“The other 80%.”We have found a problem in the Insurance Agency system. It is that traditional Agencies focus almost all of their time on insurance. The Deland, Gibson Risk Consulting group (DGRC) grew from the need to look at ways to help families and organizations lower their risk in ways other than insurance. There are 5 ways to manage risk: Mitigate, Prevent, Transfer, Assume and Finance (Insurance) four are neglected. This is the other 80% of risk management.”
Total Cost of Risk:Premiums, Risk Management Fees, Retained Losses, Administrative Costs, and Indirect Costs.
For You & Your Family:Personal and Family Risk
For Your Business:
Workforce Risk:Employees are a company’s biggest asset. Not having an engaged, healthy, and motivated employee base can be one ofthe biggest inhibitors of profitability.
Strategic Risk:Threats to the value of the organization.
Hazard Risk:Threats of direct physical loss.
Business Risk:Operational risk including policies, procedures, compliance and more.
COMPLETE RISK CONSULTING PROCESS: FROM DISCOVERY TO REDUCTION
The Other 80% is a process that identifies organizes and addresses risk. The first step in the process is to perform a Risk Discovery Clinic. This is a session where we analyze areas of a family or with companies, Business, Strategic, Hazard and Workforce Risks are assessed.
The second step is a complete analysis of the risks where they are segmented into Low Medium and High Risk. The most volatile and impactful risks are then focused on when creating a Risk Reduction Plan.
The Third step is the DGRC team works with the client to set up an implementation schedule where over the next 12 months the Plan is implemented and monitored before another Risk Discovery Clinic is performed.
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Comprehensive risk assessment techniques are essential for identifying potential threats that may impact individuals and organizations. These techniques involve a systematic approach to evaluating risks by examining the likelihood and potential impact of various risk factors, including operational, financial, and strategic risks.
For example, utilizing tools such as risk matrices and SWOT analysis can help stakeholders visualize and prioritize risks effectively. By applying these techniques, clients can gain a clearer understanding of their risk landscape and make informed decisions to mitigate potential threats.
Customized Risk Reduction Plans
Customized risk reduction plans are tailored strategies designed to address the unique risk profiles of clients. These plans are developed following a thorough risk assessment and are aimed at minimizing vulnerabilities while maximizing resources to handle potential risks effectively.
For instance, a customized plan for a manufacturing company may include enhanced safety protocols, employee training programs, and regular compliance audits. By focusing on specific needs, Deland, Gibson Risk Consulting ensures that clients receive personalized solutions that align with their operational goals.
Benefits of Proactive Risk Management
Proactive risk management offers numerous benefits, including enhanced decision-making, improved resource allocation, and increased organizational resilience. By anticipating potential risks and implementing strategies to address them, businesses can avoid costly disruptions and maintain operational continuity.
For example, organizations that adopt a proactive approach often experience fewer incidents and reduced insurance costs, as they are better prepared to handle emergencies. This forward-thinking mindset not only protects assets but also fosters a culture of safety and accountability within the organization.
Engaging Stakeholders in Risk Management
Engaging stakeholders in the risk management process is crucial for fostering a culture of awareness and collaboration. By involving employees, clients, and partners, organizations can gather diverse perspectives and insights that contribute to a more comprehensive understanding of risks.
For instance, conducting workshops and training sessions can empower stakeholders to identify risks within their areas of responsibility. This collaborative effort not only enhances the effectiveness of risk management strategies but also promotes shared accountability across the organization.
Comprehensive risk assessment techniques are essential for identifying potential threats that may impact individuals and organizations. These techniques involve a systematic approach to evaluating risks by examining the likelihood and potential impact of various risk factors, including operational, financial, and strategic risks.
For example, utilizing tools such as risk matrices and SWOT analysis can help stakeholders visualize and prioritize risks effectively. By applying these techniques, clients can gain a clearer understanding of their risk landscape and make informed decisions to mitigate potential threats.
Customized Risk Reduction Plans
Customized risk reduction plans are tailored strategies designed to address the unique risk profiles of clients. These plans are developed following a thorough risk assessment and are aimed at minimizing vulnerabilities while maximizing resources to handle potential risks effectively.
For instance, a customized plan for a manufacturing company may include enhanced safety protocols, employee training programs, and regular compliance audits. By focusing on specific needs, Deland, Gibson Risk Consulting ensures that clients receive personalized solutions that align with their operational goals.
Benefits of Proactive Risk Management
Proactive risk management offers numerous benefits, including enhanced decision-making, improved resource allocation, and increased organizational resilience. By anticipating potential risks and implementing strategies to address them, businesses can avoid costly disruptions and maintain operational continuity.
For example, organizations that adopt a proactive approach often experience fewer incidents and reduced insurance costs, as they are better prepared to handle emergencies. This forward-thinking mindset not only protects assets but also fosters a culture of safety and accountability within the organization.
Engaging Stakeholders in Risk Management
Engaging stakeholders in the risk management process is crucial for fostering a culture of awareness and collaboration. By involving employees, clients, and partners, organizations can gather diverse perspectives and insights that contribute to a more comprehensive understanding of risks.
For instance, conducting workshops and training sessions can empower stakeholders to identify risks within their areas of responsibility. This collaborative effort not only enhances the effectiveness of risk management strategies but also promotes shared accountability across the organization.
