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Risk Management

Getting a strong understanding of your business operations means creating a business profile to form a clear picture of your corporate goals and approach to risk management. This is similar to a routine health screening for your business, which helps us create a profile of your operational health. The profile we create will allow us to do a deeper evaluation of your biggest risk points, giving us a high-level heat map of your operational risk. Once we create your profile, we can get to work on a risk treatment plan and other solutions you may need.

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Risk Assessment

Our risk assessments are comprehensive and collaborative, and include targeted areas of risk including business continuity, business interruption, cyber threats and other emerging risks. We’ll identify and prioritize risks and create mitigation plans for those that are potentially severe.

We’ll also conduct a risk culture assessment where we’ll look at your organization’s ability to manage risk. This is intended to develop a better understanding of department-level and organizational risk culture and can highlight disconnects between senior management and other employees.

In addition to a risk culture assessment, we can also perform an industry risk review, which includes research and analysis reports about your industry as a whole.

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Risk Analysis

After identifying and analyzing your risks, we’ll work with you to better understand your entire risk profile, safety controls, and areas to focus mitigation efforts. In conjunction with this operational risk analysis, we’ll assess your total cost of risk, which can help you understand your insurance program costs, retained losses, and risk control costs. This will put you in a better position to understand how to control your costs.

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Risk Mitigation Strategy

After a thorough assessment and analysis, we’ll develop a comprehensive plan to target prioritized areas of risk. This plan will include assigned accountabilities from the client, MJ, and carrier partners. The plan we create will include action items needed to address areas of risk and will be aligned with your business objectives.

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