The Ontario Broker - Volume 21, Issue 6 - 30

INDUSTRY & MARKETS
DON'T PUT THE CART
BEFORE THE HORSE
Robin Joshua-President, Echelon Insurance
we collect to forecast and benchmark, we can be proactive in our
recommendations and strategies to better support our brokers and
customers in mitigating risk.
One-Size Does Not Fit All
L
oss prevention and risk mitigation should be a key part
of any risk management strategy and is an important
complement to insurance coverage. At Echelon, this means
ensuring loss prevention is top of mind with our brokers
and customers before and after a policy is bound.
Bringing Prevention Expertise In-House
One way we're taking a proactive approach to loss prevention is
by bringing this expertise and knowledge in-house. We've built
and continue to develop an internal Technical Risk Services team
dedicated to providing expert advice to our key stakeholders. This
team works closely with our broker partners, underwriting team
and actuarial team to analyze the risks we consider. We believe
in embedding loss prevention strategies and protocols across the
entire customer lifecycle-whether a business is just beginning to
look at insurance options, working with their broker to understand
and compare various carriers or coming up for renewal at the end
of their policy, loss prevention should play a key role in each step of
the journey. The best way to keep risk mitigation and loss prevention
top of mind with brokers and policyholders is to ensure we have
influence and can contribute every step of the way. Bringing this
expertise in-house was the best way to achieve this goal.
Using Loss Prevention Data to Find our Niche(s)
Our Technical Risk Services team is focused on doing a deep dive into
the information and data available to pinpoint what works and what
doesn't when writing specialty risk. Bringing the expertise in-house
helps us easily identify which characteristics of a risk are positive and
which are negative to target the market accordingly. We use data and
analytics to identify trends across industries. By leveraging the data
Another piece of Echelon's loss prevention philosophy lies in our
belief that no two businesses are alike. We believe in taking a
consumer-driven approach to loss prevention by analyzing each risk
on its own merit and tailoring our strategies and recommendations
based on the risk we're underwriting. As a Specialty insurer, the
niche markets we serve come with their own nuances. By working
with brokers who are aligned and share similar expertise in these
markets, we're able to provide an effective risk management
service to our policyholders that helps them build safer businesses.
We actively work to stay up-to-date with the latest trends, code,
legislative changes and technology in order to remain relevant and
successful.
Everyone Deserves Coverage
The entire team at Echelon is aligned in our belief that every
consumer and business deserves appropriate and fair insurance
coverage. Our goal is to partner with our brokers and leverage
internal loss prevention expertise to provide comprehensive
solutions at a fair and affordable price. We see our business as
a multi-party partnership between Echelon, our brokers and our
customers. Part of this partnership and collaborative prevention
effort is our internal Technical Risk Services team leading the charge
to understand what businesses are doing right and where they can
improve to reduce their risk and loss exposure.
" Whether a business is just
beginning to look at insurance
options, working with their broker
to understand and compare
various carriers or coming up for
renewal at the end of their policy,
loss prevention should play a key
role in each step of the journey. "
30
THE ONTARIO BROKER
The Ontario Broker - Volume 21, Issue 6

Table of Contents for the Digital Edition of The Ontario Broker - Volume 21, Issue 6
