Lockton, the world’s largest privately-owned insurance broker, today announced the launch of an in-house risk management consultancy and the appointment of Ben Crowther as Head of Risk Consulting.
In leading the Risk Consulting practice, Mr. Crowther will partner with Lockton’s brokers to help clients identify the areas of risk requiring attention and design tailored strategies to address clients’ risk management challenges. This alignment with Lockton’s client service teams is set to positively influence and deliver superior outcomes at insurance renewals. For example, removing the risk of under-insurance, reducing total cost of risk or enhancing risk maturity.
Mr. Crowther said: “Our new in-house practice marks a significant advancement in the risk management services at Lockton. By delivering critical services like insurable risk profiling, valuations, and business interruption reviews, Lockton is solidifying its position as a more relevant, trusted advisor and collaborator in our clients’ wider risk management strategies.”
Over the past decade, Mr. Crowther has gained extensive experience overseeing the delivery of client projects, personally consulting in the areas of risk assessment and stress-testing insurance programs, in addition to project managing the delivery of advanced risk quantification, business continuity, asset valuation, risk engineering and complex business interruption claims preparation projects.
Commenting on the new Risk Consulting practice, Paul Marsden, Lockton Pacific CEO, said, “We’ve been listening to our clients and evidently, the risks our clients are facing are only becoming more complex. By establishing in-house risk consulting capabilities, Lockton will add value to our clients’ businesses and address gaps or capacity challenges amongst their own internal risk management expertise.”
Mr. Marsden added: “We are one of a few brokers offering risk management consulting, and while our industry peers may have risk consultants in-house, industry feedback tells us they are often siloed or disconnected. We’ll also be linking risk management consulting right across the insurance cycle, so it’s not in isolation. This is important as we’ve identified that integrated risk and broking propositions are typically only reserved for top companies, presenting an opportunity for Lockton to make an impact in the mid-market space.”
Mr. Crowther said that as the team grows, Lockton will only deploy the right risk consultants for the job at hand and do what’s in the best interests of the client. “Whether that’s putting forward bespoke in-house capabilities or leveraging an extensive network of preferred specialist contractors which Lockton clients can tap into, we’ll be giving choice to clients,” Mr. Crowther concluded.
About Lockton
Lockton's private ownership empowers its 11,700+ Associates doing business in over 140 countries to focus solely on clients' risk, insurance and people needs. With expertise that reaches around the globe, Lockton delivers the deep understanding needed to accomplish remarkable results.
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