When it comes to insurance solutions, one size does not fit all. That’s why The McGee Group has developed an in-depth diagnostic process to effectively evaluate our clients' insurance programs. With this detailed process, we are able to determine if a company's assets are properly insured and the necessary safeguards are in place to reduce and manage claims. Here’s how it works:
Step 1: Risk Exposure Analysis - A thorough business review.
We’ll get to know your business inside and out, closely reviewing current risk management strategies, operations, business and financial structure, as well as complete incident policies and procedures. Even within the same industry, every business is different—your insurance should match your business, not your competitor’s.
Step 2: Claims Analysis - A deep dive into current claims management and reserves procedures.
We look at the trends, severity, and frequency of claims to uncover patterns and opportunities for improvement. We’ve helped countless companies discover the underlying threads in claims and fix future problems before they start. We’ll also take a look at reporting procedures and how claims are followed through. We pay particular attention to the claim amounts and whether they are reasonable—especially the reserve placed upon claims by the insurance carrier. Reducing reserves can result in significant savings.
Step 3: Insurance Program Design - A custom-designed insurance strategy.
At this point, we’ve identified the right coverage and carrier for your specific needs, but The McGee Group does more than deliver policies. We take the time to walk through coverage terms and conditions, our cost/benefit analysis for different program coverage, retention, and limit structure.
Step 4: Loss Control - A plan to minimize future claims.
At this point, we’ve identified the right coverage and carrier for your specific needs, but The McGee Group does more than deliver policies. We take the time to walk through coverage terms and conditions, our cost/benefit analysis for different program coverage, retention, and limit structure.
Step 5: Maintain and Adjust - A continual review.
We stay in constant communication as business needs change, reevaluating coverage and adjusting when necessary. About 3-4 times each year, The McGee Group will start this process all over again, from risk exposure analysis to loss control. These reviews ensure you have the right amount and types of coverage at every step of your business’s growth.