One Risk Group Innovates in a Staid Industry

By Nicole Zaro Stahl, Hacienda Network Staff Writer

New Business Model Streamlines Operations, Freeing Employees to Concentrate on Customer Needs

Just about every business recognizes the need for and the value of insurance. However, figuring out the best way to manage risk and coordinate the various types of products available can be a complicated undertaking. Property loss, workers compensation, disaster recovery - these are just some of the areas where coverage is necessary to protect assets and minimize exposure. A comprehensive strategic plan that addresses the full gamut of issues for each individual client is the specialty of a new Hacienda company, One Risk Group LLC, at 3825 Hopyard Road.

"We are a progressive financial services company offering risk management, insurance products distribution, and business advisory services," explains One Risk founder and CEO Jon Turner. In forming the new company, Turner has devised a new business model that harnesses technology and outsourcing to streamline operations, freeing employees to concentrate on customer needs.

Insurance is a heavily regulated industry, and many in the distribution channel lose sight of the customer in their focus on compliance and shareholders, Turner notes. "We found that lack of customer contact is the number-one reason customers leave their insurance broker. They do not view their broker as providing a defined customer contact strategy. The relationship is reactive, not proactive." Eliminating the encumbrances of the process allows the firm to "put our focus completely on the customer."

The company is carefully positioned to fill the void left in the insurance products distribution model due to consolidation. As national brokerage firms and banks have acquired the strongest and most experienced regional players, the emphasis on the customer has further diminished, Turner observes. "This climate presents a great opportunity to shift the paradigm. We are in business for one purpose, to serve the customer. That's why the company is named 'One Risk.' We offer single-source solutions across the entire spectrum, from property and casualty insurance, claims management, employee benefits, and employment practices to financial planning and safety consulting. We identify what the issues are for the customer and help develop the solutions to protect against those risks."

In order to provide such a high level of service, Turner adopted a much leaner operating structure for the firm. "You have to rethink things to be innovative in a normally staid industry," he comments. Technology, grafted on industry best practices, allows the company to deliver a superior product in a more profitable way. "The first thing we did is purchase the latest and most user-friendly agency management system." Mistakes are minimized in the almost paperless environment, where client information, faxes, and voice mails are stored directly in the appropriate computer files.

Outsourcing and work-shifting also make the business run more smoothly. Outsourcing partners give the firm access to knowledgeable consultants hand-picked for their expertise in specialty areas. Work-shifting generates significant economies by assigning backroom functions to specialists in that type of processing.

Response to this new model has been strong, Turner reports. "We were able to get bank financing in this difficult climate, and we have solid relationships with hundreds of insurance carriers. We have also been gaining attention in the business community," he concludes. For more information, visit www.oneriskgroup.com.

Photo: Jon Turner, CEO and founder of One Risk Group, brings a new approach to risk management.

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