Client Risk Solutions Going beyond insurance. Risk solutions for the Healthcare sector. Start

Transcription

1 Client Risk Solutions Going beyond insurance Risk solutions for the Healthcare sector Start

2 Partnering to Reduce Risk Healthcare and life sciences companies face a wide array of risk challenges, stemming from aging patients and staff, online record-keeping, regulatory uncertainty, among other sources. These challenges create vulnerabilities that must be managed proactively and efficiently, so healthcare providers can focus on their primary goal of healing patients. Healthcare risk profile AIG s Client Risk Solutions (CRS) partners with our clients to lower their total cost of risk. We take a holistic approach to identify and manage complex risks through a broad range of consultative services, leading edge analytics and modeling, and an ever expanding suite of innovative technologies. Property Substantial care facilities, often in dense population centers subject to natural catastrophe risks. People Customers and workers alike, exposed to on-site safety hazards. Performance Disruptions ranging from security, cyber, supply chain and even reputational risks. Market Segments Healthcare Systems Stand-Alone Healthcare Institutions Miscellaneous Facilities Life Sciences & Pharmaceuticals 2

3 Client Centric Analytics: From Insight to Response Client Risk Solutions takes businesses on a multi-stage journey through risk. From identifying and quantifying exposures to developing mitigation and response plans, CRS offers clients a continuous approach to managing risk, designed to lower their total cost of risk. Identify Business Exposures Quantify Likely Impacts Reduce Risk Effects Respond During & After Extreme Events RISK INSIGHTS CUSTOM ANALYTICS RISK MITIGATION EVENT RESPONSE Data Analysis & Exposure Summary Natural Catastrophe Supply Chain Analytics Industry Tailored Solutions: Wearable Technology & Telematics Emergency Response Planning Benchmarking Against Peers Safety Security Cost Benefit Analysis Property Risk Engineering Crisis Management Identification of Major Loss Drivers Cyber Fraud Business Continuity Planning Liability Risk Consulting Drone Inspection Services DIAGNOSTICS CONSULTANCY POST EVENT SUPPORT 3

4 Property Risk Solutions With locations in population centers and in rural areas, healthcare companies incur substantial natural and man-made risks. Client Risk Solutions provides a number of property risk engineering services designed to identify, assess and reduce these exposures. Key Risk Solutions for Healthcare Risk Assessment Identify, assess and reduce property exposures before they interrupt business activities and ensure robust business plans are in place should such an event occur. Reduce and/or eliminate the potential of loss due to explosion, fire, natural or manmade catastrophe, collapse, mechanical or electrical breakdown. Natural Catastrophe Advanced Modeling High-level reviews of exposures to natural hazards. Use of market recognized and proprietary catastrophe modeling software tools to assess property portfolio losses for a range of perils including earthquake, windstorm and flood. Detailed risk engineering assessments for individual complex facilities or infrastructure assets. Construction Risk Identify risks associated with design deficiencies, fire protection, water damage and commissioning. Develop a program to mitigate and minimize exposures. Physical Security Assessment services to improve resiliency, life safety and physical asset protection. Terrorism Risk Assessment Assess vulnerability to terrorist & active shooter attack. Facilitate SAFETY Act designation. Success Story: Security Services and Terrorism Mitigation A large hospital located in the center of a large North American city already purchased property insurance from AIG, and became concerned about its exposure to man-made catastrophic events, namely terrorism. Client Risk Solutions offered consultative security services to help the client identify and then mitigate particular vulnerabilities. The client is now appreciative that it is now considering extending our property insurance agreement for a three year period. 4

5 People Risk Solutions Healthcare providers remain focused preventing harm to patients as a result of their care, despite an increasingly complex environment. Client Risk Solutions partners with these organizations to provide safer care to their patients and a healthier work environment for their workers. Key Risk Solutions for Healthcare Worker Safety Risk management services, best practice assessments, training program development, ergonomic evaluations, regulatory compliance assistance and industrial hygiene services. General / Healthcare Liability Facility reviews using evidence-based assessment and benchmarking tools to identify strengths and areas for improvement for a variety of healthcare organizations. Complaint and claim reviews to pinpoint potential hazards and develop cost-effective solutions, even in high risk patient care activities and senior care. Safety culture surveys administered by a patient safety expert, who will collect and review data with management to identify and remedy cultural weaknesses. Custom recommendations, including key performance indicators, progress monitoring, and streamlined reporting to ensure positive changes. Fleet Safety Loss trend analysis and benchmarking; training for drivers, dispatchers and management; crash prevention. Success Story: Maternity Patient Safety Birth-related injuries account for a significant portion of major losses in hospitals. AIG s patient safety consultant worked with a large community hospital to identify opportunities for improvement in the care they provided to patients in labor. As the result of advice following a Best Practice Assessment, the hospital instituted an internal quality review process for the evaluation of fetal monitoring strips which allows for earlier detection of potential problems during labor. The client had a measurable reduction in the severity of their claims the following year. 5

6 Performance Risk Solutions New technologies and processes are helping Healthcare providers re-think the way they operate to deliver better clinical outcomes. Innovation also introduces a broad range of risks from cyber attacks to supply chain instability. Client Risk Solutions can draw on a range of resources to minimize these disruptions. Key Risk Solutions for Healthcare Cyber Security Training and awareness, harmful IP address/site blocking, vulnerability scanning, best practice comparison and infection detection. Business Interruption and Continuity Review and quantify distribution exposure to facilities and supply chains. Develop and test business continuity plans through scenario analysis. Client Centric Analytics Analytics, using AIG loss data, provide actionable insights to inform clients of opportunities to reduce cost of risk. Supply Chain Security Audit of facility and/or transit supply chain security procedures to ensure adherence with contracted requirements and/or industry best practices. Consultation on the development and/or enhancement of a corporate supply chain security policy and procedures. Success Story: Process Improvement A large, multimillion dollar healthcare client was concerned about near misses related to diagnostic test results because of poor tracking systems and recent staff changes in their clinics. With the help of AIG risk consultants, a new tool was designed to identify and address inconsistences and potential gaps in their process that could lead to tracking errors. The client has been pleased with the system improvements and has not reported any events or near misses in the past year related to test result management. 6

7 For more information American International Group, Inc. (AIG) is a leading global insurance organization. Founded in 1919, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement products, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange. Additional information about AIG can be found at and YouTube: LinkedIn: These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds American International Group, Inc. All rights reserved USAL