Collaborative Risk Mapping

Our team has been there every step of the way to exploring innovative solutions.

Successful Risk Map Presentation – Secured 2-Year Rate Lock with Safety Focus.

Background and Context

This Kansas City-based company supplies roofing materials and was referred to our services in December 2020. After arranging a meeting in August 2021, the client indicated that they were interviewing brokers. Our team recommended creating a Risk Map, which the client accepted. In October 2021, we presented the Risk Map to the client, who initially suggested splitting the markets, but eventually agreed to work with a single broker following further discussions. Our team received the broker of record in November of the same year, approximately a year following our first meeting, and the client currently intends to retain their workers comp policy.

Solutions and Tactics​

In December, we secured a 2-year rate lock and presented several carrier options to the client, prioritizing safety due to their inadequate protocols. Another win was securing a cyber program, which the client lacked before. Our account manager and director of risk management facilitated a strong client relationship, particularly following a traumatic death claim. In response, the client hired an external safety officer to improve their safety measures.

Effective communication has been essential in maintaining a positive relationship with the client. We established a good rapport with their CFO and safety manager. Our proactive renewal strategy for their upcoming 1/1 was well-received, especially as we worked with the carrier to keep their auto policy active and avoid the risk of losing coverage.

Value and Lessons

Our team’s baseline risk assessments have been crucial in creating value from the get-go. We’ve been involved in every step of the client’s significant revenue increase and are continually exploring innovative solutions, including captive resources, to meet their evolving workers comp requirements. Our communication and insights were particularly valuable over the two-year audit period.

With instrumental risk assessment, BKS offers innovative solutions tailored to meet your business needs.

Ensure your protection is as distinctive as you are.

Get in contact with an advisor today to see how BKS can support you.