Underwriting

Extensive experience with both alternative risk and traditional structures allows us to guide customers through a comprehensive review of coverage language and underwriting practices.In addition, we continually monitor opportunities for new or enhanced coverages that would benefit program customers. We understand that customized policy coverage based on the unique needs of members results in higher renewal rates and a differentiated product in the marketplace.

Berkley Risk will develop and implement the appropriate rating mechanism, rates, premium modifiers, and other factors to confidently underwrite program policies. We will establish best practices to ensure program business is processed accordingly, this includes underwriting guidelines, rate manual, procedures manual, service guidelines and policy issuance and invoicing.

Claims Management

We apply our proven best-practices to your business requirements to ensure a claims solution that reduces overall claims expense.

Our seasoned claim professionals work closely with you to customize program protocols that maximize cost efficiency while managing losses and expenses in order to ensure total loss costs are minimized. In this way each of our customers get the benefit of a large scale organization with the personal communication and commitment of a small team dedicated to achieving each customer’s individual claims goals.

We manage workers’ compensation, liability and property claim programs for self-insured entities, alternative market programs, agent/broker programs and insurance companies.

Claims services include intake, investigation, reserving, claim management, claim payment processing, litigation management and reporting. Depending on your program needs, we can seamlessly apply medical cost containment tools and provide you on-demand access to your claim data via secure web portal.

Program Management

The history of Berkley Risk supported pools is evidence of our unique expertise and effectiveness in program management.

Our experience shows program leaders depend on key administrative governance, operational and strategic planning inputs for decision-making. We provide a sounding board for new ideas and guidance around best-practices for alternative market insurance operations and pooling.

Our trusted resources and time-tested operations have supported a wide variety of programs over the last 30 years. With our support, programs have evolved from small organizations with great vision to some of the greatest alternative market success stories.

We provide support for board meetings, strategic planning, business plan development, contract and vendor management support, technical expertise and systems in an integrated fashion with superior communication and outcomes.

Reinsurance

We work with each program’s leadership to define the best possible reinsurance or risk sharing strategy including identifying placement options, terms and conditions.

Well in advance of reinsurance renewal we gather the appropriate underwriting data and generate a submission to the reinsurance market. In addition, we monitor each program’s reinsurer experience as this is critical to the renewal process and maintaining reinsurer relationships.

All reinsurance terms and conditions are presented to program leadership for discussion and analysis of the impact on member deductible changes, changes in member rating bases, premium changes to specific accounts, reinsurance strategies, retention levels, and other underwriting opportunities that affect the program and its members.

Each of our programs benefit from our scale, experience and established relationships with the reinsurance market resulting in superior rates, terms and conditions.

Finance

We combine strong insurance accounting and finance services with a keen appreciation for the unique financial needs of alternative market operations.

Our strategic approach to financial oversight supports the development and implementation of short- and long-term financial and capital management strategies that align with all other program strategies.

Each customer program includes a package of core finance and accounting services based on their specific needs. Basic services include: cash processing, general accounting, banking, financial reporting, analysis, actuarial services and capital management.

In addition our accounting and finance staff supports each program’s strategic and business development goals with industry, peer and competitive financial analysis and review.

Technology

Our investment in Enterprise Applications, Web Portals and Data Analytics tools support efficient operations for our customers.

We fully support your day-to-day insurance operations with our enterprise underwriting and policy issuance, claims handling and accounting and financial management software applications. Each of these software packages can be customized, integrated and applied to your individual program’s needs.

We offer our clients custom web-portals or access to our web-based application in order to provide on-demand access to claims data including open and closed claims, current status, payments, adjuster file notes, dashboard reports and historical analysis including injury logs, claims by accident year and much more.

Our data analytics tools empower clients to gain a competitive advantage by creating actionable information.

Loss Control

Berkley Risk can take your loss control program to the next level with proactive, industry specific loss mitigation activities and data analysis.

We believe claims data analysis is the key to effective, proactive loss mitigation programs and policies. Berkley Risk has the experience and robust data systems to allow for custom loss analysis with benchmarking reports and easy online access. Our team uses data to spot trends, identify potential problem areas and point out opportunities to manage risks before losses are incurred.

Our commitment to loss control is support by dedicated staffing to each program’s loss analysis and mitigation effort. Or, if preferred, in some cases we provide oversight into loss control program development, training materials, member services, and related initiatives.

Marketing

To facilitate program growth Berkley Risk deploys local resources to support new business development and support member renewals.

Members are best served by continually evolving the program and insurance products into deliverables based on member needs. This evolution in products and services differentiates our programs in the marketplace from competing carriers.

With a unique product, member retention is improved. That’s why we invest in market research, including customer and competitive analysis, to create actionable information to build long-term strategies for each program. Proven tools are then deployed locally to build brand, implement the communications strategy and manage the distribution channel and sales process.

We can also provide a custom branded website with online transaction tools that differentiates your insurance program from competitive offerings while building lasting loyalty and community for current members.

Strategic Planning

Berkley Risk believes strongly in the value of strategic planning and a strategic approach to management of programs and pools.

We prefer to partner with organizations who value a strategic management approach because we know that strategic management is the foundation upon which successful operations are built.

Strategic management takes time and requires a quality partnership. Especially in these changing times, strategic initiatives transcend any single administrative services functional area.

The evaluation and thought process required to be successful must consider the whole of a program’s products and services, claim and loss experience, risk management techniques, underlying financial position, member relations issues, operational costs, structural and governance changes, and more. Our experience has shown time and time again that a long-view strategic approach results in satisfied members and a successful program.