A New Way to Structure Complex Insurance Risk
What is OnRisk?
OnRisk invented this purpose-built, patented software technology to improve the structuring of complex, high value insurance risk. High-value risk placements rely on digital documents, online spreadsheets and manual processing that are hard to communicate, cumbersome and costly. OnRisk converts the digital information into a 2-D Graphical User Interface that enables the user to visualize and structure each complex risk including terms and conditions. OnRisk provides a perpetual insurance data store, enabling users to analyze, maintain and manage multiple years of data for analysis and recordkeeping.
We Aim To…
Enable users to improve complex insurance structure, perpetually maintain information and insurance policy details for analysis.
Goal #1
To improve a user’s understanding and communication of complex insurance tower and policy details including sideways aggregates.
Goal #2
To reduce the cost of insurance through better pricing or structure reducing uncovered claims.
Goal #3
To create a perpetual record of insurance towers and details that enable year-to-year comparisons of policy limits, premium, claims and sideways aggregates.
Benefits
OnRisk provides the users of this platform with improved placement and communication among underwriter, broker and corporate buyer.
Corporate
Corporations will use OnRisk as a structuring tool to better understand and manage their insurance tower data. OnRisk provides corporations with a perpetual tool for comparing desired policy coverage levels with actual placement results and claims. We believe this analysis combined with evaluation of historic claim data will result in a reduction of asset losses and lower insurance premium.
Broker
Brokers will use OnRisk to manage the process of building an insurance tower that covers their corporate client’s insurance policy requirements that mitigate potential losses from events including cyber, fire, flood, theft and other interruptions. Brokers can also use OnRisk to monitor and modify net risk position in real time and describe the placement of policies that build the complex insurance tower, including pricing, terms and conditions associated with each policy.
Interested in Our Program?
