An organization had heard positive things about SilverStone Group, but wasn’t sure our products, knowledge, expertise and personnel could service a business of their size and complexity. Also, due to a long-standing contract with their current broker, this organization was hesitant to enter into a new relationship.
SilverStone Group asked for the opportunity to review their program and provide an analysis of the current structure, pricing and coverages and how the program could be improved.
Our Real Estate Team wrote the account and successfully accomplished a smooth transition. By developing a complete understanding of the client’s business objectives and corporate mission, we implemented a comprehensive program and blueprint to lower the client’s “total cost of risk” for their property and casualty operations. This focused action plan was established through a combination of specific short- and long-term goals that were strategic, measurable, attainable, realistic and time-specific. Industry benchmarking and management “buy in” were also key ingredients in the overall plan.
The innovative plan for this short and long-term “risk management” operation allowed SilverStone Group to present a strategic competitive program, which earned the client’s trust, respect and business insurance.
We developed more than just a “cookie cutter” program for this client. Different options for deductibles, coverage limits, layering programs and manuscript coverage forms were presented. In addition, we were able to show how maximum possible-loss scenarios could affect operations.
By customizing the client’s program, SilverStone Group enhanced the overall risk management program and reduced both direct and indirect costs. The client gained a newfound confidence in the plan, which helped the organization better understand and take control of their business and risk management operations.