Tata AIG Risk Management - Adding value to your organization
Insurance business is nothing but a "transfer of risk" by an insured to an insurer; hence, insurer's prudent approach to risk management is only way to protect insured's interest in long run. Good financial health of insurers by practicing effective risk management programme makes the insurers possible to fulfil their commitment in the event of any unforeseen eventuality resulting in severe losses to the insured.
We at Tata AIG always believe in minimization of risk for our clients. To achieve this objective, we have a team of highly experienced Risk Management / Loss Control Specialists on board who undertake risk management activities for your plant. The risk management activities of Tata AIG in India are supported by AIU (American International Underwriters), a division of AIG (American International Group). Established in 1919 and operating in more than 130 countries worldwide, AIG has vast experience in the field of risk management. The risk engineers of Tata AIG have been trained by AIU to enable them to conduct risk surveys as per AIU Global Standards.
Insurance covers normally direct or tangible losses, which is just the tip of the iceberg; however, intangible uninsured losses such as goodwill, market share, shareholders' confidence, employees' morale etc. will have severe impact on the insured. Hence, Risk Management services and loss control measures offered by Tata AIG are very crucial in terms of insured's overall business perspectives.
The Risk Management Service offered by Tata AIG would assist the insured in a loss prevention programme in a number of ways:
- Surveying the insured's facility, the risk engineer would identify loss causing events which could result in property damages and business interruption.
- Reviewing probability and severity of the loss causing events, the risk engineer would advise insured on loss control measures.
- Risk Engineer would update the insured on latest risk management tools being practiced globally.
This would not only lead to better risk management, but also a possible reduction in premium for the insured.