One of the many ways that MK Insure Insurance Services, Inc. differentiates itself from the industry standard is by acting as our clients “Outsourced Risk Manager.”
This allows us to systematically perform various audits to help your company become more aware of the weaknesses that may effect your bottom line.
ORM Process is a building block process that allows companies to outsource the risk management functions of the CFO, HR manager, controller, and other managers. The purpose of the ORM process is to improve the customer’s risk profile which is crucial to controlling and managing risk as well as negotiating risk transfers with insurance companies.ORM Process consists of four important steps. Once the process has been implemented, the goal of improving the risk profile to “Apex” status is achieved.
ORM Process consists of four important steps. Once the process has been implemented, the goal of improving the risk profile to “Apex” status is achieved.
Step-1: Risk Management Audit (Identifying Exposures)
During this very important phase, MK Insure will take the time to learn the operations of your business and analyze the various risks that could impact your business. We will evaluate the current effectiveness of your risk management programs, and how well they are designed to protect the assets of your organization.
Step-2: Risk Management Strategy
After MK Insure has evaluated all the risks and evaluated the current program then we will work with your company to develop risk techniques to handle your specific needs.
Step-3: Risk Management Program Implementation
The implementation part of the process involves leveraging risk management strategies to help develop tailored programs designed to protect your assets while reducing your insurance costs. Our insurance companies have a strong belief in the MK Insure ORM approach, and it motivates underwriters to offer favorable pricing since they know true risk management has been performed.
Step-4: Risk Management Program Monitoring
Most successful businesses are dynamic in that they adapt to changing business environments. What works today might not work tomorrow. Our annual risk management service plan will address key issues on an annual basis for the senior management of your organization. This process will continue to evolve as your business changes. This is where the ORM process pays dividends due to our continued involvement in your organization.