RISK ADMINISTRATION SERVICES
Sigma's Risk Administration services allow an entity to focus on its primary business pursuits. We become an extension of your administrative team, focused on fulfilling the entity's long-term vision while allowing your internal management team to focus on obtaining day-to-day goals. We offer professional advice regarding the following:
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Insurance Certificate Management and Tracking
Sigma will monitor all incoming Certificates of Insurance issued to your organization. The benefits of certificate management include tracking of policy inception and expiration dates while actively preventing a lapse in coverage, renewal certificate request upon expiration, notification of non-compliance with contractual insurance requirements and corporate minimum insurance requirements, and permanent recordation of coverage in an electronic system.
Sigma can also help you develop an Insurance Certificate Management policy. This system will allow you to effectively and accurately communicate about both parties' insurance portfolios.
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Request for Proposals (RFP), Request for Qualifications (RFQ), Statement of Qualifications (SOQ) Development and Evaluation
Sigma will work with you to develop RFP, RFQ, and/or SOQ specifications. These specifications are tailored to your desired requirements as an entity and may address economic, contractual and legal regulations, if applicable.
Additionally, Sigma will administer the RFP, RFQ, and/or SOQ process allowing management to conduct their day-to-day business. Sigma may conduct an independent evaluation of the responses and offer professional recommendations regarding the benefit of each respondent's proposal.
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Risk Management Manual Development
Sigma's professionals will work with you to develop a customized risk management manual addressing your unique organizational environment, goals and processes, and risk philosophy. Topics including risk retention, insurance limits and claims policies may also be addressed.
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Claims Handling Process Development
Sigma will work with you and your designated Third Party Administrator to coordinate and develop a claims handling process that will enable all participants to know their roles and prevent a breakdown in the outlined procedures. Additionally, written procedures serve as a guide in the event the associate normally involved is not available, thus preventing loss of valuable time.
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Job Description Development
Sigma's professionals will work with you to develop a job description for the employment positions in your organization. This service may include determination of the current tasks and responsibilities performed by members of each employment position. Additionally, Sigma can offer recommendations regarding responsibilities standard to each position in your specific industry and help you incorporate those responsibilities into your workplace.
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