riskpro insurance services ver5
DESCRIPTION
In continuation of our fast growing presence and business trajectory, I would like to welcome you and share towards launch of RiskPro Insurance Risk advisory Services which is an addition to our existing bouquet of Risk advisory , Consulting, Training & Human Capital Services to corporates across India currently being serviced through our multi location delivery locations in major metros with total presence in 11 Indian cities network already. Our dedicated experts team who are qualified seasoned professionals in Insurance industry across diverse business domains with right blend of optimal solutions for high performance business results. Insurance business , like any other industry has evolved with new business models, government and regulatory changes, increased market players and de-regulation which has impacted functioning of major insurance players (General, Life)to generate business and also adhere to compliances imposed by governing authorities within volatile global paradigm, which necessitates the need for prudent risk management framework in Insurance businesses. Riskpro with its precise risk-reward approach is your ideal partner in de-risking of your insurance business operating model with risk management value proposition for a long-lasting embedded tenet in your business DNA.TRANSCRIPT
1
Risk Consulting & Advisory Services
Insurance Sector
RiskPro India Ventures (P) LimitedNew Delhi, Mumbai, Bangalore
2
Who is Riskpro… Why us?
ABOUT US Riskpro is an organisation of member firms
around India devoted to client service excellence. Member firms offer wide range of services in the field of risk management.
Currently it has offices in three major cities Mumbai, Delhi and Bangalore and alliances in other cities.
Managed by experienced professionals with experiences spanning various industries.
MISSION
Provide integrated risk management consulting services to mid-large sized corporate /financial institutions in India
Be the preferred service provider for complete Governance, Risk and Compliance (GRC) solutions.
VALUE PROPOSITION You get quality advisory, normally delivered
by large consulting firms, at fee levels charged by independent & small firms
High quality deliverables
Multi-skilled & multi-disciplined organisation.
Timely completion of any task
Affordable alternative to large firms
DIFFERENTIATORS
Risk Management is our main focus
Over 200 years of cumulative experience
Hybrid Delivery model
Ability to take on large and complex projects due to delivery capabilities
We Hold hands, not shake hands.
3
Risk Management Advisory Services
Training Recruitment
Basel II/III Advisory Market Risk
Credit Risk
Operational Risk
ICAAP
Corporate Risks Enterprise Risk Assessment
Fraud Risk
Risk based Internal Audit
Operations Risk
Forensic services
Information Security IS Audit
Information Security
IT Assurance
IT Governance
Operational Risk Process reviews
Policy/ Process Review
Process Improvement
Compliance Risk
Insurance Risk
Governance Corporate Governance
Business Strategic risk
Fraud Risk
Forensic Accounting
Other Risks Business/Strategic Risk
Reputation Risk
Outsourcing Risk
Contractual Risk
Banking – E Learning
Corporate Training
Regular Risk Management Training
Online Training material
Workshops / Events
Virtual Risk Managers
Full Time Risk Professionals
Part time Risk Professionals
Risk Managers on call – free
S E
R V
I C
E S
4
Insurance Industry Prologue…
Insurance industry has seen numerous changes in recent past with increased
players, products mode of distribution, regulatory changes, technological
improvements with a moderate healthy growth.
Key stakeholders in insurance industry include- insurers, corporates, brokers,
TPA’s and surveyor’s who run the entire cycle of acquisition to settlement
process of clients.
Key risks arising in today's fast-paced, ever-evolving world will have to be
managed through effective risk management in insurance solutions to clients.
Emerging challenges continue to impact insurance industry in form of De-
regulation, Global markets impact, Self insurance need & Market driven
pricing.
How we Do
5
Insurance Risk Management Services – Generic Offerings
Value Proposition
•Risk
Inspection
•Risk Reporting •Industry
Benchmarking
•Insurance
Manuals
•Training services-
Processes/ Claims
handling
•Due Diligence –
Current
Insurances
•Risk
Evaluation
•Risk Audits-
Coverage/Exclusions/
covenants
•Indemnity
Advisory and
Renewals
•Valuation of
Capital
Assets for
loss coverage
•Claims Management as
per T&C valuation/ liaison
with surveyors for quicker
disbursement
•Insurance
Market trends/
Regulatory
compliances-
IRDA, ICDR,
SEBI.
‘We at Riskpro help cover
entire spectrum of
insurance risk management
solutions for your
organization’ !
Riskpro
Service Offerings
6*This presentation and its contents in part or whole should not be copied or distributed to anyone.
Insurance Risk Advisory Services
7
Focus areas for Insurance Risk advisory services
Identification of Internal & External Pure Risks
Existing Risk Control Measures Review
Risk inspection
Risk Audit
Scrutiny of Existing Insurance Covers
Coverage
Rates & Deductibles
(Compulsory self insurance)
Defining Standard SOP for Claims Control
Guidelines on documentation
How we Do
Traditional
Risk
Management
ALM
Cash flow
testing
Dynamic
Financial
Analysis
Traditional
Risk
Management
ALM
Cash flow
testing
ERM &
Economic
Capital
Insurance Industry Continues to Respond to Risk Dynamics
Ris
k
Time
8
Key Industry Risks Focus Areas… How we Do
9
Key Risks Services Overview
•Risk Survey &
Analysis through
documentary review
•Operations Risk
management-
Employees/Contractual
parties/Third parties
•Product launch
risks analysis
•Non fulfillment of
contractual
obligations &
recourse
How we Do
•Employee Benefit
Risk impact
•Workplace risk
analysis
•Expatriate risk
•Personal accident
coverage
•Regulatory changes
& Impact
•Investing in Risk
management
•Loss control for
Credit Risk
• Actuarial Risk •Systematic Risk of
Liabilities
•ALM- Liquidity Risk
•Accidental damage
evaluation
•Insured perils
inclusion
•Policy coverage
advisory for
premises / F&F
•Sum insured
calculation
•Claims processing
and FSR
10
Risk Category Solutions…1/4
Employee Benefits Insurance
Group Health Benefits
Group Accidental Benefits
Life Insurance Benefits
Retirement Benefits
Value Proposition
Portfolio Analysis Program Analysis Plan implementation
•Evaluation and
assessment of cover
over premium spends
•Optimize the benefits
program with
established
benchmarks
•Endorsement
tracking & Monthly
Data Reconciliation
•Comprehensive
analysis for
competitiveness and
cost-benefit
•Cost optimization
through vendor
relationship and
volumes handled
•Claims Advisory,
Control and
Management
•Review of prior claim
and losses to identify
trends & issues
•Optimizing
administrative time
and workload
•Monthly report card
benchmarking
performance against
SLA
•Funding Alternatives
Analysis
•Optimizing
communication
How we Do
11
Liability Insurance
Commercial General liability
Product liability
Public liability
Retirement Benefits
Value Proposition
Risk Assessment
& Claims
Risk Presentation &
Administration
Plan Design
•Exposure
identification
•Information gathering
for underwriter’s
•Coverage
Design
•Risk retention
advisory
•Presentation of risk
to market
•Peer
benchmarking
• Claims
management
•Negotiating with
insurer’s for optimum
coverage/ price
•Monthly report
card
benchmarking
performance
against SLA
• Assistance in
claims
documentation
•Policy structuring for
right pricing
Employment practices liability
Public offerings of securities
How we DoRisk Category Solutions…2/4
12
Project Insurance
Contract Risk Management
Peer Benchmarking
Underwriting to reinsurers
Strategic Claims
Value Proposition
•Contractual
Obligations
•Contractual risk
flows
•Competitive
stress
•Technological
Development
•Regulatory
requirements
•Risk presentation
to credit analysts
•Insurer /
Reinsurer carrier
selection
•Insurance
advisory
•Claims Advisory,
Control and
Management
How we DoRisk Category Solutions…3/4
13
Claims Handling Services Value Proposition
•Claims resolution •Loss assessment •Documentation and support for right
compensation
•Compelling presentation of client’s
claims
•Client on-site support as solution
provider
• Best overall value for quick and
capable claims cycle management
• Understanding existing processes,
philosophies, service needs and
challenges in Claims handling
• Notification of all Claims and Claim
circumstances to the appropriate
insurers
•Coordination and guidance in
submission of all Claims related
documents
•Management of complex claims •Consultation and advice on coverage
questions prior to Claim notification and
issues likely to arise post Claim
notification
•Assistance in Claim settlement
negotiation
• Maintaining Claim records • Producing Claim reports and analysis
as required
• Providing Claims review meetings on
regular basis
• Creating efficient, effective, and pro-
active strategies to reduce Claim costs
and mitigate exposures
How we DoRisk Category Solutions…4/4
14
How we DoInsurance Claims Management Process
Follow up with Insurance
firm for claim settlement
Insurance Firm
Surveyor ClientRiskpro
- Interaction with surveyor for
a) Survey of Loss
b) Assessment of loss
c) Finalization of report
d) Early issuance of report to
Insurance Company
-Assisting client in registering
claim with Insurance Company
- Collection of loss details to
organize insurance Survey
- Preparation of claim papers once
survey is over
15*This presentation and its contents in part or whole should not be copied or distributed to anyone.
Insurance Broking Services
16
How we Do
Saving’s Plan Term Insurance PlanMortgage redemption
Plan
Hire Purchase Risk cover
Plan
Keyman Insurance cover
to HNI’s
Supplementary Executive
Retirement Plan
Rider & Claim Settlement
Advisory
Group term insurance for
employees
Group Gratuity Schemes
/Deposit linked Plans
Group superannuation
Benefits
Composite Insurance Broking Services- Individuals & Corporates
Functional Definition : An insurance broker ( or agent) sells, solicits or negotiates insurance
for its clients with a compensation percentage. Riskpro offers a wide spectrum of broking
services covering your enterprise needs with optimal risk solutions & advisory.
17
How we DoInsurance Risk Training – We Address your FAQ’s
What is Insurance product and what is suitable for me.
What extent of insurance cover I should take depending on potential loss event and risk
exposure.
How to negotiate Insurance claim for total Loss claim.
Scrutiny of major insurance policies for applicable premium, any relevant discounts,
warranties, clauses and conditions.
Guidelines advisory for fixing sum insured.
Evaluation of business interruption exposure due to known risks.
Guidelines for documentation fulfillment , procedures for claims under policies.
What are different payment options for my insurance policy.
Life insurance regulations for NRI’s.
Policy servicing- Nomination procedure
18
How we DoInsurance Training - Areas & Services
Introduction/Concepts
Reinsurance & Various
Risks Management
training
Underwriting business
workflows
Types of Insurance
Plans for customer
segments
Regulatory Framework
and CompliancesPolicy servicing
Claims managementInsurance portfolio
management services
Risk Management &
Monitoring
Designing Business
strategic insurance
programs
Riskpro offers unparallel array of insurance training services by our industry experts
team with decades of experience combined with deep insight of insurance business
model and needs of staff training as per changing market, regulatory, customer life-
cycle aspects.
19
Riskpro Clients Our Clients
*Any trademarks or logos used throughout this presentation are the property of their
respective owners
20
Team Experiences Our Experiences
*Any trademarks or logos used throughout this presentation are the property of
their respective owners
Our team members have worked at world class Companies
21
Team Experiences - Insurance Sector Our Experiences
*Any trademarks or logos used throughout this presentation are the property of
their respective owners
Our team members have worked at world class Companies
22
RESUMES – Our Team
Co-Founder - Riskpro
CA, CPA, MBA-Finance (USA), FRM (GARP)
Over 10 years international experience – 6 years in Bahrain and 4 years USA
15 years exp in risk management consulting and internal audits, Specialization in Operational Risk, Basel II, Sox and Control design
Worked for Ernst & Young (Bahrain), Arab Investment Company (Bahrain), Navigant Consulting(USA), Kotak Mahindra Bank (India) and Credit Suisse(India)
Sox Compliance project for Fannie Mae, USA ( $900+ Billion Mortgage Company)
Ma
no
j Jain
Co- Founder - Riskpro
CA (India), MBA (Netherlands), CIA (USA)
Over 15 years of extensive internal and external audit experience in India and abroad.
Worked with KPMG United Arab Emirates, PKF South Africa, Ernst and Young Kuwait, Deloitte Netherlands and KPMG India.
Worked with clients in a wide variety of industries and countries including trading, retail and consumer goods, NGO, manufacturing and banking and finance. Major clients include banks, investment companies, manufacturing organizations, aviation etc.
Rah
ul B
ha
nCredentials
23
RESUMES - Our team
Co-Founder - Riskpro
PGD (Electrical & Electronics & Computer Programming)
30 years of experience in Information & Communications Technology (ICT) Solutions for Retail, Garments, Manufacturing, Services Industries.
Has created Companies, Divisions, Products, Brands, Teams & Markets.
Consulting in Business, Technology, Marketing & Sales & Strategic Planning.
Advisory, Training, Workshops & Implementation in Systems Thinking, Systems Modeling & Balanced Scorecard
Worked with TIFR, Mahindra, Ambience, Communico-Graphique & Ionidea Inc, USA,
Casp
er A
bra
ha
mCredentials
Vice President – Risk Management
MBA, PDFM, NSE-NCFM, PMP, CSSGB,Trained ISO 9001:2000 I.A,GARP-FBR, ITIL
Professional with 17 years of rich experience into diverse Consumer finance/ Lending operations ,Risk Management,BPMS, Consumer Banking, NBFC, Management Consulting & Housing finance in BFSI industry having successfully led key business strategic engagements across multi-product environment in APAC, Australia and US regions.
Worked with GE, ABN AMRO Bank, Citigroup, Accenture, Deutsche Postbank
Highly skilled and expert Trainer in Risk areas across Fraud, Credit, Operational, Corporate Risk management, GRC.
Specializes in Fraud Control, Compliance QA ,ERM and Regulatory governance.
Hem
an
t S
eig
ell
24
RESUMES - Our team
Head - Insurance Risk Advisory services
B.sc, Associate of Indian Institute of Insurance
Licensed Category A Insurance surveyor
26 years of experience in Insurance advisory services, Loss adjusting for large corporates,Claims management.
Has assessed more than 4500 high value insurance claims across various industry sectors.
Risk management inspection
Valuations of fixed assets for insurance purpose.
R. G
up
taCredentials
Head - Human Capital Management
Chartered Accountant, Lead Assessor ISO 9000, Six Sigma Trained, Trained on Situational
Leadership, Trained on interviewing skills and Whole Message Model.
Over two decades of international, multi-cultural experience in finance and human resourcesviz. internal audit, accounting operations, accounting process review & re-designing, riskmanagement, business solutioning, six sigma projects, talent acquisition, talent retention,organization design/redesigning, compensation and appraisal processing, employee andcustomer satisfaction surveys, knowledge management and finance services.
Worked with Citicorp/MGF, India Glycol, Delphi, American Express India, American ExpressUSA, Fidelity International and Macquarie Global Finance Services India.
Nile
sh
Bh
atia
25
Our team
Co-founder- Riskpro
B.Com, FCA
Senior Partner with 48 year old Delhi based Chartered Accountant firm, Mehrotra and Mehrotra
Over 19 years of experience in the field of Audit, Taxation, Company law matters.
Major clients served are NTPC, BHEL, Bank of India, PNB, Airport Authority of India etc.
Raje
sh
Jha
lan
iCredentials
Specialist Risk Consultant – ERP & IT Compliance
SAP Certified, MBA (Finance), SAP Security trained (from SAP India), SAP GRC Access Controls trained (from SAP India)
Over 7 years of experience working in the area of ERP/IT Risk advisory, primarily focusing on SAP, for ‘Fortune 500’ clients in around 8 countries including US, UK, UAE, Hong Kong, etc
Specializes in SAP Risk & Controls Advisory, SAP Business Process Controls Audit, SAP Security & Segregation of Duties Control Audit, ERP Trainings,
Strong Industry experiences ranging from Beverages, Insurance, Energy, FMCG, Pharmaceutical, Retail, Telecommunication to IT Services
Worked for risk advisory teams of reputed organizations like Ernst & Young, EXL Services
Go
ura
v L
ad
ha
26
Key Contacts and Locations (India)
Corporate Mumbai Delhi Bangalore
Riskpro India
Ventures (P) Limited
www.riskpro.in
C 561, Defence Colony
New Delhi 110024
Manoj JainDirector
M- 98337 67114
Shriram GoktePrincipal - Information Risk
M- 98209 94063
Rahul BhanDirector
M- 99680 05042
Hemant SeigellVP – Risk Management
M- 99536 97905
Casper AbrahamDirector
M- 98450 61870
Ahmedabad Pune Agra Gurgaon
Maulik ManakiwalaAssociate Firm
M - 91 98256 40046
Gourav LadhaSap Risk Advisory
M- 97129 52955
M.L. JainPrincipal – Strategy Risk
M- 98220 11987
Alok Kumar AgarwalAssociate Firm
M- 99971 65253
Nilesh BhatiaHead – Human Capital
M- 98182 93434
Salem Ghaziabad
ChandrasekaranRecruitment Franchisee
M - 91 9443 599132
R GuptaHead – Insurance Risk
M- 98101 07387
Copyright- © 2012 RiskPro ,India .All rights reserved.