RISK ANALYSIS SERVICES
Sigma's Risk Analysis services are designed to aid an entity in minimizing the frequency or severity of accidental losses or to make these losses more predictable. We offer the following services to aid an entity in implementing long-term risk control techniques:
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Define / Identify Exposures, Classify Risk and Make Recommendations For Asset Preservation
Through interviews and document review, our experienced consultants will determine the exposures to risk of physical and financial loss for comparison to your current risk transfer portfolio. This helps to identify exposures hidden to the eyes of management.
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Claims Analysis and Auditing
Claims analysis and auditing will ensure that your loss history is accurately represented. This will aid your underwriter in accurately ranking your current loss environment, which may result in lower insurance premiums.
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Third Party Administration Evaluation and Auditing
Third Party Administrators serve as an independent administrator of your loss activity. Sigma will work with your administrator to ensure industry-accepted claims handling practices are being followed. This may result in more accurate handling of claims activity and lead to decreased claim costs.
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Risk Management Information System (RMIS) / Claims Management System (CMS) Evaluation and Recommendation
Sigma will work with you to determine your electronic record-keeping goals for documenting claims, policy information and fulfilling insurance company reporting requirements. We will work with you to develop RMIS / CMS specifications that fit your company's specific needs and examine the marketplace for an appropriate system to fit those needs.
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Mergers and Acquisitions
Sigma will work with you to evaluate exposures to risk in the process and upon completion of a merger and/or acquisition. The merger and/or acquisition process may involve a new relationship between similar or different industries. Sigma will meet with your administrative team to help merge existing insurance portfolios, develop a new portfolio based upon your firms risk appetite, determine new potential exposures and tailor an insurance portfolio to fit the needs of your new organization.
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Insurance Archaeology
Sigma will work with you to document your past and present insurance portfolio. This service can include recordation of your current insurance policies and applicable terms, coverage endorsements and exclusions providing documentation and verification of coverage in the event of future alleged liability.
We will also work with you to research, reconstruct and analyze historical insurance policies and coverage terms specific to the insurance coverage types available to your firm in the past. This can allow you to fully understand your insurance portfolio and coverage over a period of time.
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