Summary
The article introduced the concept of a Risk Management Audit (RMA). This diagnostic customer acquisition assessment process would be focused on empowering organizations to identify, measure, prioritize and mitigate their exposures to loss. Instead of starting with the traditional "bidding process," The Addis Group offered a RMA system three to four months after the insurance renewal. The Addis Process was simple, yet revolutionary. It began with a curiosity and desire to understand the inner workings of a business. It was The Addis Group's goal to improve each client's risk profile before negotiating the insurance transaction. The RMA begins with an Action Plan, which spells out the objectives, standards and steps of the engagement. This Plan serves as the blueprint for the Audit and holds The Addis Group and the prospective client accountable to each other. To date, The Addis Group has not charged clients for the Audit.
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Extract
The Risk Management Audit
In 1990, I started an agency from scratch. No revenue, no carriers, no reputation. Only a $50,000 credit line and a dream of serving as an Outsourced Risk Manager for the middle market business segment.
Knowing that I could not compete on price or product (as I had no market clout), and believing that the middle market consumer was starving for a differentiate...See the full content of this document
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