Reason to Choose TVS Insurance
Brief on Risk Management
Today, around 80% of Corporates believe that an effective risk management strategy is an important step towards achieving the goals and objectives of the organisation. Yet only 20% have a formally approved risk management policy in place.
“Lots of companies have good decision making skills; but it is never a substitute for a strategic approach to risk management.”
Risk means different things to different people. However, what is important is that risk includes both threats that can materialise and opportunities that can be exploited. So a conscious organisation would know how to optimise its exposure to a variety of risks. In fact, TVS Insurance Broking Limited aims the risk mapping exercise for an optimum cover at a less expensive rate for the client – as Insurance Broker, we represent the client and not any Insurance company.
Most decision makers define risk as a potential threat to the achievement of business objectives of the organisation, while a significantly smaller number see risk as an opportunity to profit. This definition is very pertinent today, as the current business environment offers both challenges and opportunities to organisation and it is up to an organisation to manage and carry forward these scenarios to its advantage. The indispensable nature of effective risk management is well understood and appreciated in today’s business environment. Risks are dynamic and the nature, colour and the flavour of the Risk can change dramatically over a period of time or even any time.
TVS INSURANCE Service Profile
- Operational risk managers, Corporate Insurance advisors and Insurance Brokers.
- Handling the entire insurance portfolio of corporate clients, institutions and other participants.
- Advising the clients on Risk requirements based on the cost beneficial analysis
- Facilitating the value of Assets
- Risk Inspection and Risk Mapping
- Negotiating the right rate / premium for the right coverage
- Mitigation process
- Advise Corporates in engineering and risks on areas like Erection All Risk, Workmen Compensation, Liability, Marine, Property, Employee Benefits – Group Health and Group Accident, etc.
- Quantification of Liability Exposures
- Policy wording evaluation
- Claims Management
- One stop shop solution for all Insurance Products viz., Motor incl. Bike Insurance, 4 wheelers – Car insurance, Commercial Vehicles insurance, Bus insurance, Construction Equipments insurance, Machinery, Engineering, Marine Transit, Property, Industrial Risks, Liability and Health insurance.
- Providing policy audit, improvement in coverage, day-to-day policy administration
- Combined Professional team with varied experience in Insurance Sector
- Insurance outsource to the client, thereby peace of mind and concentration of core business for the client
TVS Insurance’s value additions to your company:
- With apt quantification of Risk Assessments, we advise the company for optimizing their cost of risks – Right cover for the Right Price optimization.
- We have no financial entanglement with any insurance company as an insurance Broker. We deal with all the insurance companies. We have the best bargaining power to negotiate for the best premium rates for the best Terms and Conditions, required for our clients. We have the best expertise in evaluating the policies in terms of the adequacy on the coverage and the terms of claims settlement.
- We have innate quality and capability in getting the claims settled in an appreciable manner. As this is a process driven perseverance, we work meticulously to get things done from the Insurance Companies. Apart from the Insurance Company we would also follow up with the surveyors for completion of survey. We would simultaneously work along with the Insurance Company’s service desk, in helping them to speed up the matter.
- We maintain a client-wise Dash Board for a clear view on the total Insurance Portfolio starting from premium, date of expiry, endorsements, etc.,
- Insurance policies are legal contracts with exclusions and limitations. Any gap in the coverage will lead to potentially disastrous results at the time of claims. Many of these gaps can be plugged by us without significantly increasing the insurance costs and / or even by transferring the premium from a relatively unimportant coverage to pay for missing coverage with a proper plan.
For all these services, we do not charge any fees. Hence, appointing us will not result in any outflow for the client company. We make our living from the Insurance Company, needless to mention that the cost is not built on the client.
TVS Insurance Broking Limited, a wholly owned subsidiary of TVS Automobiles Solutions Limited, provides Insurance consultancy services in Operational Risk Management to Corporates, Small and Medium Enterprises and Retail segments and holds the IRDA license for Insurance Broking Business.
Our concerted clients’ activities have been paying rich dividends with the acquisition of premium clientele cutting across business segments.
Our existing clientele are from the following Industry:
Construction, Software, Technology and BPO, Manufacturing, Environment Specialists, Auditing Firms, Tyres, Logistics, Dealership, Material testing and calibration, Water Treatment, Educational Institution and Business School, Energy and Power, Garments and Apparel, Networking, etc.,
TVS Insurance Broking Limited has combined staff support to handle Risk Management, Marketing, Legal, Claims and back office operations. Our professional team comes with varied experience, both in industrial and insurance sector. Our combined strength of Retail and Corporate will be an exclusive and distinctive advantage in the fraternity, in terms of service through whopping logistical support.