Responsible | Reliable | Relevant
The Responsible, Reliable & Relevant insurance underwriter
Welcome to PARTNER RISK, the specialist insurance underwriter equipped with both the experience and expertise needed to provide innovative insurance and risk management solutions that make a difference.
PARTNER RISK provides a unique approach to risk mitigation and improvement, while rewarding large commercial clients with a low claims’ payback. We hold exclusive rights to use the Payback undertaking.
Payback is a component of the underwriting profit made by the PARTNER RISK payback portfolio of policies, that is distributed annually to qualifying clients for the main purpose of investing in risk improvements.
PARTNER RISK is a registered financial services provider, authorized by the Financial Services Board in South Africa, providing underwriting management services to our clients on behalf of our principal insurer – Guardrisk Insurance Company Ltd, and our reinsurers.
Unique approach to mitigating risk
PARTNER RISK has solid and respected industry partners built on enduring relationships to ensure valid claims are settled speedily. Our fast turnaround on service is attributed to our in-house built Risk Appetite Indicator and Threshold Claims Ratio (TCR) calculator.
Our Risk Appetite Indicator is designed to give you an indication of the PARTNER RISK risk appetite. Essentially, it gives you a prompt answer (max 24-hour turnaround) as to whether we would look at a risk or not.
The PARTNER RISK TCR (for each client and the overall company) are central to the calculation of payback’s. Paybacks’s are calculated at both a client and Payback portfolio level. The Threshold Claims Ratio calculations are determined actuarially, after making allowance for the non-claim components of the written premium, including the capital cost.
Your question is not here?
PARTNER RISK allocates a portion (5% x GWP) of its UMA fee to be applied to risk improvements, in addition to contributing to the standard cost of risk surveys. We call it ‘Payback’, and this undertaking is only available to insured clients where we have a lead-line.