & long-term goals
  • Plan of operation development
  • Strategy-specific key performance indicator (KPI) development
  • Timing and resource estimates
PROGRAM & PRODUCT ASSESSMENT
  • Program strengths and vulnerabilities assessments
  • Target market evaluation
  • Premium projections
  • Competitor analysis
  • Feasibility studies
  • Risk retention considerations
  • Avoiding adverse selection
  • Regulatory environment reviews
  • Admitted vs. non-admitted market options
PROGRAM DESIGN & STRUCTURE
  • Property & Casualty vs. Accident & Health
  • Commercial vs. personal
  • Individual vs. group
  • Licensing requirements
  • Coverage triggers
  • Targeted / excluded risks
  • Development & support for rates
  • Policy language
  • Underwriting guidelines
FINANCIAL FRAMEWORK / RISK STRATEGY
  • Financial projections
  • Pro-formas
  • Capital requirements
  • Capital burn rate assessment
  • Optimizing retained risk
  • Market, credit, liquidity, operational risk assessment
PITCH DECKS
  • Product outlines
  • Business plan highlights
  • Financial estimates
  • Competitive analyses
ALTERNATIVE RISK FINANCE SOLUTIONS
  • Self-insurance
  • High deductible plans
  • Risk retention groups
  • Risk purchasing groups
  • Captive insurance entity formation

WHO WE HELP

Our Risk Strategies & Solutions team assists organizations of any size at any stage of program development. We respect each company’s unique internal workflow and business goals and craft our solutions to align with our clients’ individual needs.

New Insurance Entity Startups

Insurtech Firms

Insurance Investors

Insurance and Reinsurance Companies

MGAs, MGUs, and Program Managers

Insurance Agents and Brokers

Captive Insureds

Self-Insureds

BROCHURE

RISK STRATEGIES & SOLUTIONS

Transform your insurance concept into a viable, profitable insurance product. Our experienced risk strategies and solutions specialists are here to help you during every step along the way.

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RISK STRATEGIES & SOLUTIONS

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MOVE FORWARD WITH CONFIDENCE

Whether you are developing a new insurance product, moving to a new software system, or launching an insurtech solution, our experts can help you every step of the way.

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