Insurance
Meaningful financial support systems to provide protection.
Our broad market knowledge and expertise enables the firm to provide insurance solutions for crop and animal disease risk with access to the global reinsurance network.
Product Development
Agree risks to be insured, coverage options, compensation payable and producer retention levels.
Data Collection
Identify, collect and collate all relevant producer and industry and historical loss requirements for exposure modelling / premium calculation purposes.
Risk Assessment
Reviews on site and protocols regarding biosecurity on all insured premises, including details of any internal or external biosecurity audits.
Response Procedures
Review industry and government procedures for managing an incursion or event.
Modelling & Actuarial Analysis
Identify and agree parameters, based on targeted risks to be insured. Input to model, along with the core data set, based on agreed scenarios.
Underwriting & Rating
Review and collate all relevant data including the outputs from the modelling process. Populate and run the underwriting model and work with analysts to develop indicative pricing.
Client Consultation
Present pricing for review and input. Further product enhancement and proceed to risk carrier options.
Delivery Options
A solution will be dependent on the support the firm obtains through the international insurance and reinsurance market, who will be involved throughout the project.
Involving markets from the outset helps to scope and design a product that responds to the needs of each client.
More importantly, it significantly improves the likelihood of obtaining insurance or reinsurance capacity.