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 bonus (Payback). We hold exclusive rights to use the Payback undertaking.
Payback is a component of the underwriting profit made by PARTNER RISK. Payback only applies to the lead-line policies by PARTNER RISK.
Due and payable Payback amounts are applied only to risk management expenditure as agreed between the Insured client and PARTNER RISK.
PARTNER RISK is a registered financial services provider, authorized by the Financial Services Conduct Authority 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 bespoke risk selection and claims settlement systems.
Our in-house built 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 accepting a risk or not.
A calculated Threshold Claims Ratio for each client is central to the calculation of the Payback. The Threshold Claims Ratio calculations are determined actuarially, after making allowance for the non-claim components of the written premium, including the capital cost.
Professional partnership approach
Our services and expertise provide professional insurance and risk management solutions that are reliable, responsible and relevant to both medium-sized and large entities in the private sector across Southern Africa.
Effective and sustainable business
PARTNER RISK offers risk-managed solutions while delivering professional and sound advice. By providing innovative, cost-effective and integrated solutions we assist our commercial clients in creating an effective and sustainable business.
Professional service and sound advice
Supporting our unique value proposition are our standards of integrity, good faith, honesty and fairness. We are relentless about our brokers’ and insured clients’ satisfaction and are proactive in meeting their every demand.
PARTNER RISK has systems and underwriting methodologies to build a sustainable portfolio
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Our Payback explained
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.