Best Practices

The term "best practices" not only applies to insurance agents, brokers, adjusters and underwriting but also to your business.

Best practices are the processes that have proven themselves over time to be the most effective way to develop and follow through on tasks.

When you use best practices you have achieved the most effective way to do business with the lowest possibility of error. This requires testing and refining to determine how to improve your starting methods to achieve a higher level.

Best practices are benchmarks by which you can measure your organization against others that due similar work. It is part of your risk management strategy.

An example would be the proper documentation used with every shipment that your company sends out on a truck. The bill of lading could have a proven waiver of responsibility for any liability incurred as a result of carrying your goods. This helps to reduce the possibility of insurance claims and increases your company profitability.

Turners Tips recommends that you investigate what generally accepted methods are used as best practices in your industry. Taking control of the process may help you to control your insurance and on-going operation of your company.