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Using a Predict and Prevent Approach to Insurance

four men discussing a predict and prevent approach to insurance

When it comes to your business, it’s easier to use a predict-and-prevent approach to operations than to repair and reimburse after the fact. However, not many business owners leverage this mentality when it comes to picking their insurance policies.

Be proactive, not reactive, because an issue that seems insignificant today can quickly turn into a catastrophe tomorrow.

More often than not, when business owners pick their insurance policies and coverage, they’re focused on the cost of the policy over the benefits of having the policy at hand. Think about it this way – if your business experiences a data breach, would you have rather paid the (smaller) cost of cyber liability insurance? Or hundreds of thousands, if not millions of dollars in repairs that came from the attack?

Every business is unique, which means so are your business risks. When using the predict and prevent model, think about things such as your industry, organizational structure, and regulations when discussing insurance options with your broker.

Insurance policies for a predict-and-prevent approach:

At Snellings Walters, we care about helping you protect your business against all of its risks. This means finding the blind spots in your coverage that you might not be able to see. We’ll make sure we identify the real issues you want to fix and provide you with the right tools and knowledge to succeed. Reach out to us here to get started.