Stop purchasing, start managing
Insurance Adequacy “Insadeq” helps you manage your insurable risk profile.
Discover the set of tools enabling Financial Institutions Risk Managers to arbitrate between purchasing an insurance policy and retain an identified insurable risk profile.
About us
Linking
We help achieving the link between operational risk and insurance
Scoring
Our services range from consultancy to the delivery of an insurance scoring tool
Experience
20 years experience of fully integrating insurance to the operational risk management process
Recognized
An approach recognized as good risk management practice by Regulators
Insurance Adequacy Advisory
This approach aims at helping identify which part of their residual operational risk profile (post mitigation efforts like controls, recovery plans or legal protection) is eligible to a transfer to the insurance market. The firm’s decision to purchase insurance is then transformed into a decision to retain part of its “Insurable Operational Risk” (IOR). Such approach brings value to all parts of the Operational Risk project. Below are some examples of “IOR-based” risk management and insurance decisions : Insurance Qualification of a Loss Data Base :
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Loss Database qualification :
get a view on the past insurable events record below the deductible of the insurance policy !
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Insurance premium internal allocation :
get a view on the past insurable events record below the deductible of the insurance policy !
The Insadeq Score
Our scoring methodology provides the Financial Institution with a normalized framework aiming at assessing the adequacy and robustness…
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…of the metrics of the insurance coverage -> “…Do my deductibles and limits contribute to exclude from the cover a significant part of the risk ?”
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… of the field of guaranteed events and impacts -> “…Do my insurance policies match my business profile ? Does a major identified risk fall short of coverage ?”
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… of the general conditions of the insurance contract, of the underwriting information… -> “…Once agreed that the event falls into the field of coverage, how can I get assured of the insurer’s commitment to pay for the claim ?”
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… of the way insurance is managed through the insured firm -> “…Does any malpractice exist in my organization, that could prevent me from obtaining the appropriate indemnification ?”
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