Risk Management Plan
RISK MANAGEMENT PLAN
Introduction:
Bustos Insurance is an organisation that caters to providing the members of the community affordable and reliable insurance service. The company was established in 1990, and for the past 23 years has been recognized as one of the leading insurance companies in the country. Our Insurance options range from basic personal insurance cover to the most intricate family and house insurance.
As a continuously thriving organisation, it is essential that a Risk Management Plan be put into place. This is to ensure that any potential threat to our company’s success is mitigated early on.
Stakeholder Analysis:
Stakeholder
A Stakeholder is an individual or a group of people who have vested interest in a company. Stakeholders are those who can also be affected by the company’s success or demise. There are two types of stakeholders – internal and external. Internal stakeholders consist of owners, employees and managers while external stakeholders consist of the customers and the government.
The following are the important stakeholders of our company:
Employees – They are at the front-end of our business. They consist of Case Managers, Claims Officers and Technical Team Leaders among others. They provide services by managing and looking after our customers’ insurance claims.
Senior Managers – Senior Managers are the backbone of the company. They are responsible for reviewing how the company performs and ensuring that appropriate action plans are readily available in case of negative performance results.
Owners – The company owners’ and major shareholders oversee that there is sufficient working capital for its cash flow and pay wages and salaries to staff and other overhead expenses.
Customers - Customers are individuals who purchase and receive goods and services provided by a company. A company will not meet its target if no customers are to buy its services.
Government – The government will also
Introduction:
Bustos Insurance is an organisation that caters to providing the members of the community affordable and reliable insurance service. The company was established in 1990, and for the past 23 years has been recognized as one of the leading insurance companies in the country. Our Insurance options range from basic personal insurance cover to the most intricate family and house insurance.
As a continuously thriving organisation, it is essential that a Risk Management Plan be put into place. This is to ensure that any potential threat to our company’s success is mitigated early on.
Stakeholder Analysis:
Stakeholder
A Stakeholder is an individual or a group of people who have vested interest in a company. Stakeholders are those who can also be affected by the company’s success or demise. There are two types of stakeholders – internal and external. Internal stakeholders consist of owners, employees and managers while external stakeholders consist of the customers and the government.
The following are the important stakeholders of our company:
Employees – They are at the front-end of our business. They consist of Case Managers, Claims Officers and Technical Team Leaders among others. They provide services by managing and looking after our customers’ insurance claims.
Senior Managers – Senior Managers are the backbone of the company. They are responsible for reviewing how the company performs and ensuring that appropriate action plans are readily available in case of negative performance results.
Owners – The company owners’ and major shareholders oversee that there is sufficient working capital for its cash flow and pay wages and salaries to staff and other overhead expenses.
Customers - Customers are individuals who purchase and receive goods and services provided by a company. A company will not meet its target if no customers are to buy its services.
Government – The government will also