Praxiom Overview

Creative Solutions for a Dynamic World

PRAXIOM Praxiom is a risk management firm comprised of highly experienced risk management, risk control, claims, and insurance professionals. Praxiom’s degreed and certified colleagues are dedicated to helping you most effectively manage your business’ Total Cost of Risk (TCOR). We believe that the best way to ensure success in any business relationship is to become long‐ term partners with our clients. We enter client engagements with a disciplined approach that is focused on assessing and understanding your business’ specific operations and risk exposures. We focus on jointly developing a strategy to help you proactively determine which risks you wish to mitigate and which risks you wish to transfer financially through an insurance transaction. Finally, we support that strategy by providing best practice tools, resources and a team of highly qualified risk management professionals to help you execute both an offensive and defensive plan to mitigate risks that you choose to retain. We are committed to helping our clients achieve optimal performance from their risk management and insurance programs through the application of best in class strategies and solutions. Our Pledge Our ultimate success as your risk management partner is realized by helping you maximize your business success. To achieve our joint goals, we pledge the following to you: • To understand the risks, challenges, and opportunities in your industry and in your specific business. • To invest the time and effort to learn and understand your business philosophy and company culture. • To provide you with information that will enable you to make informed risk management decisions for your business. • To become one of your primary business resources and a trusted advisor. • To recommend strategies and tactics that we believe will benefit the long term success of your enterprise and our partnership. • To assure that our compensation is always fair, equitable, and transparent.

Creative Solutions for a Dynamic World In today’s dynamic business climate, flexible risk management plans seem to be the exception to the norm. With companies focusing their efforts on funding sales, attracting and retaining top talent, and adapting to the fluid business environment, risk management is often an afterthought. Unlike many firms who focus solely on providing insurance solutions, the Praxiom risk management approach involves four core elements: • Assessment • Strategy • Solutions • Results Risk Management Diagnostic (RiskMD) Assessment Through our history of client success we have learned that the most appropriate starting point in a client relationship is to conduct a diagnostic assessment of your risk management program. RiskMDTM is a proprietary, diagnostic process used to comprehensively assess your risk exposures and the quality of your risk management program. Usually an eye‐opening event, the RiskMDTM assessment process includes: 1. a thorough examination of your organization to indentify and quantify what it does, what it stands to lose in the event of a loss and what it needs to protect its assets and earnings. This is achieved through management interviews, product/services review, and facility audits 2. a comprehensive audit of your organization’s contractual and financial risk transfer programs 3. an assessment of current risk avoidance, mitigation and claims management programs compared to industry best practices 4. financial modeling and total cost of risk analysis

Think Strategic Risk Management The RiskMDTM assessment provides the information and RiskMDTM analytics necessary to enable an informed and educated decision on the best risk financing structure for your isn’t for organization as well as key risk management improvement practices. you? Following the RiskMDTM assessment, we provide you with a Risk Management Action Plan (RMAP) which serves as a strategic road map for reducing your organization’s Total Cost of Risk (TCOR), including strategies for: • Risk Avoidance That’s what • Risk Mitigation • Risk Transfer makes your • Risk Financing business a On Going Counsel: perfect As former public and private industry risk management professionals, we understand the often overwhelming and dynamic challenges of operating a business. Praxiom candidate. provides not only traditional insurance program administration functions, but also continuing counsel to address issues, concerns, and changes. Serving as your outsourced risk management department or support team, we are there to answer questions, administer your insurance program and lend assistance in executing your RMAP — allowing you to focus on your core business functions.

Risk Control Solutions Does your ability to predict your company’s loss performance year over year feel like a roll of the dice? Is that unpredictability preventing you from taking advantage of lower premiums through loss sensitive programs? If you have experienced good loss performance recently, is it a result of consistently executed risk control program or just a matter of luck? Risk Control Services Leadership & Accountability Services Execution — it will make or break a risk We offer scalable risk control services and management program. Yet, companies often solutions to support your internal risk fail to apply leadership principles and management platform. Our services are management accountability systems that will highly focused and tailored to address your insure risk control and quality programs are business’ most critical risk exposures to consistently and properly executed. In mitigate the risk of Workers’ Compensation, addition, organizations depend on Auto, General Liability, Product Liability and management to execute their programs, yet Professional Liability claims. Services managers are rarely taught how to lead and include: manage the effort. • High Impact Risk Control Programs • Occupational Health & Safety Programs Our firm has partnered with Maximum • Fleet Safety Programs Impact®, a company founded by best‐selling • Interdisciplinary Risk Management leadership author and speaker — John Process Improvement Maxwell. Our certified Maximum Impact® • Risk Management & Quality System facilitators are able to provide cutting edge Integration leadership development and training such as: • Executive Leadership Power Seminars • Customized Performance Reports, Metrics and Benchmarking • Leadership Training & Coaching • Training Programs • Teamwork Training & Coaching • Policy & Procedure Development • Other strategic risk control programs tailored to your unique risk management challenges and exposures

Claims Management Solutions Organizations must be confident that claims are being handled proactively, competently and professionally on a day to day basis. Working with outside claim service providers and your organization’s internal claims management personnel we can assist your organization in imple‐ menting best in class claims management practices. Claims Management • Defining Roles and Responsibility of • Claim Resolutions Strategies Internal and External Resources • Claim Certification or Denial • Service Provider Claim Management • Internal Claims Management Practices Practices (TPA/Carrier) • Subrogation • Claim Service Provider Communication Guidelines • Primary Cost Factors Action Plans • Adverse Event Reporting Practices • Reserving Practices • Claim Investigation and Documentation • Reserving and Settlement Authorization • Medical Management of Claims • Litigation Management • Disability Management Programs • Cost of Risk Evaluation • Modified Duty Work Programs Outsourced Claims Management Services A dedicated claim management professional can be assigned to your organization to support your internal claim management resources. This specialist can assist your organization in establishing or supporting internal claims management practices. In addition, your dedicated claims professional is able to administer and manage all aspects of the claims management program and coordinate with other risk management and insurance services.

Results Can you make a business case for your risk management platform? Think insurance premiums are the only way reduce costs and impact your business’ profitability? Think again. Our holistic approach drives down the total cost of risk by enhancing our client’s quality, productivity, employee moral, and ultimately…profitability . How do we know? Simple — we measure it! It’s often been said that “what gets measured, gets done”. Praxiom believes that a successful risk management program must have defined metrics to measure both leading indicators (such as risk management program activities) and results. We utilize both activity and outcome based metrics to measure the efficiency and success of your organization’s risk management platform. Examples of these metrics include, but are not limited to: Activity Based Metrics Examples: Outcome Based Metrics Examples: • 360 Degree RMAP Implementation • Claim Frequency & Severity • Training Program Execution • Loss Ratio (losses vs. premium) • Employee Behavior Observation & Feed‐ • Claim Reporting Lag Time & Close Rates back of Safety and Quality Practices • Quality or Customer Service Metrics • Inspection/Audit Frequency and Quality • Total Cost or Risk (TCOR) Building a Business Case for Risk Management Our consultants have successfully worked with businesses in numerous industries to establish a business case for risk management program initiatives and profitability through a reduction in an organization’s total cost of risk. Working jointly with your business’ financial, operational and internal risk management representatives we will define the most effective metrics for determining your risk management program’s success.

Praxiom Power Partners True wisdom is sometimes knowing what you don’t know. One can not effectively focus on everything affecting your business; therefore, Praxiom has carefully chosen subject matter experts to practically deliver their knowledge to our clients. Our Praxiom Power Partners are truly best in class professionals that represent some of the most widely known firms in the industry. Whether you are looking to launch a new product, protect your intellectual investments, or provide your employees with the best work environment possible, we are certain that our team will raise your game to the next level. With bios as strong as the subjects they teach, our Power Partners are sure to hold your attention and assist you with some of the toughest issues facing your company. For additional information, please contact a Praxiom representative for a list of seminar titles from our extensive library. Praxiom Community Stewardship As part of Praxiom’s commitment to the industries we serve; the insurance marketplace, our community, and our team members are active in many different organizations. We make this a priority for many reasons; to be on the cutting edge of our clients’ industries, to insure that our risk management knowledge is second to none and to make our communities better places to live and work. Contact Us If you are interested in our risk management solutions and services, please contact us. Praxiom Risk Management, LLC 809 East Bloomingdale Avenue, #300 Brandon, FL 33511 888‐350‐7729

Praxiom Overview

by John Keller on Jan 07, 2010

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Praxiom Overview — Document Transcript