As a multinational company, your risks may be complex and sometimes difficult to identify and evaluate. The challenge of effectively managing differing regulations, local insurance customs, documentation in many languages, as well as ‘managing the unknown,’ can expose your business to penalties, high costs, uninsured risk, and reputational losses. A comprehensive risk and insurance audit can support multinational corporations in addressing these specific challenges.
How WTW's Global Insurance Audit delivers value
Flexible and dedicated service teams create a customized audit to meet your company's risk profile, delivering some key benefits focused on:
Enhancing and developing your global insurance strategy
- Supporting compliant insurance placements in the different jurisdictions where you operate
- Easy access to the information you need, with an interactive dashboard allowing you to view placement data (premium and number of policies) by country and insurance category
- Optimization of program design
- Future insurance program expansion (program structures that support your organisation’s geographical growth)
Improving the administration of your insurance policies and processes
- Reduction of risk management administration through process optimization
- Guidance establishing global claims procedures
- Increasing transparency across your business of your global and local insurances
Managing your global and local insurance costs, irrespective of geography
- Explore premium savings and possible efficiencies
- Understand and minimize total cost of risk and frictional costs
- Manage compliance to minimize potential penalties
