Are You Selling Safety? Anyone Buying? November 2009

1,190 views

Published on

Presentation to Intersure Annual Meeting, November 2010.

Published in: Technology, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
1,190
On SlideShare
0
From Embeds
0
Number of Embeds
36
Actions
Shares
0
Downloads
14
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide
  • Why should you care about enterprise risk management? What’s the value? Well, what are some of the risks that might keep a hospital’s senior management and board awake? Who manages these various risks? What about those that span the various functional management areas?

    Enterprise risk management seeks to balance strategic value creation in seeking positive opportunities with the tactics used to protect assets in order to avoid negative consequences across the scope of activities – both external and internal - that may affect the organization’s objectives. In doing so, it bridges the gaps that are found in typical approaches.
  • Talking Points….

    State and discuss the Objective for this session

    Ask participants their expectations of this session and encourage participation

    Stress Employee ownership as part of the process

    Close by restating the objective – key is to raise awareness and equip you with tools to help you be more comfortable in your work environment. This session will take approximately 30 minutes.

    State to the participants that when they leave:
    They will be responsible to fill out an evaluation of their workstation
    Understand where to go and how to report any concerns
  • Are You Selling Safety? Anyone Buying? November 2009

    1. 1. If You’re Not Out Selling Loss Control, You’re Being Outsold INTERSURE ANNUAL MEETING NOVEMBER 8 – 11, 2010 1 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    2. 2. Fay Feeney, CSP, ARM Principal Envision Strategic Group, LLC Advising Executives on Improving Business Performance by Focusing on Opportunities & Risks 2 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    3. 3. This session is for you if your firm is ready to sell safety services and create a “value –add” for clients: Safety, Health & Environmental management is integrated into culture and brand. Accountable leadership for performance. Considers safety performance a risk transfer event. Production before all else. Safety is supposed to happen by itself. 3 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    4. 4. Safety Management Performance: It’s All Good 1. Prepares your agency and clients for a hard market. 2. Attracts and retain clients who understand that safety is integral to improving business performance. Losses = waste 3. Build your book of business to gain the most competitive pricing and underwriting interest from carriers. 4. Tell me more…. 4 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    5. 5. 2010 Business Influences Demands for Safety, Health & Environmental Expertise  Business values = your reputation in a transparent world. Everyone know what you value without saying it.  Supply Chain Expectations  Going Green: Wal-Mart, Dell, etc.  Corporate Social Responsibility reporting  Business Risks – Perceived Safety Failures  BP, Massey Mining  Labor: Aging/Young/Global Workforce  High Hazard Work Environments  Construction 5 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    6. 6. @NACD 2010 #NACD Public Company Governance Survey: nearly 70% of directors claim they have not defined the company’s “#risk appetite” statement 6 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    7. 7. Addis Intellectual Capital (AIC) 100 CFOs September 2008:7 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    8. 8. People Mgt Financial Reporting Liquidity Capital Structure Operations Legal, Regulatory and Litigation Human Resources Chief Legal Officer Chief Financial Officer Chief Operations Officer Strategy and Management CEO, Senior Management Who Buys Insurance? How is Risk Managed? Who Bridges the Gaps Found in the Client’s Organization? 8 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    9. 9. Identifying Business Exposures 1 2 3 Relative Uncertainty RelativeImportance 6 5 Higher Higher Lower 4 7 8 9 1 Credit availability Technology breakthrough 3 4 Stringent regulatory environment Industry consolidation5 6 Radical greening 7 Deepening recession 2 AN ILLUSTRATION Global License to Operate 8 Cost cutting 9 Supply chain 10 Employee safety 10 9 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    10. 10. Opportunities to Outsell the Competition: Do you know which problems are producing pain? • Bring your technical expertise to CEOs and CFOs by identify the exposures facing their business. • Highlight your process to uncover and address their risk exposures. (Do they see these as pain producing?) • Your buyer wants results (save time, money, increased coverage). Position loss control beyond activities. Clients have to buy insurance. They get to decide if they want to invest in safety. 10 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    11. 11. Why Organizations Invest in Safety 1. Reduce Cost of Insurance 2. “Right Thing to Do” 3. Fed/State Regulations 4. Too Many Accidents 5. Leadership that believes EH&S is a culture that connects to the long term success of the organization 11 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    12. 12. Risk Management Standard ISO 31000 Let’s identify, analyze and evaluate our “selling safety” opportunities. 12 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    13. 13. 1. Identifying the risk maturity of prospects and clients. 2. Analyzing where they need to be to meet/exceed underwriting standards. 3. Evaluate what services will put them in the best position relative to “risk transfer” first then determine capabilities to progress to “risk management”. This puts your team in a position to help your clients and “sell safety” only to those clients who are buyers. 13 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    14. 14. Client Maturity LargeSmall Survival Thriving 14 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    15. 15. Safety Maturity “We like to think that all 10,523 of our employees are safety professionals – as we invest both the skills and responsibilities in each of them to ensure the proper application of safety principles for every operation, every day,” Mike Snyder, director of corporate safety, industrial hygiene and loss prevention 15 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    16. 16. Why Maturity Matters? • Positive results for client – Compliance – Positive influence on carrier underwriting – Business impact on bottom line • Profitability through enhanced efficiency and productivity These clients appreciate your safety resources to improve their performance. So what about everyone else? 16 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    17. 17. Client Readiness to Solve Problems What help will they buy? Enhanced Business performance Add to their success Standard Business opportunity – improve safety/risk management Basic Desirable risks – Help with carrier recommendations 17 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    18. 18. What Basic Clients “Needs to Know” (These are not safety buyers) • These clients are having bigger problems than just safety. You need to help them be insurable first. • Producer’s Dilemma – Connecting safety to perceived issues? – Motivating busy client to make time for safety presentation? – Time/expense to bring in-house safety pro to meeting? – Will effort to sell safety take client beyond their readiness? – Will buyer be handing off safety discussion to HR, Facilities, etc.? – How will the safety activities translate to results? 18 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    19. 19. Basic Clients These folks are not ready to buy They are in business survival You can help them: •Understand regulatory compliance and consequences of non- compliance. •Comply with recommendations from the carrier. •Establish roles and responsibilities for safety management. •Deal with demands from clients, vendors and suppliers for safety, health and environmental activities. •Bring basics requirements to management. 19 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    20. 20. Understanding Clients Buying Needs • Pre-package service • 3 Levels of Support – Enhanced – Standard – Basic 20 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    21. 21. Strategies to Communicate • Planning – – Know what you want to walk away with from the meeting • Which package and why – Basic – Meets underwriting standards – Standard – Wants to improve – Enhanced – Wants to excel & be inspired • Aceing the Meeting: – Matching message to client’s readiness – Clear client benefits in presentation materials – Leverage personal relationship with buyer • Decide who delivers the message 21 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    22. 22. Up for Consideration – Setting criteria to stratify clients by safety maturity – Realistic assessment of client readiness – Help Producers match message to buyers – Revisit your loss control staff expertise -does it match your clients needs/wants? – Inspire incremental improvements – Keep clients insurable and meeting underwriting criteria – Promote loss control services as a “value-add” 22 (c) 2010 Envision Strategic Group, LLC. All rights reserved.
    23. 23. Questions? Fay Feeney, CSP, ARM 310-372-0591 fay@123safety.com www.123safety.com 23 (c) 2010 Envision Strategic Group, LLC. All rights reserved.

    ×