RAM is uniquely placed to interface between the insurer (for whom RAM acts as agent) and intermediaries and provides a bespoke underwriting, administration and marketing service in the group risk market.
The benefits of outsourcing to RAM are: -
- RAM's 'ready-made' experience, procedures and bespoke computer systems enable an insurer to expand into the group risk market 'immediately' without staffing, computer systems or other development requirements.
- The Insurer's operational costs will be reduced and fixed for budgeting purposes.
- By allowing RAM to arrange all operational aspects of the business, the insurer's time will be saved.
- The insurer can focus on the financial management of its portfolio.
- The insurer's aims of acquiring profitable quality business will be safeguarded; RAM's remuneration structure is based upon an alignment of interest with the insurer by way of a share in underwriting profits.
- RAM's flexible approach to working with partners in the market enables the insurer to achieve its required business model within pre-arranged authorities and service level agreements.
- Through RAM's activities in the market and active association with industry working groups, the insurer benefits from RAM 's feedback on product developments as well as technical and compliance requirements.
- RAM can introduce the insurer to reinsurers and assist in the negotiation of appropriate terms for scheme risks.