The privately-held corporation – CEO, CFO, HR Manager – is so much busier today than they were a few years ago. Between the growing regulatory burden, to the changing economic marketplace, they are searching for an individual who has the desire to serve as an “advocate” in helping them mitigate and manage risk, not an insurance salesperson.
What is your TOTAL COST OF RISK?
Our COPRO approach is a process focused on the identification and measurement of risk with the goal of implementing and monitoring appropriate risk management strategies that lower the cost of risk within your organization.
Just as important, the underwriting community takes our diagnostic approach seriously. Because we are improving our clients “risk profile” (thereby reducing claim frequency and severity), the natural outcome of client partnerships is long-term risk and insurance cost reduction.
THE RISK
How can we claim to be your consultant on risk if we do not (a) understand your business, and (b) employ a team of professionals possessing the knowledge and ability to manage the myriad of risks your company faces?
- What are the unique risks facing your organization?
- How should they be managed?
- What are the best strategies to combat the perils they present?
- How do we lower the cost of risk?
THE DUTY
We do not see ourselves as simply insurance brokers. As risk advisors, our duty to the client is not to simply solicit insurance products. Our duty – and why Golsan Scruggs was formed – is to diagnose/assess risk, implement the best strategies (of which insurance is only one), and therefore enhance and improve our client’s risk profile.
Enterprise Risk Management is not Insurance. Insurance is only one component of Risk Transfer.
COPRO, our Enterprise Risk Management approach, is a comprehensive, diagnostic approach and process to managing risk. Note, Insurance represents only a partial component to the strategies employed within the risk transfer mechanism.
THE PROCESS
COPRO is a process and approach to managing your organization’s risks on a comprehensive basis – not just the placement of an insurance policy. It is a process that uses physical and human resources to accomplish certain objectives concerning loss exposures.
The outcome of the COPRO process in risk profile enhancement is to
(1) reduce costs
(2) increase profitability
(3) protect the organization
Golsan Scruggs works with each client to reduce the cost of risks while enhancing its performance through innovative, risk management strategies. Each recommendation on how to reduce risk is concerned in terms of its potential impact on your company’s bottom line.
