Reducing the client’s total cost of risk is Eikos’s primary objective. The business acts as an outsourced risk manager; think of it as an extension or proxy of your insurance and risk division. Eikos works to be as invested in your risk management as an internal department, an attitude which stems from the business’s primary value of client centricity. Due to its independent and agile nature, the team can also provide you with market access, introducing new brokers and insurers to your business.
A firm emphasis on analytics and modelling enables one to achieve efficiencies in the risk and insurance equation. Eikos-developed simulation models can range in complexity and the team actively encourages clients to access and take advantage of this focus area. Usage ranges from enabling one to find the optimum amount of risk to retain on one’s balance sheet, to more sophisticated modelling, which can help produce indicative pricing for insurance or reinsurance placements, creating a firmer process for checks and balances. The model allows one to dynamically change retention points, which in turn allows quick negotiation with the market so that any required adjustments can be made efficiently and effectively.
Through specialist vehicle Norfolk Re, Eikos is able to offer a broad range of (re)insurance solutions in order to support client placement structuring requirements as part of the consultancy offering.