Insurance consulting is not an intangible!

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AAIC has always improved, without fail, our clients’ insuring conditions. In addition, we have always been successful in reducing direct and indirect costs by as much as 50% in some cases.

To most administrators, insurance consulting is an intangible: a service that is difficult to measure. This is in fact not true.

In reality, there are difficulties in initially assessing the need for an insurance consultant, as well as establishing a value for their services. Much of these difficulties can be mitigated when you determine:

  • Why consulting should be considered (see “18 reasons to hire AAIC”)
  • What are the expected results of such a mandate
  • What you – the client wants to achieve

An insurance consulting mandate creates added value for the client by:

  • Identifying exposures and uninsured risks through an insurance audit process
  • Recommending coverage enhancements and risk transfer options
  • Formulating a variety of recommendations and implementation of other risk management procedures
  • Expediting solid and credible results
  • Identifying and implementing tasks with specific time frames

The insurance consultant’s true value rests in the fact that it is an independent third person’s viewpoint and expertise. Who is best suited to manage your insurance needs but an independent seasoned expert?

Key issues that should be addressed with your insurance consultant:

  • The qualifications and areas of expertise of the consultant
  • The objective and scope of the mandate
  • A summary of the current insurance market situation
  • Proposed strategies and potential results generated from the mandate
  • The proposed start and end dates of the mandate
  • The fee structure