A New Model for Managing Your Risk
By Kurt Thoennessen, CAPI
High-performing, successful individuals want to protect their lifestyles and families from harm.
They know they have a multitude of risks that need to be managed, but don’t have the time to dedicate to it.
When these risks are ignored the probability of a loss increases and may ultimately lead to disaster that must be addressed.
People are generally aware of this, but feel helpless to do anything about it because they have more pressing matters to handle.
Successful individuals perform at a very high level in everything that they do, and personal risk management should not be an exception since their lifestyles and families are ultimately what are most important to them.
I understand that the world of risk can be confusing and time-consuming and recognize that most people avoid initiating discussions about risk and insurance.
I have been working with successful individuals and families for over 10 years and have earned the Certified Advisor of Personal Insurance (CAPI) designation from Chubb and the Wharton school. I teach personal risk management as part of the Private Risk Management Association’s professional certification course. I was also awarded the Joanne Heltibridle Award for Professional Excellence and named Power Broker in the Private Client category of Risk & Insurance magazine’s Power Broker awards in 2016.
For anyone considering working with me, I have a three step process that I would take you through. It includes:
Risk Analysis – Getting to know you and what’s important to you.
Risk Transfer – Designing a tailored insurance program to transfer the financial exposure you are not comfortable carrying yourself to an insurance company.
Risk Management – Identifying proactive strategies we can implement to prevent loss from ever happening.
I recognize people are busy and have little patience for this topic, which is why I do as much of the legwork as I can on their behalf as we go through the process. I also use technology to streamline the process and provide an efficient client experience. There are also no fees for engaging my services since I am paid a commission by the insurance companies once we place insurance policies with them.
If you would like to work with me to develop your own personal risk management program, please call me at 203-405-2645 or email me at firstname.lastname@example.org.
People who choose to work with me will gain a partner in managing their risks and as a result have peace of mind knowing that they are doing everything they can to protect their lifestyles and families from harm.
You can also visit my website, www.InsureScope.com, to learn more and receive a complimentary digital coverage review.
I have seen the negative consequences that can occur when people do not pay attention to their risks. In the worst-case scenarios they experience disasters that could have been avoided. They also experience gaps in insurance where the insurance policies do not respond as expected. Lack of attention to insurance contracts can also lead to over paying for coverage that is not needed. In the case of high value homes the cost implications can be hundreds and even thousands of dollars in misplaced premium dollars.
Before clients engage me, they are typically automatically renewing their insurance policies on an annual basis with little to no contact from their insurance agent. They view insurance as a commodity and a necessary evil.
Once I engage with a client I change the conversation with clients from just talking about insurance placement to discussing risk management strategies. As a result, they gain a better understanding of the risks they face and how to avoid disasters. They also become more confident in their ability to be resilient in the face of loss. They also understand that insurance is just one tool in the arsenal of weapons they can use to protect themselves and their families from harm.
Kurt is a Senior Advisor with Ericson Insurance Advisors and a Certified Advisor of Personal Insurance (CAPI). He works with high net worth individuals and families to design and implement risk management and insurance programs.