Business Continuity and Risk Management

Integrating Insurance and Risk Management

We take a different approach to commercial insurance. We believe that time needs to be spent with your client assessing the risks that their business faces.

 

Our UK wide team of experienced risk control surveyors work with insurance brokers and clients to help understand their exposures and find the most practical and cost effective way of managing them.

 

This can help to eliminate claims, lead to lower premiums and produce a more efficient, safer workplace. Traditional insurance cover has a role to play but so do improved health and safety and loss reduction initiatives.

 

Risks Businesses Face Everyday

All businesses are faced with a variety of risks that may threaten the existence of the organisation. Some risks, such as fire, explosion or flood are very obvious; others such as damaged reputation, fraud or data loss are maybe less obvious.

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Adoption of risk management can help businesses mitigate and reduce potential threats and facilitate a strong response to incidents should they occur. This is recognised by Fusion where we believe that insurance should simply be part of an organisation’s overall risk management strategy and complement a proactive approach to controlling risk. We are unique in finding a range of risk management tools to our policy holders to support implementation of this more holistic approach.

 

The Fusion Approach to Risk Management

Risk Management is a term used ever increasingly in the business world and can cover a diverse range of disciplines such as Health & Safety, Financial Control, Continuity Planning and Corporate Governance. Risk Management is gradually becoming recognised as a fundamental element of managing a business and protecting all the stakeholders in that organisation.

 

As with some other aspects of modern business, Risk Management can be perceived as complicated, bureaucratic and time consuming, with the situation potentially worsened by the involvement of external consultancies with an inherent interest in over developing the technicalities of the process.

 

However, Risk Management is founded on common sense and so, in practical terms, should be easy to implement. In a business environment it is important that this is structured in a formal manner to ensure that it's maintained and develops with the organisation. The objective should be for Risk Management to be an integral part of all business operations with consequent benefits to improve efficiency and profitability, lower staff turnover, stronger reputation and increased protection of assets and stakeholders.

 

Fusion Thinking provides a suite of business systems to do just that, contact us on 0800 0949 300 or email info@fusion-thinking.co.uk to find out more.

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