What Is It?
The IQRM is a quantifiable risk assessment tool consisting of a systematic method to better understand the risk issues facing your organization. It also benchmarks performance against ideal industry standards and facilitates the design of risk control and mitigation strategies. Each module has been crafted by one or more Subject Matter Experts.
The IQRM is an integral piece of the RISK SHIELD® Process as it measures exposures and determines the general effectiveness of strategies to manage risk. Most importantly, the IQRM facilitates our ability to improve your organization’s risk profile.
What Is the Scoring Process?
The IQRM is designed to evaluate your organization’s management of risk. The scoring system determines effectiveness through the assessment of policies, procedures, and controls. We utilize a variety of techniques to identify, measure, and reduce risk while enhancing your organization’s performance through non-insurance solutions. Each decision about how to manage risk is designed to improve your business’ bottom line. When evaluating risks based on the criteria contained in the Risk Check Survey, you should consider the following in determining effectiveness:
Activities
Tasks and actions that create or implement risk management policies, practices, procedures, and programs.
Behaviors
Actions and conduct that affect performance – positively or negatively.
Internal Controls & Assessments
Internal processes, assessments, and frameworks for ensuring compliance with program goals.
Outcomes
Qualitative and quantitative measurements and metrics that assure the achievement of risk management and organizational goals and objectives.
The Intelligence Quotient for Risk Management (IQRM) is the first step that we use to identify risks that have the potential to affect your business. Once identified, we will work together to develop and implement strategies to best manage these risks. The IQRM is an integral piece of our diagnostic process as it quantifiably assesses the risks facing your organization, considers best practices to control and mitigate these risks, and leverages the IQRM improvement process to achieve preferred results in the insurance marketplace.
Click Get Started to select the IQRM based on your business needs.
Once you have answered a handful of survey questions, you will receive your Risk Check Indicator Score and an opportunity to review your full report.