Risk Assessment (IQRM)
Understanding IQRM
The IQRM risk assessment is an integral piece of the RISK SHIELD® Process as it measures exposures and determines the general effectiveness of strategies to manage risk. Most importantly, the IQRM facilitates our ability to improve your organization’s risk profile.
What is the Scoring Process?
The IQRM is designed to evaluate your organization’s management of risk. The scoring system determines effectiveness through the assessment of policies, procedures, and controls. We utilize a variety of techniques to identify, measure, and reduce risk while enhancing your organization’s performance through non-insurance solutions. Each decision about how to manage risk is designed to improve your business’ bottom line. When evaluating risks based on the criteria contained in the Risk Check Survey, you should consider the following in determining effectiveness:
Activities
Tasks and actions that create or implement risk management policies, practices, procedures, and programs.
Behaviors
Actions and conduct that affect performance – positively or negatively.
Internal Controls & Assessments
Internal processes, assessments, and frameworks for ensuring compliance with program goals.
Outcomes
Qualitative and quantitative measurements and metrics that assure the achievement of risk management and organizational goals and objectives.
Benefits of IQRM for Your Business
- Reduced liability exposure
- Cost savings through proactive risk management
- Early identification of risk before it becomes a claim
- Compliance support across policies and procedures
- A customized risk profile specific to your business
Our RISK SHIELD® Process
Most Fortune 500 companies have a full-time risk manager, but few small- to mid-size businesses can afford that luxury. With Gilbert’s Risk Solutions, you get a risk manager on your team through our proprietary RISK SHIELD® Process – proactive, diagnostic, and consultative, rather than just reactive insurance placement. We’ve been helping area businesses control their risks and protect their bottom lines for seven generations.
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Risk Assessment FAQs
IQRM stands for Intelligence Quotient for Risk Management, a scored assessment that evaluates your organization's risk management practices across key exposure areas. You'll answer a set of survey questions and receive a Risk Check Indicator Score along with a full report.
Most IQRM modules take just a few minutes to complete online. The number of modules relevant to your business depends on your industry and operations.
Any business owner or risk manager looking to understand their true risk exposure, beyond just their current insurance policy, can benefit from an IQRM assessment.
Once you receive your Risk Check Indicator Score, one of our risk advisors will walk through the results with you and help build a strategy to address any gaps identified.
