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Mind the Gaps – Building Success with a Comprehensive Risk Register

November 2024

Understanding your business’s unique vulnerabilities through a detailed risk register and targeted gap analysis allows you to stay protected, proactive and ready for whatever challenges arise.

Strengthening Your Business with DKG’s Comprehensive Risk Management

”As business leaders, our customers know that proactive risk management is the backbone of long-term success,” says Luke Kelly, Managing Director of DKG Insurance Brokers. ”At DKG, we help identify vulnerabilities with a thorough risk register and address them through targeted gap analysis, ensuring customers can focus on growth with confidence.”

In today’s volatile market, understanding and actively managing risk is more important than ever. A comprehensive risk register and gap analysis are foundational tools that empower businesses to be proactive rather than reactive. Here’s how these tools work, why they’re essential and how DKG ensures your business stays protected.

The Role of a Comprehensive Risk Register

A risk register serves as a roadmap for identifying, assessing and monitoring risks across all aspects of your business. It’s a dynamic document that evolves alongside your operations, helping you stay alert to emerging threats and reinforcing informed decision-making.

The process of creating a risk register with DKG involves:

Risk Identification
We assess both internal and external risks from operational challenges to market shifts that could impact your business.

Risk Analysis
Each risk is analysed based on its likelihood and potential impact, creating a prioritised list that gives you a clear view of your greatest exposures.

Mitigation Planning
With insights from this analysis, we identify tailored mitigation strategies, whether through insurance, operational adjustments or additional protection.

“Having a detailed risk register means you’re prepared, not just for expected challenges but also for unforeseen ones. It gives you peace of mind and a structured approach to handling risk,” adds Kelly.

Closing Gaps with Targeted Gap Analysis

A gap analysis is the next step, revealing vulnerabilities in your existing risk management measures. Even well-prepared businesses can have blind spots, especially as they grow or enter new markets. This analysis enables us to identify any gaps in coverage, ensuring your business isn’t left exposed.

Here’s how DKG enhances risk management with gap analysis:

Coverage Review
We examine your current insurance policies, ensuring that your coverage reflects the latest changes in your business operations and risk profile.

Exposure Identification
Our team compares identified risks against existing coverage, pinpointing any underinsured areas or overlooked exposures.

Strategic Recommendations
Based on these findings, we provide practical recommendations to address gaps, often using our leverage with insurers to secure tailored solutions. Through this approach, we transform potential liabilities into strategic advantages, giving you stronger resilience and peace of mind.

Tailored Risk Solutions with DKG’s Expert Team

To bring depth to our risk register and gap analysis services, DKG has recently added key talent to our team, each with a unique perspective on managing complex risks.

Rouen Van Eck, Executive GM – Insurance, Risk and Strategy: With over 20 years of expertise, Rouen drives strategic growth and innovation, creating forward-thinking solutions to cover complex, evolving risks.

Andre Sliwka, Executive GM – Agency: Andre’s background in underwriting and risk management enhances our ability to provide tailored, high-quality coverage for customers across industries.

Erik Gyllenhammer, Senior Manager, Strategic Business and People Risk: Erik’s extensive experience across international insurance markets offers a holistic view, supporting customers in managing both people and operational risks.

David Zovaro, Senior Mid-Market & Corporate Insurance Broker: David’s expertise in mid-market and corporate broking means he provides resilient, scalable solutions, ensuring each customer receives personalised support and a strategic insurance plan.

Jeanne Van Eck, Account Executive and Operations Lead: With a background in underwriting and operations, Jeanne streamlines customer support, enhancing service responsiveness and operational efficiency.

Jane Whitehead, Account Executive: Jane’s diverse experience in compliance, finance and marketing bolsters DKG’s service offerings, particularly in regulatory compliance and customer servicing for evolving business needs.

An Ongoing Commitment to Your Success

“At DKG, our service doesn’t end with policy placement,” Kelly emphasises. “We continuously monitor and adapt your risk strategies, ensuring they stay relevant and aligned with your growth.”

Through our four-step service model, which includes ongoing support and optimisation, we ensure your insurance and risk management evolve alongside your business. Our risk register and gap analysis aren’t one-time tasks; they are active components of a resilient, long-term strategy, designed to protect your business over the long term.

If you’re ready to enhance your approach to risk, DKG is here to partner with you. Together, we’ll make sure your business is covered from all angles. Please reach out to our team on 1800 252 926 or email insurance@dkg.com.au.

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