Our objective is to protect the financial, physical, human, and reputational assets of your company. We look at an organization from a 360-degree perspective, analyzing the various exposures and delivering strategies, known as our Comprehensive Risk Management Program. The goal of this program is to protect and enhance your risk management strategy and to lower the cost of risks associated with the operations of your company.
While the design of a Risk Transfer Instrument (insurance) is important, the identification of risks is critical and will always come first. Our multi-discipline approach, when combined with our years of experience, has helped us win national awards. As thought leaders, we can identify trends before they are realized and implement strategies to prioritize the risks the clients’ face, many of which are not a traditional insurance product, cost less and will have a far great impact on a companies’ financials. The result is a strategic organizational Risk MAP.
If you are interested in learning more about how we can utilize risk identification to improve your company’s risk management strategy, we invite you to read on to learn more about our process. Reach out any time with further questions or to get started on creating your own organizational risk map.
What Is The Goal Of Risk Identification?
Before investing in risk identification for your company, you probably want to understand why this is an important process for your company to go through. Understanding the goal of risk identification helps you better understand the importance of this task. While utilizing insurance policies, such as general liability, EPLI, and other important plans, helps to protect you in the case of specific claims, this method of risk transfer can be costly for your business. For example, if your company faces a multitude of worker’s comp claims in a year, it can drive up your premiums. So while this risk transfer is effective at covering you, it also comes with a price tag.
Risk identification’s goal is to pinpoint these risk factors before the actual claim occurs. Everything about your business, from your property to your equipment to your policies is put under a microscope to try to find the weak points. Perhaps you have a slew of workers’ comp claims because of fraudulence that has gone unchecked or due to a lack of safety training in a specific department. Risk identification helps you see these details that might go unnoticed in day to day operations and creates a roadmap of where your biggest risks lie.
What Companies Benefit From Risk Identification And When?
If you are wondering if risk identification is the right step for your company to take, the reality is that almost any company could benefit from risk identification. We work with companies that span an array of industries. We work with hotels, restaurants, bars, casinos, home health care providers, construction companies, and more. If you are interested in learning more about how risk identification might benefit your specific business, please reach out to our team.
Not only is there no limit to the companies we can work with, but there is also no bad time to undergo risk identification. Whether you are just building your startup or you have been operating your business for decades, risk identification can take place at any stage in your business’ growth. In fact, the risks you face might look drastically different at the inception of your company versus down the road. Even if you identified your risks at the start of your company, your current risks may now look different. For this reason, any period of your company’s operation is a good time to invest in risk identification.
How Does Risk Identification Work?
Here at Brady Risk Management, we bring years of experience to the table when it comes to risk identification and the subsequent risk management strategy that arises from this task. We will work with you to analyze every aspect of your company from the building you work inside of to the employee handbook you operate with. We combine our knowledge with proven technology and analytics to work towards catching patterns and trends before they occur. We can help you not only find the more obvious risks your company faces but we can also help you see risks that might occur in the future that you never thought to prepare for. Our team brings a unique perspective to your company and utilizes data and analytics to create an intelligent mapping of the risks you face.
What Is The Benefit Of Working With Brady Risk Management?
When it comes to choosing the right company to help you with risk identification, it can feel difficult to know who to trust with this important task. Here at Brady Risk Management, we have years of experience behind us, which makes us a great fit for the identification process. Not only that, but we work with trusted insurance firms across the nation, so when the time comes for creating a strategy to protect your company from identified risks, we can help negotiate ideal terms and conditions for your company’s needs.
Our team will never treat your company with a one-size-fits-all approach. Instead, we will work with you to create a detailed understanding of the risks you face with a clear and effective plan for tackling these risks. Reach out today to learn more about our team and the benefits of working with Brady Risk Management to create your new and improved risk management strategy.