Argo Group US — Argo Group — Investor Presentation (April 2021)
35 slides from Argo Group US's investor presentation, April 2021
Slide 1: Mastering Loss Control: Essentials for an Effective Program
MASTERING LOSS CONTROL: ESSENTIALS FOR AN EFFECTIVE PROGRAM WEBINAR
Slide 2: About Ascend With Argo
About Ascend With Argo Education. Insight. Connections. Training, support and mentorship for early-career insurance professionals. • Webinars • Shadow days with Argo employees • Exclusive events and conferences • A web-based training portal and content Learn more at argolimited.com/ascend-with-argo.
Slide 3: Featured Speakers
Kevin Sandelin Director of Risk Management Services, Argo Group Featured www.linkedin.com/in/kevinsandelin/ Speakers Ashley Heline Marketing Program Manager, Argo Group www.linkedin.com/in/ashleyheline/ INTRODUCTION 3
Slide 4: What to take away from this webinar
What to take away from this webinar • How loss control benefits policyholders, carriers and brokers • How to offer the most effective loss- control service • The importance of the carrier–broker relationship • Which innovations can improve loss- control offerings INTRODUCTION 4
Slide 5: What is loss control?
WHAT IS LOSS CONTROL?
Slide 6: Loss control definition
loss control n. A risk management technique that seeks to reduce the possibility that a loss will occur and/or reduce the severity of those that do occur; also known as risk control or safety [Source: IRMI]. 6
Slide 7: Loss control is taking measures to prevent bad things from happening
Loss control is taking measures to prevent bad things from happening. 7
Slide 8: Audience Insights
Audience Insights Does your company have an internal loss-control program? a. Yes b. No c. Unsure 8 WHAT IS LOSS CONTROL?
Slide 9: Audience Insights
Audience Insights Do you currently partner with your carrier(s), consultants or other third parties for loss-control services? a. Yes b. No c. Unsure 9 WHAT IS LOSS CONTROL?
Slide 10: Claims scenario: A slip and fall at the ballpark
Claims scenario: A slip and fall at the ballpark In the absence of an effective loss-control program, missed opportunities create a chain of events that can lead to a claim. WHAT IS LOSS CONTROL? 10
Slide 11: What could be some missed opportunities in this scenario?
What could be some missed opportunities in this scenario? WHAT IS LOSS CONTROL? 11
Slide 12: Types of loss-control services
Types of loss-control services IN PERSON/ON THE GROUND • Safety inspections/surveys (audits) • Trainings • Manager meetings • Loss analysis REMOTE/TELECONFERENCE • Trainings • Demonstrations • Loss analysis WHAT IS LOSS CONTROL? 12
Slide 13: Types of loss-control services continued
Types of loss-control services continued ONLINE RESOURCES • Safety videos • Document libraries PROGRAM DEVELOPMENT • Injury and Illness Prevention Program (IIPP) • Safety programs • Employee onboarding and training guidelines DIGITAL RISK MANAGEMENT TOOLS • Many options for tools, resources and serv
Slide 14: Digital risk management tools
Digital risk management tools The industry offers multiple specialized, customizable, and unique loss- control tools. These help companies reduce the frequency and severity of customer and employee accidents. WHAT IS LOSS CONTROL? 14
Slide 15: A day at the ballpark: missed opportunity #1
A day at the ballpark: missed opportunity #1 A premises inspection program • It’s important to have a way to recognize and remove hazards. In this example, the ballpark should have a way to monitor for spills and other hazards. • In addition to customers, employees face the risk of injury from slips
Slide 16: Who plays a role?
WHO PLAYS A ROLE?
Slide 17: Know the players
Know the players 1. Policyholder 2. Broker 3. Consultant 4. Carrier WHO PLAYS A ROLE? 17
Slide 18: Questions for brokers to ask carriers
Questions for brokers to ask carriers: • What loss-control services do you have? • Is there a cost for any of the services? • Are there any digital tools available for the policyholder (and broker) to use? WHO PLAYS A ROLE? 18
Slide 19: What does an effective loss-control partnership look like?
Who plays a role? What does an effective loss-control partnership look like? • What can/does the broker/carrier/consultant provide? • Is there value in strategic partnerships? • How can you supplement each other’s offerings? • Where do you draw a line on what’s being provided by whom? • How do you e
Slide 20: Which services should be provided and why?
WHICH SERVICES SHOULD BE PROVIDED – AND WHY?
Slide 21: What to consider when determining services
What to consider when determining services • The involvement of the policyholder, broker, consultant and carrier • Coverage type (GL, workers compensation, property, auto, surety) • Are services included or fee for service? • Brokers: Do you include a fee that is part of every policy or do you have
Slide 22: What to consider when determining services continued
What to consider when determining services continued Policyholder Losses and Exposures • Past • Present • Future • Changes to the organization • Growth or decline • Loss-control efforts WHICH SERVICES SHOULD BE PROVIDED AND WHY? 22
Slide 23: Trends in loss prevention: digital risk management services
What to consider when determining services continued TRENDS IN LOSS PREVENTION: Digital risk management services • Changes in the workforce: multiple generations working together • Technology changes: wearable devices, digital risk management tools, improved analysis • New and different exposures: H
Slide 24: A day at the ballpark: missed opportunity #2
A day at the ballpark: missed opportunity #2 Facility design and maintenance • In our ballpark scenario, having high-traction or slip-resistant flooring at vulnerable points could help prevent slips from beverage spills. • The question: If you know there is a hazard present in a particular area, wha
Slide 25: Audience Insights
Audience Insights Has anyone you know ever experienced an incident outside of their home (such as at the grocery store or an athletic event) that led to a claim? 1. Yes 2. No WHICH SERVICES SHOULD BE PROVIDED AND WHY? 25
Slide 26: Why do we offer service?
WHY DO WE OFFER SERVICE?
Slide 27: Understand what's in it for...
Understand what’s in it for ... The policyholder • Reduction of losses • Lower loss ratio • Lower TCOR • Lower premiums The carrier/broker • Sales tool • Retention tool • Reduction of losses • Differentiator WHY DO WE OFFER SERVICE? 27
Slide 28: How do we offer the most effective service?
HOW DO WE OFFER THE MOST EFFECTIVE SERVICE?
Slide 29: Consider the policyholder's perspective continued
Consider the policyholder’s perspective continued • What does the policyholder want? • What do they need? • Do these things line up? • What does your analysis show? • What is their perception of what you are doing for them? HOW DO WE OFFER THE MOST EFFECTIVE SERVICE? 29
Slide 30: A day at the ballpark: missed opportunity #3
A day at the ballpark: missed opportunity #3 Training • Make sure employees are aware of potential hazards and are receiving the training they need to minimize exposure. HOW DO WE OFFER THE MOST EFFECTIVE SERVICE? 30
Slide 31: Summary
SUMMARY
Slide 32: One last piece of advice
One last piece of advice As you think about your loss-control program, consider: Who is involved? What does the policyholder want and need? SUMMARY 32
Slide 33: Question & Answer
QUESTION & ANSWER What questions do you have?
Slide 34: Thank you
THANK YOU Learn more at argolimited.com/ascend-with-argo.
Slide 35: Legal Disclaimer
Legal Disclaimer The information in this presentation is provided for educational purposes only and is not intended to be, and may not be relied upon as, legal, financial or risk management advice. Argo Group US, Inc. and its affiliated entities (“Argo”) makes no representations and provides no warr