A Virtual Company?
Not exactly ! Commonwealth Risk Management, Inc. dedicates itself to providing its clients with the highest level of expertise at a most competitive cost. But how did we structure a company to accomplish that goal? The first step was to have a top-notch management team focused on the task. You must have dedicated full-time staff, whose reputation and success depend strictly on the performance and results of the company. Furthermore, that staff must have the credentials, experience and expertise to know what to do, and how best to accomplish it. With almost 50 years of risk management and insurance experience, including company, agent, broker, consulting and captive management, we have created that management team. |
A Virtual Component? – Yes ! But how do we best access optimal industry resources in every area of focus? That is where we add a virtual component. Many of our larger competitors have elected to hire full time staff. This results in very significant overhead and expenses that must be passed on to their clients. Perhaps even more detrimental is the effect it has on performance. Once these organizations hire a person with specific skills or knowledge, all the solutions for all clients tend to be focused in the direction of their personnel, rather than on what is best for the client. At Commonwealth Risk Management, Inc., our primary goal is to understand your organization, your goals, your mission and your risk tolerance. Once we know what is important to you, we determine what expertise is needed to best serve your organization specifically. Since it is virtually impossible to maintain a staff large enough to serve every potential need of every client, we use a virtual structure to accomplish the same goal. |
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The expertise needed to meet your needs can be found in a wide variety of places. Not only are there experts currently employed in the fields of risk management and insurance, but they exist in many different industries and even on the staffs of our clients.
Our strategy was to find where specific expertise existed, where it could be accessed at a cost-effective level, and how we could team with those providers to create synergy. Our model consists of a series of relationships with other organizations. These range from other consultants, to insurance companies, risk management firms, third party administrators, captive management companies and experts in specific industries such as healthcare, environmental, property management, etc.
The unique insight gained by using people in the industries we serve helps us understand your perspective. The availability of non-competing experts gives you answers focused on the needs at hand. And because our affiliates operate their own successful and profitable organizations, we are able to access their services at the marginal cost to provide service specific to your needs. |
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Commonwealth Risk 