ClearRisk Partnership Development

ClearRisk is seeking partnership opportunities with large associations whose members would benefit from a comprehensive online risk management platform. The RMIS platform provides an overall solution for managing a complete insurance and risk management program, including incidents/claims, insurance policy tracking, asset tracking, vendor certificate management, and reporting. The partnership involves a pilot project that requires the participation of at least 10 members to optimize accessibility of the RMIS platform for all members through a shared community model/joint-ownership model. Partner associations will be the administrators of their member accounts through a parent/child account setup.

Why partner with ClearRisk?

Hard Market and Reduced Capacity

The global Commercial Insurance environment has been a hardening market for the past 24-36 months. Most providers have been reducing capacity, while pushing higher levels of risk and administration onto corporate clients.

Increased Insurance Costs

Most commercial enterprises have seen increasing deductibles and/or have had an adverse impact on their SIR. This has required risk managers of those organizations to be proactive and scramble for alternative risk management solutions, or face economic consequences.

Need for Risk Management Solutions

Commercial customers need innovative tools, reliable data, and education to proactively manage claims/incidents, policies, assets, certificates and contracts. There is a need to assess, and quantify risk and mitigation solutions, to lower indemnity and the total cost of risk (TCOR).

Value

Decreased Administrative Costs and TCOR

ClearRisk’s tools and resources provide value to current customers up to a 50% decrease in total cost of risk (TCOR), and over an 85% decrease in administrative tasks. The system will help clients improve processing and tracking of claims, incidents, and exposure information to better manage risk. Reduced risk contributes to partner profitability and client savings.

Benchmarking, Data Aggregation, & Trend Analysis

Partners will be able to access aggregated and anonymized data from clients for benchmarking and trend analysis that will help them better understand the claims/incidents their clients are managing. Easy-to-use query, reporting, and outcome analysis capabilities allows partners to see the data in ways they never had access to before, putting them in a position to better advise their clients.

Data Security and Privacy

ClearRisk offers a secure solution that ensures the security and privacy of participating clients' data. ClearRisk is a secure, flexible, stable, and reliable system that is capable of accommodating future growth and changes within client organizations.

Increased Client Retention

Access to ClearRisk provides clients with a risk management tool to significantly enhance their process and reduce redundant data entry and tedious administrative work. This benefit is a strategic brand differentiator that makes the client relationship more ‘sticky’ and less likely to switch.

Platform Accessibility

This partnership model follows a multi-tiered feature set and multi-tiered cost structure that makes the platform accessible to clients of varying revenue sizes. Partners also bring added value by allowing clients to skip the RFP process required to solicit an RMIS.

Integration with Third-Party Systems

ClearRisk is a customer facing platform that integrates with third party systems to streamline data flow between platforms. This reduces the number of automated and manual systems in place to streamline processing, reduce redundant data entry, and maintain data integrity.

ClearRisk License and Potential Incentives

This partnership model allows partners to benefit from a ClearRisk license and potential incentives based on the number of clients involved in the project. (See partnership model details). ClearRisk’s multimedia communication and marketing engages partners with existing customers, providing lead generation opportunities.

Program Structure

The program offers members child account licenses that roll up to the parent account, allowing access to ClearRisk’s RMIS including online web forms. Members will be able to track and manage claims, incidents, assets, policies, insurance certificates, and more. The reporting module provides the ability to produce reports from the parent account based on member data (can be anonymized) for benchmarking, data insights, and trend analysis.

Population: > 70,000 > 10,000 < 70,000 < 10,000

Tiers: Tier 1 Tier 2 Tier 3