How we work
“ Businesses and personal clients face a variety of differing risks and objectives when it comes to insurance cover, our service does not stop once you become our customer, it starts.”
AMG focuses on and analyzes your issues and challenges, develops risk and insurance management research and development that is aligned with your business needs, and minimizes your risk exposure.
We help you to create insurance and risk management solutions by applying appropriate client-centered design methods along with a framework for the successful delivery of services into life. We work with you, offering a tailored solution to your needs by encompassing all aspects of strategy, design, transition, and operation using an understanding of your risk profile and objectives.
DISCOVER – UNDERSTANDING
We start with the discovery phase, investing time with you to understand your business and every single risk that impacts it, recognize and describe risks that might affect your business or its outcomes. There are a number of techniques we can use to find business risks. We gather lots of information, existing risk management and mitigation programs, some challenges, and put ourselves in your shoes.
DEFINE – IDENTIFYING
The definition stage is when we combine everything and try to make sense of all the possibilities identified in the Discovery phase. This stage defines the Risks and Opportunities, including uninsured risks, and performs strategic assessments to determine strategic fit. What risk stands out? What matters most, risk management, risk mitigation, or risk transfer?
We will assist you in reviewing and quantifying risks that could impact your Balance Sheets. The process prioritizes risks in terms of likelihood and impact and assists you in identifying, quantifying, and ranking the organization’s risks.
The process AMG will undertake involves detailed commentary on your key identified risks regarding the current insurance arrangements and other potential solutions. It provides a measurement of insurance coverage against identified risks, resulting in a ‘Risk versus Insurance’ gap summary.
DESIGN – CREATING
The design stage is where our creative solutions, ideas or concepts are created with options by using risk data analysis. This is also referred to as Risk Response Planning. During this step, you assess your highest-ranked risks and set out a plan to treat or modify them to achieve acceptable risk levels.
When designing and testing the most appropriate risk transfer solutions, how can we minimize the probability of negative risks while enhancing opportunities? In this step, we can create risk mitigation strategies, preventive plans, and contingency plans. You also add risk treatment measures for the highest ranking or most serious risks to this Design Stage. We often involve you to share the direction of our thoughts and ideas before we move to the Deliver stage.
DELIVER – LAUNCHING
The final part of our process is the delivery stage, where the resulting risk solution is finalized, produced, launched, reviewed, monitored, tracked, and evaluated. This may involve pulling in a range of specialist resources, colleagues and partners into our team to help deliver the solution of risk management, risk mitigation, risk transfer and comprehensive insurance placement at the optimum price.
If necessary, implemented risk solutions must be reviewed and revised to ensure they work as planned.