The Insurer Carrot - how to get your insurer to fund safety

Safety And Risk Success

Ever wondered how to get your insurer to fund safety improvements? Well, we've got the answer for you! In this episode of the Safety and Risk Success Podcast, we unpack the concept of the "Insurer Carrot," a little-known secret that can help you secure the funding you need to improve safety in your business.

Highlights:

- Insurers care about safety because it reduces their costs. : Safety improvements are profitable for insurers.

- Insurance companies are looking for ways to reduce claims. : They want to see a lower cost of claims and a higher trading profit.

- There are many ways that insurers will fund safety projects. : They may offer bursaries for driver training, safety equipment, etc.

- Make sure your risk management is good. : They are more likely to fund your projects if you have a strong risk management system.

- Insurance companies are looking for quick wins to reduce claims. : Focus on projects that can immediately impact claims.

- Make the case to your broker. : Explain how safety improvements will help their bottom line.

- There’s a financial case to be made for proactive safety. : You can save the insurance company money, which is important to them.

Actions:

- Sign up for a future Safety Roundtable: https://safetyroundtable.co.uk/

- Connect with Christian on LinkedIn: https://www.linkedin.com/in/christian-harris-slip-safety/