In the year Founded in 1946, Kapnik Insurance is an independent professional consulting firm with Michigan roots and international reach. Our 180+ colleagues provide expert guidance and creative problem solving in commercial insurance, risk solutions, employee benefits, workplace safety and personal insurance to a wide and diverse range of clients worldwide. We create. We are partners. We guide clients in new directions that reduce risk and reduce costs.
Kapnik Insurance’s Michael Spath discusses risk solutions with Kapnik Insurance expert Amy DeKeyser. Here are the highlights of that conversation.
Michael: Ask a Kapnik insurance expert. I’m Michael Spath. Amy DeKeyser, our Vice President of Risk Solutions at Kapnik, is here with me. Amy, thanks so much for joining us.
When one hears the term risk solutions, it can mean many different things to many people. What does Kapnik mean?
Amy: Risk solutions are really all about loss control and security, cost containment strategies, and more behavior-based–looking at one’s organization as a whole. It can also include security and other external resources.
Michael: One of the things we always talk about with our clients or our prospects is, how significant are your risks? Because your risks ultimately determine your vulnerabilities. And your exposures will determine how much premium you pay to cover those exposures.
If you can reduce those risks, you can reduce those exposures and, in theory, reduce those premiums. So, Amy, let me ask you, how important is it for any business to identify and address major risks, or in general, just understand where their risks are?
Amy: Well, especially in the current state of the market, those who don’t pay attention to what’s at stake are, to say the least, putting themselves out of business. People who don’t explore options for mitigating risks based on human behavior aren’t ticking the box, they’re not getting the contracts, they’re not getting the best rates.
Michael: I had a client who had a lot of workers’ comp claims because they had people who were at risk. And I know one of the things you just told me, well, what’s their protocol? What is the driver’s checklist before turning on the switch?
It seems like very simple things.
Amy: Absolutely. You can say that they are focusing on the tangibles, the investment, but they need to realize that their employees are also an investment.
So the person wants to protect the vehicle they’re getting into, so they do that checklist, check the mirrors, check the tires, check all of that. Mental health, physical. That person could be completely distracted, absenteeism is a much bigger problem these days, and you’re putting that person in a vehicle without realizing they’re completely focused.
So that’s where I talk about human behavior and investing in employees. If something happens at home that follows them to work. It costs the employer to help them dig deep and take care of that part.
Michael: So a little: Are you checking in regularly with your employees? Are you checking in with them every day?
Amy: Absolutely. You never know what that person is dealing with at home. You never know what that person is dealing with. Maybe it’s a security risk, financially, physically, emotionally, and therefore having distractions.
We talk a lot about mental health in this country, but what links mental health to well-being? In fact, it really matters.
That’s why it’s important to give employees opportunities to focus on their financial health, their mental health, their physical health while they’re at work. We spend more time at work than with our families.
So the more that employers can bring that piece and keep that human element, the more they’re finding that that’s an employee advantage. It is not often thought of. And with great turnover, it’s critical that we’re bringing in the pieces that keep our employees and make them feel valued.
Michael: Amy, how are risks in things like manufacturing different from construction, transportation? I guess the question is how different is each industry, the risks and solutions that Kapnick and you give to each industry?
Amy: At the end of the day, it all comes back to that part of the human body. They are still hiring people to do each one. It’s a matter of what security sensitive roles they are playing. So with the level of training required, where should your focus be, be it drug testing, additional certifications.
Michael: So take me a little bit further into this process. They say someone enters into a contract with Kapnick and I want to reduce my risk exposure. Where do you fit in and what role do you play for them and Kapnick?
Amy: for sure. The first step is not always to make assumptions. We want to understand the culture. So, first of all, let’s see their history. Where were they? That would be quite telling. We want to have boots on the ground. We conduct mock audits. And that’s raw for a client to treat because a lot of people can say yes, we’re going to do this. So do you have a safety program? Yes. Have you shared it with your employees? Yes. where is? Well, it’s in the binder, and when they’re hired, we’ll review it with them.
That could all change once we do the staff interviews.
A big thing is making sure we’re doing exactly what we say we’re going to do and making sure we’re sharing and training. So during that mock audit, we check a box that says yes, we have these policies and procedures in place, but we fail to actually implement them and we fail to follow through.
So that’s where we can build our timeline of what are the low-hanging fruit? Where do we start? What are some opportunities for us to immediately improve your safety culture? What are some things that may require capital? What are some of the things that will keep us sailing this ship for a long time?
And from there, we can tell their story in the marketplace. At Kapnik, we have a great relationship with our insurance carrier partners because some things can be a little hairy, but they know we’re closely involved. But we can tell a story to explain how we help them and how we commit to the whole process of writing, to help them get better.
So it’s not just a one-time consultation, here are your problems, go out and fix them. This builds our relationship throughout our time together.
Especially in my role, I like working with security managers. I am working with HR managers. I am working with the site moderators. I am working in the organization because those are the people that I have to make sure that they are giving that message to their organization and follow through on that.
Michael: I think you are talking about building a culture from the bottom to the top. Risk solutions are about creating that culture within the organization.
Amy: correct. You have to ask what is the importance of safety for the company owner to the hourly employee? And there should be a similar answer.
no i don’t if so A claim happens, it is. when is A claim occurs. That’s why we’re in the business we are, and you want to make sure those policies are there to protect you.
Michael: Amy, thanks so much for joining us.
