Oswald: Managing Loss Control and Claims Needs

CIO VendorRobert J. Klonk, CEO
The insurance industry has been going through a great deal of transformation, since the major financial catastrophe in 2008. Today, insurers are adapting to the new economic environment and adopting advanced risk management strategies to ensure safety, transparency, and effectiveness of business processes. To coordinate responses to the full spectrum of risks affecting a company’s bottom line, decision makers must diversify, hedge, and insure risks in a more comprehensive and efficient way. This is where Oswald comes in. The technical expertise and strategic vision necessary to manage risk is the subject matter of the program in Risk Management and Insurance. “Every day, we try to find better solutions for our customers to make their lives easier and simple,” states Robert J. Klonk, CEO, Oswald.

As an insurance brokerage and risk management firm, Oswald, helps individuals and businesses to locate and eliminate risks through cross-functional business units of which property and casualty is one of them. “As an employee-owned firm, we look for companies that have complex challenges and are looking for a more consultative and strategic-oriented broker rather than just transaction-focused,” asserts Klonk.

The firm can effectively reduce commercial property and casualty risks for clients with their tailor-made solutions which manage Total Cost of Risk (TCOR). Oswald also provides expert teams, innovative programs, and proven risk assessment systems that strategically align the needs of their customers.

Their property and casualty team delivers industry-leading insurance, risk management, and consultation services. The organization’s insight of global risks helps to meet the multinational insurance needs through advanced expertise and powerful global partnerships. They help organizations to extend globally and work across functions to address general business risk, employee benefits, and traveler coverage, mergers and acquisitions, and nearly any other business risk.

We look for companies that have complex challenges and are looking for a more consultative and strategic-oriented broker rather than just transaction-focused

The company's executive risk division delivers specialized consulting and services in the complex and evolving environment of management liability.

With the change in ownership, management liability, directors and officers liability claims increase significantly. Oswald helps their clients to navigate this challenging situation ensuring that new coverage is instituted to reduce risk and protect management. The Property Loss control department uses technology and market relationships to tackle the emerging threats and proffer services in various domains like Carrier Loss Control Management, Disaster Recovery Planning, Environmental Risk Assessment, and Reducing Total Cost of Risk. The firm's Casualty Loss Control service is designed to identify the best internal practices and promote solutions paralleling to the goals and objectives of the customers. Some of the services include Auto/Fleet Safety, General Liability, Risk Steering Committee, Root Cause Analysis, and Workplace Hazard Assessment. The firm’s Claims Management program controls the customers’ claims cost by creating a customized internal process to systematically process claims and improve partnership with Third Party Administrator (TPA) or carrier. The Data Analytics service consolidates data, develops them, and reports on key performance metrics, allocates cost programs and enables financial reporting and web-based property valuation.

In one instance, Oswald assisted Akron Children’s Hospital with a breakthrough insurance solution on Integrated Project Delivery (IPD). The client was looking out for a provider that had previous experience and thorough knowledge of IPD as well as OCIPs (Owner-Controlled Insurance Programs). Oswald addressed their needs and furthermore, was able to package all of the project’s coverage lines with one carrier for a program offering a single source for risk management. Moving ahead, Oswald will enhance the services to tackle risks faced by enterprises better and open new doors of opportunities for clients.