Corporate Training
Our insurance training programs for corporates can educate your Executives, help your company to mitigate risks & determine the optimum insurance coverage needed to protect your business.
Why is corporate training necessary?
In today’s competitive marketplace that is changing rapidly and growing every day, it is crucial for any company to keep bolstering their risk management efforts in order to maintain the success streak. Each business entity is distinct and has its own set of challenges and its own specific risks. There is no “one size fits all” when it comes to skill development.
It is no secret that one of the keys to success in the business world is employees with strong risk management and insurance coverage capabilities. Companies should invest in their employees’ risk management training in order to maximize the capability to systematically understand, monitor and cover/mitigate their ever-increasing risks. One way employers are able to do this is by instituting regular training sessions for its key executives.
We can do this, customizing a program for you on industry losses, what caused them, lessons learnt and their relevance for you to update your risk profile. This may come in the form of skill development workshops, team meetings, case studies or webinars that further help employees stay current with technological advances and best practices. We can also bring in special skills that are hard to teach with our dedicated people.
Corporate training is an investment of your time and money, but it pays off with more skilled employees who work better together.
Hire OR Train OR Hire & Train
Commercial real estate can carry more liability risks than residential properties because of the number of people and quantum of money involved in transactions. A hospital can be liable for the faulty care of their patients. A software company can be liable for the security & reliability of its products. A manufacturing company can be liable for the quality of the products it sells or pollution it creates. A construction company will carry more liability risks because it is often dealing with hazardous materials and construction sites posing dangers to lives or third party properties. A hospitality industry has a lot of risks because it’s dealing with people.
In all these entities, risks are best appreciated by insiders, but due to lack of adequate risk management training/insurance skilling, they are unable to effectively manage the risks. Companies have suffered by hiring “externally experienced people” from outside, rather than training internal candidates with potential & intricate inside knowledge.
Regardless of the type of business, the key to minimizing your risk is to identify, quantify, analyse the risks and then determine how to mitigate it. This is why it’s important to have a trained & skilled set of your own insiders to manage risks.
Insurance Companies and their Intermediaries, Insurance Law Firms or Insurance Surveyors also lack specialised risk & insurance skills which need to be similarly honed, so that they can be working smartly & profitably with their Clients.
As adequate skills are not available with these organisations while business is growing, they are under pressure to either recruit or train their executives. They end up with hired executives who do not fit in the organisation or adequate skilled people are not simply available. We come in exactly here to do training sessions for identified executives.
Guiding Light in the sea of risk management
Almost all companies rely on insurance as a form of protection and risk management. The plethora of policies that are offered by insurers vary in coverage and price. Sometimes even Insurers, Brokers or Surveyors are surprised to see certain clauses or fail to understand them; therefore, it is critical for companies to educate themselves and their employees through training sessions and seminars on the nuances of various policies. Corporate training on business insurance can help choose or customise your insurance coverage. This will protect your company’s investments, employees and other stake-holders and also avoid potential liabilities. The goal of this type of training is to de-mystify insurance and risk management to your employees about coverage of different types of risks, how to deal with claims, loss prevention, how to prevent the need for litigation down the line and special aspects of insurance litigation. Our bespoke corporate insurance training covers all the finer points in detail.
Cornerstones of our program are Classroom, Field Visits, Animation or other relevant Videos, Case Studies & Meet The Experts, standing out unique compared to other similar programs. If you like, we can even train the trainers in your organisation to ensure skill development is effective continuously.
Project Risks
Quality of Project management determines a company’s success or failure. Projects have a great potential for cost and/or schedule overruns. Project managers have a lot on their plates while managing a project. Project supply chain management, contract management and insurance Management are key features in project management. These three aspects can significantly reduce losses that result from unexpected events. The project manager should have a deep understanding of the variety of risks associated with their project to know what type of supply chain risk management contract or insurance coverage is needed. The corporate training program revolves around providing industry specific knowledge and assistance about not only how to get a proper insurance coverage, but how to structure your project supply chain or contracts or how to manage them. We can also train your Project Management team on how to prepare and manage a Project Risk Register. There are hardly a few in the country who can simplify & impart knowledge in subjects such as Advanced Loss of Profit or Marine Delayed Start-Up Insurances.
Cyber Risks
India is moving from Manufacturing to Services oriented Industries, as one can make out from the number of IPOs recently from Technology/Web-based on-line B2B, B2C & C2C Services. Services industry is exposed to on-line frauds, attacks and threats just like in the US and it is all the more essential for each of them to have a cyber risk cover.
A training on cyber risks is first necessary for the key executives in these companies, covering development of a risk-map & risk register, types of covers available in market, policy wordings & catches. We can run this program for you with an interactive risk-mapping exercise, workshop on various risk scenarios and types of cover market provides.
We analyse your IT & OT risks in consultation with relevant people and experts in the field and design your program. We could first give you a score if the risks are hot, lukewarm and cold (i.e yet to develop!) and give reasons, before embarking on the training program.
Liabilities
While Pharma, Hospitality, News/Media & Entertainment industries in the US were traditionally open to multi-billion Dollar suits, now this has become more wide spread covering Law-Firms, Accountants, Architects, Construction Companies or even Charitable Institutions, Churches, Utility Companies & Counties.
India is also facing similar liability cases, moving away from cases involving auto-accidents or hospital mis-handling. If you are therefore in any manufacturing or service Industry, you better start reviewing your risks fully towards public or other customers.
We can not only run a work shop for you on risk-mapping, but also discuss case-studies and covers available for you in the Industry.
Indian Companies’ exposure to Marine & Shipping/Aviation world is going up, thanks to increase in trade volumes. Hence, apart from increase in marine cargo & supply chain risks, there is a growing liability towards international shipping lines, ports, other vessels, cargo owners & public at sea, operating in same water as Indian Traders’ Ships. Also lot of recent court decisions on marine liabilities have made liability of ship operator/cargo owner/terminal operator clearer.
Marine Law experts or Marine Insurance & Claims experts are few in the country and our program will help your firm create experts in relevant areas.
Many of these Operators in India therefore need to now become paranoid about Marine Liabilities. Our training helps in this regard in more than one way: Do a Risk-Map and quantify exposures, chart out coverage plan, de-mystify policy wordings & how to secure an effective cover.
Course Overview
Even before starting our program, we use tools and special interview techniques to firstly present a broad risk map/infographic. The idea is to prioritize the training areas in agreement with you.
Along with teaching common insurance concepts like Indemnity, Good Faith Representation Views of Opposing Sides, need for IT and Process Orientation; we have 4 training modules outlined below.
Please choose one module at a time. Each training module spans 14 weeks with 10 hours of training per week.
Marine, Hull & Offshore Insurance
Marine Transit insurance – understand what risks are insured & what are not.
Various types of Marine Insurance policies – Learn when you need what type and differences
Supply Chain Insurance & Interface with Banking/ Customs/ Shipping Lines
Hull Insurance – Risks covered, not covered, Innocent Owners & Interface with Ports
General Average
Offshore Properties e.g. Platforms, SPMs, Pipelines
Special Contingency insurance
Various Marine related Contracts
Liability Insurance
Liabilities in Shipping, Marine and Offshore Property Areas for Cargo Owners, Ship Owners, Ports, Charterers and Other Offshore Property Owners
Protection & Indemnity (P&I) insurance
International Conventions for marine liabilities
Aviation Liability
Legal Public Liability
Pollution & other Third Party Liabilities
Project Liabilities
D&O, E&O, Media-Tech & Employer Liabilities
Property Insurance
Simple Property Risks to big Business Property Risks
Machinery Breakdowns
Business Contingency Risks
Insurance Products available, what are covered & what are not.
How to arrive at Sum Insured before cover & Under-insurance issues
Claims calculations for Property Damage & Business Interruption
Value-Adjustable Policies
Warranties & Conditions in the Policies
Cyber Risks
Terrorism & War Risks
Importance of Full Disclosures
Project Insurance
Erection All Risks cover for Projects – what risks are covered
Latent Defect Risks
Advance Loss of Profit Insurance
Claim quantification method
Project Values, Under-insurance and adjustments
Project Cargo Insurance
Closure of Project Insurance & Transition to Operational Cover
Issues in Brownfield Projects
Defects Liability Insurance
Why choose Energy First?
We, at Energy First, have adopted a 360˚ learning methodology. Prominent thinkers like John Dewey and Maria Montessori were early proponents of this type of learning, researching new methods for how humans learn best. 360˚ learning is a method that combines all of the different types of learning into one comprehensive approach.
It takes advantage of how human brains learn by providing opportunities for students to explore, collaborate, and take risks without consequence. With the incorporation of this form of learning, students are not only able to better retain information and become more proficient in their skills but also teach others in your organization. This type of learning is also great for those who have difficulty following only lecture-based teachings.
Classroom Training
Training in the classroom is an essential aspect of learning. A classroom environment can foster creativity and collaboration and helps ensure the students are comfortable with the topic before moving on.
Quality Courseware & Training Faculty
Coupled with our carefully crafted course material, you will be learning from our specialist faculty trainers while validating various concepts with them in person. The courseware includes animation and other video learning tools for complicated topics.
Case Studies
Case studies are a great way to learn from mistakes and successes of others. They provide an opportunity to explore the details of a situation and examine the consequences of different actions. Using case studies for training is known to boost the cognitive skills of the trainees.
Field Visits
Field visits as a learning tool have been proven to enhance student understanding of course materials. They force students to get outside the classroom and have real life experiences in their field of study. This increases their observational skills, helps them explore with their own senses, and gives them an understanding that cannot be learned from reading textbooks or watching videos online. A field trip also allows them to see how their education applies outside the classroom.
Periodic Assessment & Feedback
As an instructor, it can be difficult to know how the students are performing on the coursework. In order to get a more qualitative understanding of the students' progress, periodic assessment and feedback is an effective tool. This is also essential for students to evaluate their own progress.
Expert Lectures
Our expert lectures are training sessions conducted by on-field professionals sharing the best practices in their industries. Not only does this helps showcases up-to-date research about their particular industry but it also gives them a chance to pass down their techniques and skills to younger generations of professionals.