Thought Leadership

The human factor. Thoughts and observations.

The life-blood of any organisation is its people; the success of every system, in every organisation is determined by human factors. We are seeking a deep understanding of these human factors; these are some of our thoughts and observations.

KEY SUMMARY ON INSURANCE ISSUES IN IRISH BUSINESS – Insurance Stakeholders

KEY SUMMARY ON INSURANCE ISSUES IN IRISH BUSINESS – Insurance Stakeholders

Insurance stakeholders can be more transparent and proactive in their client engagement

  • The insurance sector is in a ‘hard-cycle’ (because of claims increases, low competition, increased rates, Brexit)
  • Insurance premium costs have increased 30% year on year from 2016 in high footfall sectors
  • Insurance costs are the second highest costs after wages in high footfall sectors
  • Insurers have and should more often define costing models (e.g. insurance facilities) based on proactive risk management
  • This means quarterly claims reviews and transparent communication between the client, insurance partners and risk management partners
  • Insurers need to be willing to defend their clients if adequate evidence is supplied (e.g. CCTV, training records)

KEY CORRECTIVE: Insurers need to promote sustainable client engagement models through endorsing proactive risk mgt.


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