What We Do
Problem solving for every client is at the core of SIR skills and services. Most RMIS services address “what has happened.” Shelter Island Risk focuses on “why is this happening?” and “what can be done about it.” SIR’s out-of-box thinking combines the worlds of risk and claims management as well as systems management. We make RMIS services perform at higher levels ― better than the usual 20% of its potential.
At SIR, we don’t create the software used or produce risk data; we create effective working solutions. We help clients specify and select RMIS and claims management systems, providing expertise to successfully implement RMIS and audit accurate data loading.
We bring our broad risk management experience and expertise to elevate RMIS for applications from data mining and statistical modeling to actuarial needs and cost control. We bring active solutions to answer your specific needs.
Shelter Island Risk operates with focus and deliberation. To paraphrase General Ted Roosevelt Jr.’s call to action on the Normandy beaches, we’ll start by finding your solution, reflecting his oft-quoted statement, “Do what you can, with what you have, where you are.”
The SIR advantages include:
- Operating independently of any vendors, brokers or insurers
- Using technology-based approaches for data collection, analysis and reporting
- Bringing regulatory, legal and financial knowledge to risk management decision-making
- Developing client partnerships based on creative service and attention to detail
SIR accompanies our clients throughout each project, from needs analysis through successful implementation. With more than thirty years of cumulative experience in the industry, the SIR team will improve your RMIS, and effect smart solutions for risk managers.
The SIR Team will select and design, implement and improve your RMIS.
The path from design to selection, implementation and operation is often unmarked, with hazards at every turn. Vendor demos don’t always translate into reality; programs rarely perform as expected.
Information is even more crucial to risk management today — the stakes are huge. The job of the risk manager is more complex than ever, with smaller staff, more priorities and an ever-complicated decision-making process.
The SIR team focuses on using what you have more effectively, and without requiring additional software. We obtain more value from current system investments, helping to define and tailor RMIS needs for the best possible fit.
We understand your needs, and can generate the RFP, evaluate responses, negotiate contracts, monitor implementation and support ongoing operations. The SIR experts will be part of your team; helping you, your staff and your organization.
Scorecards and Analytics
SIR provides benchmarking through statistical methods and data mining, we can identify critical deviations and drill into root causes of loss.
SIR can demonstrate how to feature cost reduction initiatives, identify areas for improvement and help create concise and informative presentations for leadership teams and senior executives.
Risk Finance and Insurance
SIR will analyze, test and target areas for enhancement, improving claims and risk management systems, cost allocations, data maintenance and reporting.
We’re experts at moving information from where it originated to where it is most needed.
Who benefits from SIR expertise? Actuaries, brokers and captives can all benefit from SIR’s skills and services — each one according to their own specific need.
- Timely loss development triangles for actuaries.
- Computer simulations of alternative retention levels or aggregate stop losses for brokers.
- Estimates of loss reserves to drive investment choices that will stimulate cash flows for captives.