Insurance company RSA UK&I (RSA) has rolled out five industry practices within its Global Risk Solutions business.
Image: RSA's London offices at 20 Fenchurch Street. Photo: courtesy of Diliff/Wikipedia.
The firm said that the new rail, chemical, food & beverage, real estate, and renewables practices, will be led by experts in each of their fields.
Working in conjunction with P&L Leaders, the experts will be responsible for proposition development and marketing, managing key customer and associated broker relationships, as well as for overall profitability and growth of the practice.
RSA said that the new industry practices cover areas where it already has strong expertise as well as a broad risk appetite.
Commenting on the launch of RSA’s industry practices, Global Risk Solutions customer experience director Neil Strickland said: “RSA’s Global Risk Solutions is focused on industries where we see the opportunity for strong profitable growth, and today’s launch of focused industry practices showcases the areas in which we feel confident we can grow, and continue to win business through our deep expertise in across underwriting, risk consulting and claims.
“We are already market leading in several of the practices launched today – including Rail and Renewables – and are targeting a leadership position in those practices where our proposition is still developing.”
The firm initially plans to focus on rail industry and will carry out an initial engagement program with brokers, customers and the wider industry. This will be followed by the other practices throughout this year.
In 2018, RSA Insurance Group has introduced a suite of coverage solutions for large, multinational businesses to protect against cyber security breaches.
The new product range is an extension of the existing cyber product portfolio for small and medium enterprises (SMEs), RSA stated.
It offers comprehensive cover, assistance with provision for risk assessment and management of all the post-event services, when a cyber event takes place.
The Cyber protection includes an option for a detailed cyber risk assessment to help identify and reduce potential cyber risks. The risk assessment service is provided by Deloitte and it enables companies to obtain valuable insight into their cyber security preparedness.