In this interview, we speak with Simon Glairy, an expert in the fields of insurance and Insurtech, with a specialized focus on risk management and AI-driven risk assessment.
How would you describe your approach to meeting with new clients?
When I meet with potential clients, I focus on a partner-first approach. This means understanding their unique challenges, growth objectives, and operational realities. I prefer in-person meetings as they provide a great opportunity to connect with business leaders in their own environment. This method helps me start conversations naturally, allowing me to better understand their operations and present their risk profile to insurance carriers effectively.
What do you mean by a partner-first approach to risk management?
A partner-first approach means prioritizing the client’s needs and goals over a traditional sales pitch. As a commercial insurance advisor, my role is different from that of a salesperson. I aim to collaborate with businesses, not sell to them. This involves deep dives into understanding their unique challenges and operational realities, which helps me offer tailored risk management solutions.
Can you tell us about the Bend-area hotel you helped with a high wildfire risk issue?
Certainly. The Bend-area hotel was facing a significant challenge due to its high wildfire risk. The property was about to lose its standard carrier coverage as it scored nearly 100 on underwriters’ risk assessment scales. To address this, I conducted an on-site risk assessment, documented the safety measures in place, and worked closely with hotel management. I built a compelling case for insurers, which allowed me to secure comprehensive coverage through a single carrier at a reasonable rate.
How does Marsh McLennan Agency’s local market knowledge benefit your clients?
Marsh McLennan Agency’s local market knowledge is a significant advantage for our clients. We leverage our deep understanding of the local business landscape and combine it with the global resources and connections of one of the world’s largest insurance brokers. This helps us provide tailored solutions, from risk assessment to claims advocacy, regardless of the client’s size.
What do you mean when you say insurance is just one tool in the risk management toolbox?
Insurance is indeed just one tool in managing risk. I look at the entire picture to determine what could potentially hinder a business from growing or achieving its goals. This comprehensive approach includes involving risk control specialists to identify potential issues that may have been missed and developing solutions beyond just insurance policies.
What are some of the uninsurable or too expensive risks that businesses might face?
Some risks are either uninsurable or too expensive for many businesses to insure. In such cases, we help businesses implement policies and procedures to address these risks. For example, structuring vendor contracts to transfer risk or utilizing loss control techniques to prevent claims from arising in the first place.
What changes have you observed in Central Oregon’s business landscape over the past decade?
Central Oregon’s business landscape has experienced significant growth, with new industries emerging and established businesses relocating from larger metropolitan areas. This evolution has created new opportunities and challenges for risk management. Increased networking and collaboration opportunities have also helped businesses access expertise and resources tailored to their specific needs.
Do you have any advice for our readers?
My advice for readers is to view risk management as an integral part of their business strategy rather than just another annual expense. Engage with a trusted advisor who can provide both local insights and global expertise. Regularly reassess your risk profile to ensure that your coverage evolves with your business’s needs. By doing so, you build a stronger foundation for growth and resilience.
