Financial Advisory & Risk Management

Financial Advisory & Risk Management

Quintosys distinguishes itself in the marketplace by offering comprehensive, holistic risk management solutions and integrated insurance management solutions to both the public and private sectors. The business is divided into two distinct arms, namely:

Risk Management

Insurance Management

Risk Management

Understanding and managing risk is essential for any organization public or private sectors. In the private sector, risk management is a widely accepted practice designed to control risks that could lead to a business failure if not properly managed. Therefore, profit maximization is the end result. However, the application of risk management is not as straightforward such as in the public sector. Government managers must manage risk within a complex environment taking into consideration the diverse missions and multiple objectives of public agencies. Rather than seeking to realize the greatest profit, government leaders must strive to manage the risks that increases the likelihood of an agency achieving its primary mission and strategic objectives.

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Insurance Management

Control and administration of insurance cover is normally vested in the Group Finance/Secretary Manager/Risk Manager/Municipality Manager. The cost of insurance cover is normally determined by a number of factors such as: extent of the exposure, organisational risk management policies, limit of liability required, covers offered, risk appetite of the company and excesses.
It is essential to note that small risks and recurrent/frequent risks are generally costly and these should fall under the risk management philosophy rather than passed over to insurance company although there maybe exceptions to this rule.

Proposed Short Term Insurance Covers

These proposed insurance covers are a guide to any corporate portfolio, and as such is a summary of covers that are essential in protecting the assets of the corporates. This guide is intended to highlight covers that corporates may require (as part of its entire Risk Management strategy) to protect their assets. A thorough assessment of the corporates risks will have to be carried out in order to recommend accurate insurance covers. Simultaneously, an evaluation of the existing insurance covers will be evaluated to assess their appropriateness to the exposures facing the corporates.
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A BRIEF DESCRIPTION OF COVER

ACCIDENTAL DAMAGE
Covers-Accidental physical loss of or damage to insured property at or about the premises other than leakage of oils/chemicals/fumes. Cover can be extended at additional cost to include:
Covers-Accidental physical loss of or damage to insured property caused by leakage of oils/chemicals/fumes including loss of such oils/chemicals.
PUBLIC LIABILITY
Indemnifies companies against legal liability to third parties for death or bodily injury to persons as well as accidental loss or damage to third party property due to activities connected with your business.

Quintosys Utitilises a ProprieteryERAS©ERAS©System

INSURANCE ASSESSMENT AND REALIGNMENT

Quintosys proposes to structure insurance programmes comprising of various services, taking into full consideration the results of our ERAS© process.

Relevant insurance coverage including • Business Insurance • Business Interruption • Engineering insurance • General Liability • Directors’ & Officers’ Liability • Loss Control • Terrorism Insurance • Personal Insurance

QUINTOSYS INTEGRATED INSURANCE SERVICES SOLUTIONS

As part of our ERAS© process, Quintosys will take a two-dimensional approach in reviewing your organisation’s current insurance portfolio. Our team will:

• Will take a “birds-eye-view” of the risks likely to negatively impact on the company’s assets.
• Identify, evaluate and design appropriate insurance products.

AUDIT OF EXISTING INSURANCES

  • Identify gaps in the current/existing insurance covers - This process will involve discussions with top management. The outcome of the process will lead to;
  • Detailed Risk Analysis – We will analyse the risks facing your organisation f om an integrated perspective, exploring risk inter-relationships within the organisation.
  • Risk Identification Prioritising – Through meetings with Risk Manager/Finance Manager and possibly conducting
    workshops, we will review existing data including past losses which were covered by insurance policies and those excluded. From this process, we will consider tools such as increasing insurance cover limits, waiving of some exclusions in the policies or increases of Captives and other options of risk transfer.
  • Risk Assessment and Quantification – Through risk analysis processes, we will rank high risks through quantification of
    the potential impact on the company assets/finances. Design risk management tools for all operational and insurable risks
    and continuously valuate risk inter-dependencies. Work closely with your organisation o measure and define risk appetite levels and assess risk retention strategies.
  • Risk Response and Management – Response time and management is vital in managing risk facing organisations
    which will lead to mitigating techniques that may be relevant. We will assist your organisation in equipping them to manage risks they face so as to take advantage of
    opportunities that come as a result of these risks, and it will enable the organisation to develop sustainable risk
    management strategies.

QUINTOSYS INSURANCE STRATEGY APPROACH

Our ultimate goal will be to safe-guide the assets and where feasible, reduce insurance cost whilst also making sure that the company gets the widest insurance covers available in the local and international insurance markets. Quintosys will enable your organisation the opportunity to have greater control and ownership of the final outcome with the privilege to advise and finally sell you risk solutions based on your organisation’s needs.

The process encompasses insurance placement with analytical skills to assist your organisation in financing its insurable risks in the most cost-efficient manner.

Provide strategic advice and input through structured processes which will serve as a tool to allow your organisation to make informed decisions in relation to risk financing programme to address the following:

  • The total cost of insurable risks
  • The insurable risk to be retained by your organisation
  •  Risks to be transferred
  •  The balance between risks retained and the risk transferred.

RISK FINANCE AND ALTERNATIVE RISK TRANSFER STRATEGY

Quintosys will assist your organisation in developing a comprehensive risk management framework which will determine the company’s risk maturity, risk retention capability and as well as risk appetite. This will form your organisation's risk financing strategy.

Benefits of Alternative Risk Transfer
  • Provide a recommended risk retention strategy from low to high risk
  • Align the risk-retention strategy with your overall organisational financial goals
  • Advice on the optimal method of capitalising/funding a Risk Financing Facility.
  • Discuss funding premium for optimal retention
  • Motivate a suitable structure and domicile for the Capti e and other facilities