Insurance Industry Expertise
Property & Casualty Insurance covers risk associated with owning or leasing property, legal liability for third parties and employees, and management risk associated with liability for corporate governance.
Although risk and P&C insurance-related issues vary from company to company and industry to industry, Property & Casualty pain points often manifest in the form of increased costs associated with P&C insurance premiums and self-insured claims as well as the availability of coverage (Insurer Capacity).
Other common challenges in sourcing Property & Casualty insurance include:
- Buying redundant Property & Casualty insurance coverage
- Purchasing insurance coverage with deductibles that do not properly reflect the organization’s risk bearing capacity
- Rationalizing the use of Captive Insurance as a tax efficient vehicle for funding “self-insured” risk
- Employing the most cost-effective insurance brokerage teams and third party insurance administrators to best represent the company in the market, while also providing the right incentives to minimize insurance premiums, optimize P&C coverage, and mitigate claims
Corcentric can help solve all of your P&C challenges, as well as other specialized insurance areas such as Benefits and Insurance Strategic Sourcing. Our team of experienced Insurance Strategic Sourcing experts can help your internal procurement department connect and interact on a technical level with stakeholders across the organization, as well as key insurance suppliers to evaluate insurance-related spend categories and identify insurance cost reduction opportunities.
