Everyone should buy insurance for their business. But of all the things out there that can harm or even slow your business, how many can be fully addressed with an insurance policy alone? This is the question that drove us to create 3byFive™.
Traditional Insurance brokers start with one solution in mind, insurance. They look to utilize this one tool to provide protection against only one form of risk, Hazard. Hazard risk is exposure to risks like Fire, Earthquake or Liability claims.
3byFive™ looks beyond 1 product and 1 risk, to look at all three forms of risk Hazard, Business & Strategic. We then address them utilizing the five proven strategies of Risk Management: Prevent, Mitigate, Finance, Transfer & Assume.
We take the traditional approach and turn it on its head. We start by conducting a thorough assessment of the risks facing your business. We then prioritize and quantify those risks, so you have a clear understanding of the things that are likely to negatively impact your business. We then present a comprehensive and customized risk management plan that we can help your team implement. With this approach insurance becomes just one small part of the equation.
New risks are emerging all the time, to see what the top risks are facing businesses in Canada and the rest of the world today download the 2015 Allianz Risk Barometer