RESPONSIBLE | RELIABLE | RELEVANT
Elevating Underwriting Standards
Customised Insurance Solutions for Commercial Risks
Step into our world of specialised underwriting excellence, where we surpass your expectations. We’re your trusted partner, offering comprehensive insurance solutions that safeguard property from damage and loss, all enhanced by our unique PayBack Undertaking. We elevate standards to secure your assets and future, ensuring exceptional value and peace of mind.
The Responsible, Reliable & Relevant insurance underwriter
Welcome to PARTNER RISK, the specialist underwriting management agency that provides innovative insurance solutions to mitigate risk and ensure organisational resilience.
We offer a unique approach to risk management that rewards commercial clients with a low claims bonus (PayBack). We are the only insurance underwriter in South Africa with exclusive rights to offer the PayBack undertaking.
PayBack is a component of the underwriting profit made by PARTNER RISK. It is only applied to the lead-line policies underwritten by PARTNER RISK and is used to fund risk management expenditure as agreed between the Insured client and PARTNER RISK.
PARTNER RISK is a registered financial services provider, authorised by the Financial Services Conduct Authority in South Africa. We provide underwriting management services to our clients on behalf of our principal insurer – Guardrisk Insurance Company Ltd.
Our unique approach to mitigating risk
At PARTNER RISK, we pride ourselves on our distinctive approach to risk mitigation. Our strength lies in the solid and enduring relationships we’ve built with industry partners, ensuring that valid claims are promptly settled.
Our rapid service turnaround is the result of our tailor-made risk selection and claims settlement systems. We’ve developed an in-house Risk Appetite Indicator App, a cutting-edge tool designed to provide you with a quick answer to your risk acceptance enquiry (max 24-hour turnaround).
Central to our approach is the calculated Threshold Claims Ratio for each client, meticulously determined through actuarial analysis.
Head: Technical Support
Frequently Asked Questions
At PARTNER RISK, we firmly believe in a three-way partnership: Client – Broker – Insurer, where shared success benefits everyone involved.
The “PayBack” undertaking is a low-claims-bonus carefully calculated by actuaries. It’s specifically designed to reward eligible clients by funding investments in risk management improvements.
Think of it as an “out” bonus, administered by PARTNER RISK, for the exclusive benefit of your clients.
The PARTNER RISK Risk Appetite Indicator App provides brokers with quick and easy access to our risk appetite, so you can quickly determine whether we are likely to accept a particular risk and how much capacity we have are able to deploy.
This information can help you to:
1. Pre-qualify risks:
Save time and effort by quickly identifying risks that are unlikely to be accepted by PARTNER RISK.
2. Provide accurate and timely feedback to your clients:
Be confident in your ability to provide your clients with accurate and timely information about our risk appetite.
3. Build stronger relationships with your clients:
Demonstrate your expertise and commitment to your clients by providing them with the information they need to make informed insurance decisions.
How the app works:
To use the app, simply enter the details of your insured risk. The app will then return a response within 24-hours, indicating whether we are inclined to consider accepting the risk and how much capacity we are able to deploy.
The insurance capacity we have available for a particular risk refers to the maximum amount of indicative capacity we are able to deploy to your insured risk. This amount may be limited by a number of factors, such as the type of risk, the size of the risk, and our overall risk appetite.
A Threshold Claims Ratio (TCR) calculator is a crucial element in calculating the Payback. It involves actuarial calculations for each client, factoring in non-claim components of the written premium, which include the capital cost. The TCR calculator plays a central role in determining the Payback for qualifying insured clients.
Our principal insurer, Guardrisk, has received credit ratings from the renowned international ratings agency, Moody’s Investor Service, who has assessed three companies within the Guardrisk Group. Guardrisk Insurance and Guardrisk Life both hold a Baa3 rating on the global scale Insurance Financial Strength (IFS) and an Aaa.za rating on the national scale IFS. Additionally, Guardrisk International has been rated Baa3 on the global scale.