With Harvard studies that estimate billions of dollars lost each year among companies that fail to implement loss prevention strategies, it’s confounding that more corporate decision-makers don’t improve their risk management policies. Yet, even among the businesses that make this a priority, the task is daunting. eMaxx, one of the nation’s leading providers of commercial and captive insurance, understands the magnitude of risk management and provides all its members with a comprehensive plan, training and 24/7 partnership to maximize insurance through risk technology, minimize damage and ensure success.
A variety of risk management services is key to reducing costs for clients and increasing underwriting profits. With the aid of proactive, industry-specific safety and loss prevention techniques, clients can benefit from both a financial and human resources perspective. However, several factors must be in place to ensure that risk management becomes embedded into the company’s mission. For example, senior management needs to be committed to the plan. Second, the effort needs to be cross-functional, meaning that all departments throughout the organization need to be on board. Loss and prevention must become a priority, equal in importance to sales. A management team should be devoted to maintaining this priority and working hand in hand with the insurance provider. Employees ultimately can view a loss prevention program not only as a way to prevent financial problems or safety issues, but most importantly as the means to protect assets. Employees can become advocates in the process.
It’s important to implement loss prevention techniques that motivate employees and make clear the significance of the program. The eMaxx driver training and RigPass training courses are excellent examples. Driver training is a huge step in reducing crashes, yet many customers initially don’t see the connection. Furthermore, the team should be open to innovation, using technology wherever possible to minimize risk. Telematics (on-board and GPS monitoring of vehicles), in this case, is an excellent solution.
For clients who feel overwhelmed and don’t know where to start, eMaxx employs professionals whose credentials span more than 20 years in the energy and towing industries—including HAZMAT, Department of Transportation carrier safety inspection, propane and oil system expertise, oil and gas, construction health and safety, as well as fire service. They can sit down and discuss loss prevention tips in terminology that is understandable. They will also help clients prepare a comprehensive plan of action.
For companies who prize their assets, value their employees and want to maximize how they manage risk, eMaxx has the technology, expertise and track record to make this happen. Contact our team today.