What can Jeremy Starr Consulting do for your company? The table below provides four examples of services we provide our clients.
Of course, there’s an endless variety of business situations, so please contact us (use the form ➜) to discuss your business challenges, even if they don’t seem to fit into any of the categories below.
|Risk Mitigation: Assess Your Current Risks, Propose/Implement New Strategy||Many insurers tend to overlook how reinsurance fits into their company-wide risk mitigation strategy. Some purchase life reinsurance—Yearly Renewable Term, Coinsurance and/or Modified Coinsurance—without fully assessing their company’s current risks, or how well their reinsurance choice(s) protect against those risks.
⇛ Jeremy Starr has conducted risk assessments for a wide variety of insurers, and can do the same for you. The result will be a risk-mitigation strategy tailored specifically to your company’s needs.
|Aid in Launch of New Product||Your company has done extensive research on your target market and has developed a unique product to meet their needs. Unfortunately, the initial capital requirements are overly burdensome.
⇛ Let Jeremy Starr work with you to develop a financially oriented reinsurance structure that overcomes this source of surplus strain. As a licensed reinsurance intermediary, Jeremy can also help place these programs. With his many industry contacts, Jeremy can bring new reinsurers to the table and thus keep your company’s exposure to any one reinsurer within risk tolerances.
|Selling or Acquiring Lines of Business||The insurance industry has begun implementing ORSA (Own Risk and Solvency Assessment), the standardized practice of insurers internally evaluating their risk-management programs, solvency positions, and more. When ORSA indicates that a line of business is too high-risk or the return achieved is not adequate for the risk taken, a reinsurance transaction can enable the insurer to sell the business. Or, if the line of business is important to the company’s strategy but is too small to cover expenses, the insurer can supplement it with a similar, profitable line of business acquired from another insurer, making the entire line of business more profitable.
⇛ Either way, Jeremy Starr’s decades of reinsurance knowledge and experience, combined with his extensive industry contacts and negotiating skills, can enable the insurer to achieve a better risk/reward balance.
|Arbitration -or- Expert Witness Support for Reinsurance Disputes||Older reinsurance agreements were often written in good faith (a “gentlemen’s agreement”) with few details on how to handle unexpected events. While today’s agreements better anticipate a wider range of scenarios, insurers and reinsurers can still have conflicts that need arbitration.
⇛ Jeremy has earned the Certified Arbitrator credential granted by ARIAS·US (AIDA Reinsurance and Insurance Arbitration Society), a not-for-profit organization that promotes improvement of the insurance and reinsurance arbitration process. He is also experienced as an expert witness in insurance and reinsurance legal cases.