Lockton: Providing Specialized Risk Management Expertise

John Lumelleau, CEO, LocktonJohn Lumelleau, CEO
Enterprise Risk Management plays an indispensable role in today’s financial market. Businesses are beginning to tailor risk management solutions that bring business outcomes and tangible savings through new product launches and effective pricing. Most notably, firms of all stripes struggle to integrate their risk oversight efforts with their strategic planning processes. To address these issues, enterprises are now in need of a powerful financial model to identify, assess, and manage risks that may affect an organization’s strategic success both positively and negatively. Headquartered at Kansas City, MO, Lockton is a privately owned insurance brokerage firm that provides insurance policies and specialized risk management advice along with assistance to manage client’s business. Lockton’s Risk Finance model, meets clients’ increasing demand for alternative risk programs, captive consultation, and collateral reduction strategies, resulting in drastic growth of their business. “At a time when clients clearly want more global service tied to local expertise and improve their businesses, Lockton Global offers flexible, effective, innovative risk-management solutions.” says John Lumelleau, President and CEO, Lockton.

Lockton’s Dynamic Capital Modeling understands clients’ business objective and measures the risk, which in turn helps them to make informed decisions about risk retention. The company also provides the best way to finance and assess expected outcomes based on the variability of probable scenarios. Lockton’s CAT team (Catastrophe Team), support clients with their expert crisis response and enable them to resolve insurance claims faster without any inconvenience, after a major catastrophic event. The team works throughout the fallout of a major devastation by providing assistance in getting priority responses from the carriers and keeps the clients updated about the future process, making sure the claim is on the right path. “Lockton, strengthens its client consulting capabilities, robust employee benefit analytics, creates industry leading benefits, compliance expertise, and expanded globally,” states Lumelleau.

Lockton Global is an evolutionary step, strengthening existing partnerships that serve the global insurance, risk management, and employee benefits needs of our mutual clients

The professional team of commercial insurance claims has in-depth experience in areas such as: marine, aviation, and other specialty placements. They ensure that the losses are managed efficiently by conducting regular reviews of reserves and settlement. Moreover, Lockton provides executive and financial risk insurance to the clients according to compliance regulations, irrespective of the changing corporate government standards, by understanding their exposure to financial loss and reducing risk. In addition to this, Lockton Advantage approach orchestrates client’s business strategy, its risk management and employee benefit objectives to help them gain new insights into their business and find new ways to increase safety and drive business results. Lockton’s Private Equity and Corporate Acquisitions Practice (PECAP) enable companies in acquisition mode to identify unrecognized exposures and their impact on purchase price, thereby optimizing risk management strategies for long-term financial benefits.

“Lockton Global is an evolutionary step, strengthening existing partnerships that serve the global insurance, risk management and employee benefits needs of our mutual clients,” adds Lumelleau. Many clients have been immensely benefited by approaching Lockton’s customized risk solution and financial services. Being an electronic manufacturing company, OSI Systems’ risk and insurance needs are also more complex. Lockton’s offering helped OSI Systems to enhance their risk management function for a better business. “Lockton’s global resources are strong and crucial for a better business and gives a great peace of mind that we have the right programs in place,” says Alan Edrick, Executive Vice President, and Chief Financial Officer.

Lockton continues to spread its philosophy of dedicated and insightful client services to build on business bottom line and also to maintain its position as the worlds’ largest independent insurance and reinsurance intermediary.