- Operate independently of any vendors, brokers, or insurers.
- Provide a cost-effective business model and methods.
- Use knowledgeable, technology-based approaches to data collection and analysis.
- Employ knowledge of regulatory, legal and financial issues affecting risk management decision-making.
- Develop client partnerships based on superior service and attention to detail.
The SIR Team brings smart solutions for risk managers concerned about loss control, actuarial estimation, cost allocation and scorecarding. We accompany our clients throughout each project, from needs analysis through successful implementation.
RMIS/TECHNOLOGY SERVICES
The SIR Team will select and design, implement and improve your RMIS.
The path from design to selection, implementation and operation is often unmarked, with hazards at every turn. Vendor demos don’t always translate into reality; programs rarely perform as expected. Information is even more crucial to risk management today and the stakes are huge. The job of the risk manager is more complex than ever, with smaller staff, more priorities and a more complicated decision-making process. The SIR team focuses on using what you have more effectively, without requiring additional software.
Shelter Island Risk Services is the solution. We obtain more value from current system investments, helping to define and tailor RMIS needs for the best possible fit.
We can understand your needs, generate the RFP, evaluate responses, negotiate contracts, monitor implementation and support ongoing operations. The SIR experts will be part of the team – helping you, your staff and your organization.
SCORECARDS AND ANALYTICS
Benchmarking and scorecarding that focus on outcomes rather than process.
With the SIR approach to benchmarking through statistical methods and data mining, we can identify critical deviations and drill into root causes of loss.
SIR can demonstrate how to feature cost reduction initiatives, identify areas for improvement and help create concise and informative presentations for leadership teams and senior executives.
RISK FINANCE AND INSURANCE
Analyze, test and target areas for enhancement; improve your claims and risk management systems, cost allocation, data maintenance and reporting.
The SIR team are the experts in moving information from where it originates to where it is needed most. We can improve claims and risk management systems, enhance cost allocations, data maintenance and reporting.
Who benefits from SIR expertise?
- Actuaries, given their need for loss development triangles that are accurate and timely.
- Brokers, requiring computer simulations of alternative retention levels or aggregate stop losses.
- Captives, with the need for the estimation of cash flows to drive their investment choices.
SIR can assist with planning and cost allocation processes, as well create cash flow projections for alternative risk finance and insurance programs.
