Our recommendations
01
Elevate your risk management strategy.
Take a proactive stance by strengthening your team’s capabilities, adopting innovative tools, and continually seeking new avenues to enhance your organization’s risk resilience. A forward-thinking approach to risk management not only mitigates potential threats but also positions your business for greater agility and long-term stability.
02
Take a fresh approach to renewal strategy.
Anticipate potential obstacles by engaging early with your insurance brokers to assess market dynamics ahead of renewal. Rather than viewing potential premium savings as a windfall, consider reinvesting funds to better align your insurance spend with broader risk management objectives. This strategic approach can help mitigate volatility and promote financial stability.
03
Emphasize risk management in underwriting submissions.
As underwriters sharpen their focus on risk selection, differentiation is key. Buyers that position themselves as top-tier risks by showcasing robust risk management frameworks stand to gain significantly. Comprehensive loss prevention strategies, proactive mitigation protocols, effective claims handling, and well-developed legal defense mechanisms signal a commitment to minimizing exposure. This not only strengthens the underwriting narrative but also increases the likelihood of securing more favorable terms and pricing.
04
Use risk capital more deliberately.
Maximize the impact of your risk capital by aligning purchasing decisions with clear, strategic objectives. Understand what you're buying, why it matters, and how it fits into your broader risk strategy. Regularly reassess your risk appetite, retention levels, coverage limits, and attachment points to reflect evolving financial conditions, operational shifts, macroeconomic trends, and fluctuations in the insurance market. Proactively explore alternative risk financing strategies to enhance efficiency and resilience — especially in anticipation of the next hard market cycle.
05
Integrate analytics into strategic planning.
Leverage advanced modeling and AI-powered insights to uncover opportunities for enhancing the financial performance of your programs. Buyers with strong claims data and loss modeling capabilities are better positioned to negotiate favorable structures, pricing, and terms.
06
Enhance preparedness through scenario testing.
Collaborate with brokers, insurers, and key stakeholders to evaluate your organization’s readiness for a range of potential loss events. Allocate time and resources to the development and rigorous testing of incident response and business continuity plans, ensuring your team can be ready for and respond effectively to a crisis.
07
Reinforce global insurance programs.
In a soft market, it may be tempting to prioritize premium savings. But a passive renewal approach won't suffice. In a dynamic risk environment, it’s imperative to conduct annual reviews of your global and domestic insurance structures, focusing on broadening policy terms, eliminating exclusions, clarifying ambiguous language, and securing multiyear rate guarantees. Push insurers to increase capacity and prioritize partnerships with insurers that demonstrate financial strength and long-term commitment.
08
Partner with a broker that sees the bigger picture.
A forward-thinking broker is more than a vendor — it’s a vital extension of your risk management strategy. Choose an advisor with deep expertise in global insurance dynamics — and the ability to guide data-driven decision-making. Challenge your broker to move beyond transactional thinking and take a holistic view of your insurance portfolio, helping you unlock capacity and optimize coverage across domestic and international markets.
