Risk Profiling involves the identification and quantification of business risks. It is vital that a company’s risks are identified before any insurance program is proposed.
Willis CKA offers two levels of Risk Profiling:
(i) Operational Risk Profile – conducted by Willis CKA and concentrating on insurable risks. Willis CKA conduct workshops and produces a report that categorises your operational risks by Assets, Liabilities, People and Revenue.
(ii) Business Risk Profile – a full analysis of all business risks. This is performed in accordance with Australian and New Zealand Risk Management Standards and is performed by a specialist Risk Consultant engaged and managed by Willis CKA.
Once a Risk Profile of your company has been prepared then Willis CKA will advise on what risk management strategies can be used to mitigate unacceptable risks. Transferring risk to the insurance market is only one of a number of risk management strategies.