In a time when the world is undergoing unprecedented change, how do organizations even become resilient? Procor Solutions, a leading risk management company, offers an answer. Procor provides insight and valuable experience to help organizations improve business resilience. The company offers creative and unique risk management solutions that clients can use to identify, quantify, and recover from potential risks while mitigating their impact. Founded by Arnie Mascali and Frank Russo, Procor focused on assisting policyholders with forensic accounting, business interruption, and property claims in its early days. Ten years later, the company is a full-service risk management firm that provides guidance in disaster planning and response, risk assessment, property/business interruption claims, loss mitigation, and claim analytics and technology. To date, Procor’s team of professionals has recovered more than $10 Billion in claims for organizations in various industries touching six continents.
Drawing from its extensive experience in managing post-loss and recovery phases, Procor realized it could provide additional significant value to its clients by focusing on the “pre-loss” or planning stage. With that, the company aims to prevent potential risks or mitigate their effects, should they occur by delivering a continuum of services to identify areas of potential disruption. For example, companies may be more exposed to interruptions in their income streams due to unpredictable weather events. In such cases, it is critical to find the right insurance professional to guide procuring coverage to help protect their income streams. But even as companies are buying insurance to transfer risk, Procor is working with its clients on disaster planning and business continuity planning, coordinating physical recovery with the terms and conditions of the insurance policy. In this phase, the company determines the extent to which the business is susceptible to risks.
From hurricanes in the southeast to winter storms in Texas, to myriad other man-made and natural calamities, the company helps its clients plan and respond efficiently and effectively.
Procor not only helps develop strategic plans but also prepares the client to execute them. “A vast majority of our clients who spend a significant amount of time and resources on planning are very successful in recoveries, should those events actually happen,” mentions Mascali. This preparation is critical to business resilience.
When events occur, Procor implements its proprietary process of step-by-step foundational tasks to help the client accelerate recovery. This process sets Procor apart from its competitors and is often what its clients refer to as the source of good client communication and successful recovery outcomes.
To put things into perspective, Mascali recalls the story of a school district that sustained significant damage from Hurricane Irma. Procor helped the client with a comprehensive claim strategy to identify available funds to support recovery via insurance, FEMA, and other funding agents. Procor then helped the client navigate through the FEMA eligibility criteria. With this support and coordination, the school district was able to claim a major part of the coverage from their insurance company and the balance from the federal government.
A vast majority of our clients who spend a significant amount of time and resources on planning are very successful in recoveries, should those events actually happen,” mentions Mascali. This preparation is critical to business resilience.
Such success stories stem from Procor’s experience in responding to some of the most devastating natural disasters and man-made events in history. In addition, as Procor is a wholly-owned subsidiary of Brown & Brown Insurance—one of the largest publicly traded insurance brokers in the world—the company can leverage the knowledge of its parent organization. Moving ahead, the company plans to continue assisting its clients in surviving the crises of the pandemic. Procor’s unique strategic relationships with public and private organizations allow them to provide technical support for cities and municipalities to mitigate the aftermath of the pandemic. And as new risks emerge, especially in the areas of construction and cyber, Procor’s flexible business model gives it a distinct advantage to pivot quickly for its clients. For the longer term, Procor plans to continue its growth by strengthening its foundation of experienced forensic accounting and property claims professionals and building on it with alternative approaches, innovative perspectives, and cutting-edge technology.
