Our Business Approach
Providing Transparent & Efficient insurance solutions for the benefit of clients and their advisors
RiskPoint is a financial services company with a primary focus of providing insurance solutions to businesses. As an insurance provider, RiskPoint is dedicated to both providing its clients and their advisors with insurance carriers that exhibit excellent financial strength and combine this with best in class service. Our service orientated approach is a focal point for our business approach.
Unlike many insurance providers, RiskPoint does not carry costs of its own sales & distribution organization but rather uses professional insurance intermediaries as its primary distribution channel.
Financial Strength & Authority
At the core of our business is our ability to represent insurance carriers that have the highest security in terms of financial strength and that these carriers give RiskPoint unwavering power of attorney in terms of underwriter authority and claims authority. Insurance policies issued by RiskPoint only have insurance carriers which have met the highest standards in terms of financial strength and who have given underwriting and claims authority to RiskPoint.
Financial strength is normally measured by rating bureaus such as Standard & Poors and Moodys. RiskPoint’s compliance team utilizes these tools as well a vigorous vetting process to evaluate potential carriers to the RiskPoint panel. Only rated carriers with a minimum of “A” rating and/or carriers which exhibit long standing financial strength, unique product delivery & focus are cleared by our compliance team.
Underwriting & Claims
At the crux of providing insurance solutions to the market is RiskPoint’s ability to underwrite risks and provide quality claims service.
Our organization mostly comprises underwriters and insurance technicians who have years of experience assessing risks and evaluating exposures and designing wordings. Our underwriting teams are focused experts in a specific insurance class, client segment, industry sector and bring their skill set from these areas to our client and their advisors. Bringing this expertise to the market, developing new products and our ability to tailor our solutions to the needs and desires of our clients is a key part of our value proposition.
At the end of the day, RiskPoint’s value proposition to its clients is measured by our ability to provide first class claims service. Whether providing legal defence for personal and/or corporate liability claims or quickly processing first party payments, our claims teams focus is on providing a fair, flexible and timely service & settlement. Our customary service parameter in claims handling is to provide confirmation of notification within 24 hours and to ensure the insured and its authorized advisors are kept regularly informed of developments and progress with the claims handling process.
Our loss adjusting & claims team brings expertise to the table by class of insurance with industry insight. Claims adjusting authority is granted to us by our carriers and we do not out-source claims adjusting to outside parties. We do however, engage with technical, financial and legal resources with territorial and/or industry expertise to ensure losses are handled in the most efficient and professional outcome