Uninsured Losses Eliminated

Organisations today continue to face major and day to day operational events that have the potential to disrupt business operations and threaten employee safety. From civil unrest to severe weather to health and safety, organisations need a process to monitor, assess, and efficiently communicate and respond to all types of threats that could impact them. This is a core capability of an effective organisational resilience program.

The “Iceberg” Analogy

Visible costs are just the tip of the iceberg. Hidden costs – such as lost productivity and damaged reputation – are much larger and more significant. Therefore, investing in a CEM platform is not expensive, but a crucial investment in a business’s sustainability and success.

By integrating CEM capabilities, it effectively mitigates financial and operational impacts of incidents, addressing costs typically not covered by insurance policies, including.

Underinsurance
Policy exclusions
Deductibles
Business interruption
Wear and tear
Floods and earthquakes
Negligence or intentional acts
Loss of valuable papers or documents
Loss of sentimental value
Consequential losses

These issues cost British employers an estimated £20.7 billion in 2021/22. Most businesses underestimate these costs, assuming insurance covers them. However, uninsured losses are ten times higher than insurance premiums. For smaller firms, this can mean £315 per employee annually. *

Other uninsured costs to consider:

Lost time and sick pay
Damage to products and raw materials
Repairs to equipment
Extra wages and temporary labor
Production delays
Investigation time and legal costs
Fines and loss of contracts

Accidents also harm business reputation, reduce workforce morale, and lead to higher insurance premiums or even refusal of coverage.

Improve underwriting, and safeguard people and property.
How can a CEM platform can help?

As a critical event management platform solution, our goal is to empower organisations and insurance providers to make swift, well-informed decisions that protect individuals, assets, and operations. We recognise the challenge of distilling vast data into accurate insights crucial for effective risk mitigation and proactive safeguarding.

Our Zinc platform for Critical Event Management (CEM) delivers real-time, actionable intelligence, enabling organisations and insurers to ensure the safety and informed coordination of customers and employees during critical events. Whether preparing for increased claims post-natural disasters or swiftly evacuating insured parties facing imminent danger, our platform excels in identifying threats and facilitating prompt responses.

By integrating risk intelligence with robust incident management and acclaimed critical communications capabilities, our solution enhances:

Early detection and assessment of adverse events.
Proactive risk management to improve loss ratios.
Timely insights to address underwriting knowledge gaps.
Swift identification of suspicious activities to mitigate incidents.
Guided responses throughout the critical event lifecycle.
Audited data capture to improve claim defensibility

How can a CEM bolster operational resilience?

Leveraging our platform, insurance providers and organisations bolster operational resilience against disruptions, safeguarding stakeholders comprehensively. Essential to any organisational defence, CEM ensures rapid, coordinated incident responses, minimising disruptions and potential damages. It fortifies people, assets, and operations, reducing financial impacts during crises and enhancing overall resilience.

The Zinc platform effectively eliminates uninsured losses through a structured, proactive approach to incident and crisis management:

Swift Response: Enables immediate action during incidents, minimising potential escalation and financial impact.
Effective Communication: Facilitates real-time, coordinated communication among stakeholders to prevent misunderstandings and mismanagement.
Risk Mitigation: Identifies and mitigates risks early to prevent incidents from occurring or escalating, reducing uninsured loss risks.
Business Continuity: Supports the development and execution of business continuity plans for quick operational recovery post-incident, minimising downtime costs.
Data and Asset Protection: Implements measures to safeguard critical data and assets, mitigating risks beyond standard insurance coverage.
Compliance and Safety: Ensures adherence to safety and regulatory standards, preventing fines and legal issues often not covered by insurance.
Optimised Resource Allocation: Efficiently deploys resources during incidents, minimising waste and unnecessary expenses.

The Zinc Critical Event Management (CEM) platform seamlessly integrates data feeds from diverse emergency incidents, enhancing operational preparedness by delivering enriched contextual intelligence. It features an intuitive dashboard that consolidates all critical information into a unified interface. This capability empowers teams to swiftly visualise and comprehend situational dynamics from a singular location.

Additionally, the platform enables organisations to proactively prepare with automated and templated communications aligned with standard operating procedures. This preparedness facilitates quicker decision-making and expedites operational recovery, thereby minimising the disruptive impact of events. By leveraging these advanced capabilities, organisations can enhance their readiness to effectively respond to critical events and ensure continuity of operations.

*Source: RoSPA

Learn more about how Zinc can support your organisation in the modern era its features and capabilities here.

Existing Customers

Guides

Login

Why is Critical Event Management important?