Evaluating risk, risk exposure, the adequacy (or inadequacy) of risk controls and, finally, developing a plan for insurance that optimizes your risk/reward tradeoff. And the answer to all of that? Lockton. Our independent ownership gives our people the freedom to move beyond traditional insurance transactions and work nimbly to develop a deeper understanding of your objectives, exposures, and financial priorities. We put a focus on helping you make sense of your risk by developing risk management solutions based on actionable insights to inform program structure, improve market alignment and guide your risk control efforts.
Assess – then control
The key to managing risk is identifying it. And the key to identification is assessment: Evaluating risk, risk exposure, the adequacy (or inadequacy) of risk controls and, finally, developing a plan for insurance that optimizes your risk/reward tradeoff. And the answer to all of that? Lockton.
Our independent ownership gives our people the freedom to move beyond traditional insurance transactions and work nimbly to develop a deeper understanding of your objectives, exposures, and financial priorities. We put a focus on helping you make sense of your risk by developing risk management solutions based on actionable insights to inform program structure, improve market alignment and guide your risk control efforts.
How does a risk assessment benefit your business?
Understanding your risk exposure is vitally important in preparing for potential losses and crisis scenarios your organization will face. Lockton’s risk assessment protocols and strategies help improve your business make more effective decisions by identifying potential threats and vulnerabilities, minimizing disruptions to operations, protecting your reputation, and reducing financial losses.
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Assessment FAQs
What is the benefit of risk assessment?
Natural catastrophes, “nuclear verdicts,” third-party litigation financing, anti-corporate bias, liberal certification of class actions, ransomware events, D&O litigation, and more have fueled a sharp rise in loss severity across virtually every line of coverage. Against this backdrop, an effective program structure is more important than ever for providing risk control and enterprise risk management.
Lockton helps clients measure and manage risk and achieve capital optimization while reducing variable costs and improving operational efficiency, all aimed at giving you improved decision-making capabilities.
How is Lockton's approach to assessment unique?
First and foremost, analytics are at the heart of everything we do. Our analysts work side-by-side with our brokers, loss control, and insurance claims consulting professionals to ensure that all have access to the same information and are communicating with one another. This unique combination leverages decades of specialized expertise and brings together multiple perspectives to help clients correctly identify issues and work through the most challenging problems.
Almost as important is advocacy: Lockton analysts get to know your businesses and take the time to fully understand relevant trends and opportunities. They also engage with counterparts in the carrier community to ensure a common understanding of your risk and analyze alternative program structures like captive insurance, structured risk solutions, parametric insurance, and alternative collateral solutions. This step is critical to influencing the underwriting process and an area where Lockton truly stands apart.
Why Lockton?
Lockton is privately owned, which allows teams to prioritize client business. Our Associates are empowered to go above and beyond to help their clients succeed and the entrepreneurial culture at Lockton fosters data-driven solutions, solving problems faster and more efficiently. By providing commercial property insurance, marine insurance, trade credit insurance, environmental liability insurance, aviation risk management, war risk insurance and more, Lockton is uniquely poised and highly qualified to help you achieve your goals while minimizing and mitigating risk exposures.
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