Insurance Risk Services

Manage the total cost of risk

Integrating risk and insurance strategy

The volatility of commercial insurance premiums makes achieving a cost-efficient insurance strategy more challenging than ever.

Yet insurance remains no less vital to effective risk management. Rising insurance costs reflect rising risks. To mitigate risk and protect your organization without adding significant expenses to your bottom line, you need to address the total cost of risk —deploying resilience and insurance strategies in tandem.

At BDO, we view risk holistically, helping organizations bridge the gaps between risk and insurance management to reduce inefficiencies, manage risk strategically, and drive costs down. We’ll work with you to develop a strategy around risk retention and transfer, informed by analytics that provide insight into historical industry losses, company-specific losses, corporate risk tolerance and insurance cost.  With our strong relationships with major insurers and brokerage firms, our team can help you evaluate risk transfer instruments, tailor your insurance policies, and negotiate lower premiums. 

Our services include:

  • Insurance Program Assessment and Policy Evaluations
  • Outsourced Risk Management Support
  • Internal Audit & Expert Witness Support
  • RMIS Assessments and Implementation
  • Captive Feasibility and Utilization Reviews
  • Vendor and Third-Party Risk Transfer Assessments

How BDO Can Help


Often, insurance is purchased as a “check the box” effort, with minimal thought given to the organization’s retention and transfer strategy or to why insurance is the chosen method of risk management. 

We provide a holistic solution to why, how, and when insurance is used as an efficient risk management tool, with services including:
  • Insurance Purchasing Frameworks
  • Risk retention and transfer strategies
  • Data organization 
  • Global insurance program design 
  • Brokerage and insurance company relationship management
  • Insurance policy design and structure
  • Claims process evaluation and automation

It takes the right team to develop a comprehensive insurance program and design KPI’s to manage the vendors needed to run the program. We help you manage the insurance vendor process, with services including:
  • Vendor performance evaluations
  • Vendor competitions
  • Vendor KPI development and evaluation

Captives can have an important role in your overall risk strategy by enhancing operational and tax efficiencies.

Our professionals work closely in the design, formation, and implementation of captive programs with services including:
  • Feasibility and licensing support
  • Implementation
  • Re-feasibility (utilization Study)
  • Post-merger restructuring

Risk and insurance management are specialized functions that require technical experience to properly manage the function while keeping an eye on costs of employee headcount, payroll, and related benefits. We provide flexible models in the areas of:
  • Outsourced insurance risk management
  • Limited engagement staffing
  • Co-Sourced insurance risk management

Insurance Risk & Recovery Case Studies

Insurance Risk & Recovery Insights

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Meet Our Insurance Risk Services Leader

Do work that matters, where you matter.

At BDO, you can do much more than fulfill your career ambitions — here, you can explore your full potential. That’s because we’re committed to helping our employees achieve on both personal and professional levels.