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WSSC Water

Outsourced Risk Management & Insurance Program Optimization

Challenge

Provide executive-level oversight of a complex insurance and risk management program while strengthening governance, improving operational processes, and reducing the total cost of risk.

SCB Solution

Since 2021, SCB has served as WSSC Water’s Outsourced Risk Manager, providing strategic leadership and day-to-day management of the Authority’s insurance and risk management program. Services include insurance renewal management, enterprise risk assessments, claims oversight, vendor procurement and management, executive reporting, KPI development, governance enhancements, and continuous process improvement.

Results

  • Designed and implemented an independent actuarial study program, including development of the RFP, coordination of three consecutive biennial procurement cycles, evaluation and selection, and onboarding of the actuarial firm. Also wrote RFPs and coordinated selection of Broker and TPA.
  • Developed and implemented a comprehensive insurance renewal workbook process to efficiently collect, validate, and reconcile exposure data across the organization prior to CFO certification and renewal submissions
  • Established governance and executive oversight processes for the Authority’s self-insured claims program, improving accountability and performance monitoring
  • Developed and continue to maintain the WSSC Water Risk & Insurance Manual to standardize policies, procedures, and operational practices
  • Improved governance, executive reporting, and operational transparency across the insurance and risk management program
  • Successfully re-awarded as Outsourced Risk Manager since 2021 based on continued performance, trusted partnership, and ongoing process improvements

Services Provided

  • Outsourced Risk Management
  • Enterprise Risk Management
  • Insurance Program Optimization
  • Insurance Renewal Management
  • Claims Management & Governance
  • Broker & Actuarial Procurement
  • Business Process Improvement
  • Executive Advisory Services