Risk Management Consulting Service

Because your exposures and tolerance for risk are unique to your business, devising an effective risk-management strategy can be challenging. Our consultants will work with you to help you identify and understand your risk-management issues — and devise and implement a strategy for addressing those issues. Our consultants’ experience and expertise complement and supplement your in-house capabilities.

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ISO offers an extensive range of risk-management and actuarial consulting services:

Financial design support and validation

To help you make the most informed decisions, ISO's risk-management consultants can evaluate — based on an analysis of historical data — your risk exposure and the costs and benefits of different retention levels and limits.

ISO's consultants will provide information to help you evaluate various risk-retention levels and decide which is most appropriate. You can use our analysis as a framework to set your risk-management budgets, goals, and objectives.

And ISO's analysis can help you support the costs and benefits of the risk-management initiatives you're proposing to your organization.

Actuarial Consulting Service

When you need help with benchmarking, data, and analysis of loss statistics, ISO's actuarial consultants are here to help. ISO maintains a world-class actuarial staff, with more than 200 professionals — including more than 50 members of the Casualty Actuarial Society. And ISO has more experience than any other organization in analyzing and projecting claim costs.

When you use ISO's Actuarial Consulting Service, you draw on that rich experience — and on the world's largest collection of insurance information. You can rely on ISO's actuaries for any analytical or benchmarking project.

Claims-administration review

Whether you've been handling the administration and payment of claims internally or using a third-party administrator (TPA), evaluating your current system can be revealing. Such reviews can help determine:

  • if your current approach is the most cost-effective and productive way to expend resources
  • whether or not your current approach addresses fraud appropriately
  • if salvage and subrogation recoveries are reasonable

ISO's consultants can help you decide which approaches to claims administration make the most sense for your company. And if you're now using a TPA, we can review your contract fees, terms, and conditions. We can also audit the claims file for adherence to those terms and conditions.

Review of internal cost allocation and chargebacks

Is your current cost-allocation and chargeback system properly allocating the costs of insurance and self-insurance among your profit centers? ISO's actuarial consultants can assess your current methods or devise new methods for allocating the cost of risk to your organizational units and ensure those methods are consistent with your organization's management philosophy.

ISO can also help you set up a cost-allocation plan that better measures the performance of your profit centers and creates financial incentives for those centers to lower costs. And ISO can assist captives in determining assessments or dividends.

Assessment of claim-reserve adequacy and projected funding levels

Estimating the cost of claims and related expenses that you will ultimately pay is a complicated process. You need to make sure your balance sheet properly reflects your self-insured losses. You don't want to be caught short, but you can’t afford to have capital sitting idle. ISO's actuarial consultants can help you assess the adequacy of your claim reserve and projected funding levels.

There’s more

This is by no means an exhaustive list of our services. With access to ISO's extensive resources and comprehensive databases, our consultants can provide services in any area critical to successful risk management.

For more information . . .
. . . or to discuss how ISO can help you, please contact Robert Schneider at 1-800-888-4476, option 1, extension 2455. Or send e-mail to This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .