Our Business Approach
We demonstrate a high degree of practical expertise within our chosen business segments,
which with our core values ensure credibility, service, and loyalty towards our business partners
RiskPoint’s primary distribution channel is the professional insurance brokers. We do not have our own internal sales organization. Building on our long experience with developing and underwriting commercial insurances, we focus on retaining and expanding our expertise in risk assessment and product development within our chosen business segments.
Quality is important for us, which is why we only offer insurance solutions with minimum A-level credit ratings. Our customers and suppliers can rely on our credit quality – also in the long term perspective.
We issue all of our policies
All of our policies are issued inhouse and will state which insurance company assumes the risk. While we have the right and the obligation to perform customer service, including claims handling, it is the insurance company that the given policyholder or insured person have a claim against. Accordingly – as our client – you have the direct and full advantage of the fact that all the insurance companies we represent have minimum credit ratings of A-level with Standard & Poors or equivalent.
Each of the insurance companies RiskPoint represent is subject to their respective home country’s regulatory authority. As appointed general agent, RiskPoint is the insurance company’s local legal representative and point of contact for the local regulating authority. We also act as fiscal agent, i.e. we collect insurance taxes and other charges on behalf of the insurance company and settle these with the respective tax authorities.
High quality claims handling
Similar to RiskPoint being empowered to accept risks, we also have the authority to handle and settle claims with binding effect for the risk carrying insurance company. In practice you report the claim to us and we pay the claim or loss to the insured with the funds of the risk carrying insurance company. Further, as general agent we can receive service of suit and other formal legal actions on behalf of and with binding effect for the insurance company.
Quality means that the customer receive fast, flexible and fair claims handling and claims settlements. In addition to customary confirmation of receipt of claims within 24 hours of receipt of notification, we prioritize to keep the customer informed about development in the adjustment and settlement of the individual claim on a regular basis. This is especially important for claims, which because of their circumstances and complexity, cannot be finally settled within a short period of time. Managing expectations is an essential service parameter for us.
To complement our own capable loss adjusters, RiskPoint utilizes leading loss adjusters and law firms for the various classes of insurance, whom we will engage to handle claims after prior agreement with the customer and its representative(s).