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Simplifying risk management for SMEs

At a glance

  • Zurich’s innovative risk insight portal provides small businesses with targeted solutions to help them manage the key risks they face
  • Free to use for brokers and Zurich SME customers
  • Taps into Zurich’s historic claims data to share the lessons learned

UPDATED January 2018

More often than not, small businesses are bombarded with generic risk management literature that can leave many busy SMEs overwhelmed, confused and not knowing where to turn next.

That’s why Zurich has launched its virtual consulting risk management resource. This portal offers SMEs access to simple, targeted risk management guidance that is relevant to their industry sector and the lines of business that they have insured with Zurich – all in one, easy-to-navigate solution.

“Virtual Consulting is a real embodiment of our expertise and insight, made available to our customers and brokers in a very accessible way,” says Richard Coleman, interim Managing Director and Director of SME at Zurich. “It’s a core part of our transformed SME offering, where we have sought to blend efficiency and expertise across the proposition.”

Using Zurich’s own historic claims data, Virtual Consulting gives an SME as much, or as little, risk management information as they need.

“Virtual Consulting provides individual SMEs with the typical causes of loss for their particular business sector, as well as practical loss control guidance in easy-to-understand, bullet point formats,” says Darren Smith, Principal Risk Analyst at Zurich Risk Engineering UK.

“And, of course, SMEs can also delve deeper into each cause of loss and can easily access more detailed risk management content that is relevant to them. If they need to speak to someone about a particular issue, Virtual Consulting is supported by our Risk Management Advice Line (0345 301 2784). ”

Wealth of risk management advice

Virtual Consulting holds a wealth of risk management advice and guidance in a variety of formats. For example, case studies detail losses suffered by Zurich customers and give practical tips on prevention. More detailed guidance can be found in Virtual Consulting’s Risk Topics. They cover a range of property, casualty and motor subjects, such as ‘slips and trips’ or security for commercial premises.

Finally, Virtual Consulting provides more usable tools for SMEs in the form of Risk Solutions that allow customers to better understand or mitigate risks.

“For instance, our Interactive Driving Systems tool allows customers to individually assess their driving capabilities,” says Graham Brazier, Principal Risk Analyst at Zurich Risk Engineering UK.

“The outcomes are specific to that customer, and more importantly are not shared with anyone else or linked to any underwriting system. The results are purely for a customer’s own use.”

For an SME looking to manage risks within their business, Virtual Consulting contains a wealth of resources, tools and guidance using data based on analysis of the frequency and severity of claims across the whole of Zurich’s general insurance business.

“We know SMEs need risk management advice as much as a multinational corporation,” adds Graham. “And we are very much aware that within an SME, it could be just one person taking on all of the risk management duties. Many simply won’t have the time for extensive research, and this is one of the reasons why we have made Virtual Consulting so easy to use.”

Broker access

Brokers, too, can readily access the exclusive resources housed in Virtual Consulting.

“It gives brokers the tools and information to shine in front of their customers,” says Graham. “With a couple of clicks, a broker can highlight risk management issues across 16 industry sectors and four lines of business – employers’ liability, public liability, property and motor. The tool also gives brokers the chance to cross-sell and up-sell more business.”

To login, simply use the username of ‘brokervc’ and the effective date of 01/01/2018.

Image © Getty

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