Risk Management

 

Industry faces the incredible challenge of keeping up with an ever increasing / evolving business / legal environment and insurance market place.

The primary objective of Sapient Services is to help the clients to stay competitive by providing up to the minute information on important areas and issues.

Sapient Services addresses issues such as Enterprise Risk Management, operational risk management, project risk management, financial / credit risk management, equipment theft, earthquake risk management, construction safety, political risk, privacy, workplace violence etc.

Sapient Services risk managers help the clients in identifying the pure risk from the following factors.

  • Damage to and theft or expropriation of business assets
  • Legal liability for injuries to customers and other parties
  • Workplace injuries to employee
  • Obligations assumed by businesses under employee benefit plans. Pure risk frequently is managed in part by the purchase of insurance to finance losses and reduce risk.
  • Risk Management Involves

    • Identification of potential direct and indirect losses
    • Evaluation of their potential frequency and severity
    • Development and selection of methods for managing risk to maximize business value
    • Implementation of these methods
    • Ongoing monitoring

    Risk Identification

    The risk identification and source of hazard to which the client is exposed, estimation of the probability of size and no. of potential losses and identifying the pure risk and exploring various options of mitigating such financial losses by maximizing the value and minimizing the cost of risk.

    Risk identification involves indentifying the firm’s significant exposures to loss using checklists, reviewing the firm’s financial statements, and holding discussions with managers, employees, and outside consultants. Major loss exposures include:

    • Property-related losses, including direct damage to property and indirect losses from a loss of profits and continuing or extra expenses
    • Liability losses
    • Losses to human resources
    • Losses from external economic forces

    Sapient Services helps in effective strategic planning a process, which goes a long way in helping the organization to achieve their objectives and values and by identifying alternate risk and transfer to customized solutions that lie outside the realm of traditional insurance.

    The most important part of risk management exercise done by Sapient Services risk manager is the risk measurement of the enterprise by using various tools and analyzing the past experiences and future trends.

    Sapient Services help in implementing the recommendations of the risk managers in following the risk management plan / program.

    The risk analyst of sapient services are all qualified having vast experienced in implementing and risk assessment of various industries having more than two decades of experience.