The services offered by this division of Risk Watch is unique in the Nigerian Insurance market. Our focus is the management and control of risks transfer costs and assisting organisations to add immediate value to their balance sheet. In 2001 Risk Financing Options Ltd. was incorporated to carry on the activities of this division in order to expand the scope of its operations and take advantage of developments in the operating environment of the financial service sector and other conglomerates .
We have currently under management 3 Risk Retention Funds with reserves in excess of N3 Billion and a yearly premium close to N1 Billion on each account with the risk fund protection arrangement by Re-Insurance through reputable Re-insurers.
The operations of Risk Financing Options Ltd is focused on the following areas:
Outsourcing
Where required, Risk Financing Options Ltd will provide back-office operations for institutions that do not want to operate an internal insurance department or those who do not want to set up an insurance company.
In this respect we will provide the following services:
- Underwriting
- Claims Administration
- Management Information
- Compliance Monitoring
Insurance Consulting
- Insurance Audits
- Insurance Company Formation or Acquisition
- Captive Management
- Product Development
Risk Management
Working with organizations to make a paradigm shift from buying insurance to managing risks.
he objective being to arrive at an optimal mix between insurance and pure risk control expenditures, and self insurance for each organization.
This can sometimes involve developing Alternate Risk Transfer strategies for some of the risks the organization is exposed to.
We work with clients in the areas of:
- Risk Identification
- Risk Analysis
- Risk Control