Reason Magazin 2014Q3 Seite 28

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Six Dimensions of a Successful Global Risk Management Program The way to deliver on the promise of a successful global servicing network is to ensure minimal separation between the global and local experience People buy insurance for two reasons either it is a requirement or because they believe that one day they may have a loss and require compensation Essen tially when clients receive a contract from the insurer in exchange for a premium they receive a promise to pay that claim With supply chain networks grow ing vastly and the international presence of corporations reaching deeper into the four corners of the globe the chances of a loss multiplies And whether a loss occurs in a facility in Omaha Nebraska USA or at a secondary site in Bangkok Thailand clients expect the same response that the promise remains the same Providing seamless global coverage is not an easy undertaking So what are the dimensions of a successful global risk man agement program 1 Global network with a world wide reach One of the biggest decisions carriers face early in the course of building a global net work is whether to plant a flag in the form of an owned subsidiary in a territory or to depend on select partners to represent them in certain countries Forming capitalizing staffing and maintaining local subsidiar ies can be an expensive proposition and in truth no single carrier has the wherewithal to do so in every country In many territories local regulation may even preclude for eign insurers from forming a fully owned subsidiary even if they wanted to So most global carriers networks comprise a blend of owned licenses and partner facilities 2 Breadth and depth of a network If you asked 50 risk managers what quali ties define a great global insurance network in their minds somewhere along the line they ll point to network breadth and depth They ll mention local presence and know how They ll want a consistent level of prod ucts and hands on services delivered as well as the ability to offer broad compliant on the ground coverages They will need to the IDEA 28 Reason ISSUE 3 2014