In the world of insurance agencies, brokers and underwriters, risk and insurance are inseparable. You will need to identify the risks of each client to find the best insurance to cover them. You will also need to understand how the underwriters value those risks to help your clients have lower premiums and better accepted claims. You can also help reduce some common risks and identify some that you or your clients may not initially think about.

Once you understand what the risks are that your clients face, you can strategize ways to reduce those risks and optimize insurance coverage. This can end up saving both your client and the insurer from unnecessary claims and damages. Risks for business clients will often include natural disaster damages, slip-and-fall accidents and even theft. By working with the underwriters and with brokers experienced in the industry, you can identify and reduce more risks to help keep premiums low.

Risk and insurance are the bread and butter of insurance agencies, brokerages and underwriters. Risks are identified, and the potential damages are quantified in order to set the rates for different plans, packages and policies. The more you know about the risks your clients face, the easier it will be to design the right plans for each of them.