Upload
cardinus-risk-management
View
37
Download
4
Embed Size (px)
Citation preview
How to effectively manage your Total Cost of Risk
2
Agenda
How is a premium calculated?
What is the Total Cost of Risk?
The risk management process
What are the key success factors?
Case study Discussion
How is a premium calculated?
4
How is a premium calculated?
M.I.
RiskEngineering
Premium
Treaty Reinsurance CostsPolicy Admin Costs
Capital CostsStatutory Levies
Commissions
Base Premium
Expected Attritional ClaimsProvision for Large Losses
Claims Handling Expenses
Does size matter?
The Total Cost of Risk
What are the hidden costs?
8
The Total Cost of Risk
9
The Total Cost of Risk
Zurich’s philosophy and approach to work-related road risk management
11
The risk management process
What are the key success factors?
Case study
Case study – Iron Mountain
2008 2009 2010 2011 2012 2013 20140100200300400500600700800900
1000
Num
ber
of In
cide
nts
14
Case study – Iron Mountain
2008 2009 2010 2011 2012 2013 2014£0
£250,000
£500,000
£750,000
£1,000,000
15
16
0
500
1,000
1,500
2,000
2,500
Case study – Iron Mountain
October 2012 – April 2015
Spee
ding
Inci
dent
s
Discussion