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The services risk environment

Demand for experienced service and advice providers is increasing as businesses focus on their core competencies and choose to strategically outsource parts of their operations for cost and convenience reasons. The services sector faces a more complex, globalised and regulated world where service differentiation is essential in maximising market share. Tough competition and constant pressure to reduce costs characterises the market however, despite these difficult conditions, the sector is thriving in comparison to some industry segments.

Overseas growth is an emerging theme, with the services industry one of the strongest UK export markets. While this expansion into new and emerging markets clearly brings significant opportunities it also increases exposure to territorial risks, such as compliance with local regulations, heightening the need for international risk programmes.

How can Willis Towers Watson help services businesses?

We use our services industry knowledge and insight to help you manage and mitigate risk and control cost within your business. Your Willis Towers Watson team look at your operational structure, your people and the values and ethics that make your company what it is today and what it endeavours to be in the future. We then review the risks that could threaten the existence of your business as well as areas for improvements in business resilience and recovery, risk retention and transfer, servicing efficiencies and cost reductions.

We help implement the appropriate risk controls and risk financing strategy for your business by building intelligent risk programmes to support your short and long-term goals. We do this by combining our deep understanding of your business with our services sector expertise, using a variety of risk management tools such as; loss profiling, analytics, claims defensibility audits, business interruption reviews and peer benchmarking analysis.

What experience does Willis Towers Watson have in the services sector?

The Willis Towers Watson Services Practice has worked with businesses in this sector for many years and as a result we have a deep insight into the opportunities and challenges you face. Our award winning team* of highly experienced and innovative professionals are solely focused on the services sector and have 200 years’ combined experience of working within the professions they support.

We have a broad range of clients across various different sub-sectors including:

  • Technology
  • Professional and Financial Services
  • Charities
  • Outsourced Support Services

Our industry focus combined with risk management, claims and insurance placement expertise means we are well placed to assist with both traditional and emerging business exposures.

As part of a global broking organisation, the services team is your connection to the wealth of expertise Willis Towers Watson has to offer.

Please do not hesitate to contact us to discuss your risk management and insurance strategy further and find out how we can help you implement the right approach for your business.

*Risk Management Partnership of the Year Winners at the IRM Global Risk Awards 2014

CONTACT


Philippa Cartmell
Services Practice Leader
+44 (0) 147 322 2523



David J Smith
Executive Director - Services
+44 (0) 203 124 8614



SUB-SECTOR SOLUTIONS



  • Technology
    (IT Services, IT
    Technology, Telecoms)
  • Professional and Financial Services
    (Legal Advisors, Engineering/Construction Advisors, Financial Advisors, Investment Management Firms, Traders, Insurers, Banks, Exchanges, Advertising Agencies, Accountants, Managing Agents)
  • Charities
    (not-for-profit organisations, social enterprises)
  • Outsourced Support Services
    (Facilities Management, Services Support, Aviation Services, Construction)



RELATED SECTORS