We focus on transparency for all parties from local management to a foreign broker to executive headquartered management to be able to properly understand all elements of a scenario, and therefore, be able to make sound business decisions. Transparency is key! Ambiguity and vague interpretations lead to miscommunication, and ill-informed business decisions.
Managing risk globally must be a collaborative effort, and that requires answering tough questions that often go unasked. JKJ adheres to the philosophy that in-person meetings, whenever possible, are vital. Therefore, our team travels the world for meetings with company headquarters and subsidiaries.
Typically, respective insurance companies and brokers located in each country of a multinational organization do not effectively communicate with each other. Sometimes if different brokers or agents are representing an international client in each country there can be a tendency to perceive each other as a potential threat and become adversaries. Involving a global risk manager greatly diminishes the frequency of this negative potential.
Traditional solutions for multi-jurisdictional locations have been to find a broker in each respective country that can countersign the local policies and provide very basic insurance services, but international networks still focus on “dots on the map” rather than a rigorous analysis of organizational attributes of the insurance service provider.