Hey there, Risk and Insurance Managers! As a consultant and former Risk Manager, I am often asked about the types of reports that should be presented to executive management teams and audit committees regarding insurance and risk. Many executives are looking for the risk manager to provide that quick “elevator pitch”. But too often they only get a report that simply delivers a Schedule of Insurance. Instead of a Schedule of Insurance, what are the steps one needs to take to get to the “elevator pitch”?
This document helps insurance and risk managers communicate their risk and insurance management strategies with executives and audit committees. Here is the lowdown:
Insurance Reporting Basics: Show a Schedule of Insurance and a chart that outlines the company's risk appetite, tolerance, and capacity. This helps make sure everything lines up with the procurement strategies.
Who's Who: Identify the key players like the Board of Directors, Audit Committee, CEO, CFO, General Counsel, and Treasurer, and their roles in overseeing risk appetite, tolerance, and capacity.
Strategic Positioning: Risk managers should align their statements on risk appetite, tolerance, and capacity with what the stakeholders think. This helps in making smart insurance decisions.
Insurance Decision Matrix: Create a matrix to categorize risks along with their appetite, tolerance, capacity, and strategies. This ensures stakeholders understand and justify each insurance decision.
Understanding Motivations: Figure out what makes stakeholders want to buy or not buy insurance. Highlight when insurance is seen as valuable or not.
Clear Communication: Make sure to clearly communicate the insurance strategy to stakeholders, focusing on governance alignment, risk management, and financial stability.
Download the document to get step-by-step tips for developing effective executive communications.
Executives focus on financial performance, risk exposure, and business outcomes — not policy details. When risk managers translate insurance data into financial insights and business metrics, they elevate risk management from an operational function to a strategic advisory role. Clear, data-driven storytelling helps leadership connect insurance decisions to corporate strategy.
An insurance intelligence platform like LineSlip turns unstructured policy documents into actionable analytics that executives can easily digest. Instead of spreadsheets and PDFs, risk leaders can present dashboards showing premium trends, carrier performance, and TCOR metrics — enabling faster, evidence-based decision-making during renewal and budgeting conversations.
Executives prioritize clarity on:
Total cost of risk (TCOR) by carrier, broker, and line of coverage
Premium and rate changes year over year
Coverage gaps and overlaps that may affect balance-sheet exposure
Claims trends and financial impact over time
Using policy data analytics, risk leaders can connect these metrics to organizational performance and risk financing strategy.
LineSlip’s policy data automation centralizes all program data and creates report-ready visualizations that translate complex coverage information into financial insights. CFOs and treasurers gain instant visibility into risk spend, retention strategy, and renewal outcomes, making it easier to align insurance strategy with broader financial goals.
Lead with financial and strategic insights, not technical details.
Use visual dashboards to illustrate TCOR, premium trends, and carrier relationships.
Benchmark results against market averages to show value creation.
Summarize key decisions and actions, such as renewal strategy or risk transfer recommendations.
Platforms like LineSlip make this process seamless by transforming policy data into executive-ready reports.