Brokerslink has played a pivotal role in the evolution of the risk management community, not only working in partnership with specialist associations across the globe, but helping to nurture, and foster the risk management profession. Through the establishment of its Risk Management Practice – and Risk Managers Forums – dedicated to, and for, risk managers, Brokerslink has also endeavoured to put something back into the sector by helping the profession evolve and grow, as FULLCOVER reports.
Jorge Luzzi at the Risk Managers Forum during the Sao Paulo Conference (2023).
Risk management sits at the heart of the global insurance market, and an understanding of the essential role that risk managers play in risk assessment and mitigation has always been part of the Brokerslink vision. And the network has not just paid lip-service to the risk management community but through working in partnership, has been, and remains, a facilitator, and catalyst, for change.
Whilst a philosophical appreciation of the value of risk management has always been part of Brokerslink’s DNA, a key appointment in 2013 helped set the foundations for a fundamental shift in its approach. That moment was the recruitment of the now sadly departed Jorge Luzzi to the MDS Group to head up its risk management consultancy, now known as RCG.
As Javier Mirabal, director, North America, Risk Consulting Group explains: “Whilst José Manuel Fonseca was a connoisseur of risk management, Jorge Luzzi was a risk manager, an insider, and part of the worldwide risk management community, and his presence ushered in a new, closer, and more ambitious, relationship between Brokerslink and the risk management world.”
Javier Mirabal, Risk Managers Forum Jorge Luzzi, at the Global Conference in Abu Dhabi (2024).
Brokerslink is not just another broking body looking to build relationships with risk managers – who are in effect, clients or potential clients for its partners & affiliates – but is a true partner for risk management, the profession, with shared goals, and a shared vision.
Javier Mirabal, Carlos Rufino and Jorge Luzzi at RIMS, in Philadelphia (2017).
A risk manager by profession, Jorge brought an unparalleled insight into the challenges, and opportunities, facing risk managers. He also, as is the Brokerslink way, brought new, stronger relationships with risk managers from around the world with him – helping both MDS and Brokerslink cement, and deepen, their existing relationships within the risk management community, with the US Risk and Insurance Management Society (RIMS), with the Federation of European Risk Management Associations (FERMA) and with the International Federation of Risk and Insurance Management Associations (IFRIMA).
Jorge Luzzi, Anthony Lim and José Manuel Fonseca at the Venice Conference (2014).
It is no coincidence therefore that some of the world’s most influential and powerful risk management practitioners regularly attend and present at Brokerslink’s Global Conferences, the network having forged a unique role that differentiates it from the market. Brokerslink is not just another broking body looking to build relationships with risk managers – who are in effect, clients or potential clients for its partners & affiliates – but is a true partner for risk management, the profession, with shared goals, and a shared vision.
Formalising relationships
In 2019, Brokerslink adopted a new strategy, putting in place a new structure that propelled it from being a friend and supporter of the risk management world, to one of an enabler and facilitator of change. The vision was to formalise the connection between Brokerslink and the risk management community and put something back into the market. It was never, and will never be, about currying favour with risk managers to help Brokerslink’s partners & affiliates do more business but about helping the risk management sector become more professional, more recognised, and more valued.
A year on from a meeting called by Jorge Luzzi with Maurizio Castelli, CEO of Augustas Risk Services, and Duane Lohn and Corey Gooch of B. Riley at the Brokerslink Conference in Hong Kong in 2018, to discuss the idea, the Brokerslink Risk Management Practice (BRMP) was born. It was officially announced at the 2019 Brokerslink Global Conference in Bordeaux, France, with Jorge Luzzi its first coordinator and leader.
As Jorge explained at the time: “One of the key foundations of Brokerslink is co-operation, a philosophy that underlines our shared purpose and creates new opportunities. Our new Risk Management Practice reflects this philosophy; three consultancies working together as one to provide their services across a range of risk management disciplines, including ERM, business continuity, insurance risk
management, risk engineering, logistics & supply chain and cybersecurity.
Only five months later, with the world plunged into the Covid-19 pandemic, the value that the BRMP could bring to the wider risk management community was clearly demonstrated. With typical foresight, Jorge Luzzi suggested the practice provide technical advice on the impact that the pandemic would have on risk management in the future. The result was the publication in the FULLCOVER magazine (issue No. 13, May 2020) of a very informative article “Risk Management after Covid-19”. Penned by representatives of all the member firms of the practice (Jorge Luzzi, Maurizio Castelli, Corey Gooch & Javier Mirabal), its publication can in many ways be seen as marking the beginning of the BRMP’s important and influential work.
Following its launch, Jorge Luzzi then turned his attention to transforming the existing Risk Managers Forum – a long-standing part of the Brokerslink Conference – into a more formal space exclusive to risk managers. The success of the Risk Managers Forum, where risk managers can privately share, discuss and debate the issues of the day, amongst themselves, as guests of Brokerslink, but without any attendance by brokers, cannot be underestimated.
Focus on risk managers
Exclusive to risk managers, the Risk Managers Forum Jorge Luzzi, takes place the day before the annual Brokerslink Global Conference.
This exclusive gathering brings together leading risk managers from around the world to explore and address the evolving challenges facing the risk management profession. The risk managers attending this forward-thinking forum share practical insights, best practice and network with their peers.
The forum has now been renamed the Risk Managers Forum Jorge Luzzi, in recognition of the legacy left by founder Jorge Luzzi.
The Brokerslink Risk Management Practice (BRMP) is centred around a working committee of three risk management consulting firms that are all members of Brokerslink (Augustas Risk Services, B. Riley, and RCG Risk Consulting Group). The committee has two key objectives: to offer integrated risk management services to the wider Brokerslink membership; and to work together, when necessary, to generate differentiated offerings for clients outside of the Brokerslink system.
The BRMP regularly presents at Brokerslink Regional Conferences around the world (including Europe, the Americas, and Asia), reinforcing its aim of providing integrated risk management services to all Brokerslink members.
Respect for risk
Sitting at the heart of Brokerslink’s risk management relationship is respect. A respect for risk managers, and for the risk management profession and practice. The network has a real desire to help the risk management community grow and develop, be more professional and better equipped to help their businesses and organisations navigate through the changing, and challenging, economic, geo-political and environmental risks the world now faces. And of course, the more professional and informed the risk management community, and the more informed and professional the broking community, the better the insurance and risk mitigation decisions. A win win for all.
Jorge Luzzi used to co-ordinate these practices. With his passing in 2024, the role has fallen to Maurizio Castelli, from Augustas, Italy, who continues his good work and upholds the ideals embedded in the BRMP by Jorge, whose legacy continues to inspire the work of the BRMP – today, tomorrow, and always.
Partnerships with RIMS, FERMA and PARIMA
Brokerslink has been supporting and working with international risk management associations RIMS, PARIMA and FERMA for many years, taking its first presence at FERMA in 2005, and RIMS in 2008. The network has attended and exhibited ever since.
Brokerslink’s involvement with these key associations reflects not only its affinity with the risk management community, but its commitment to being aligned with global risk trends and to strengthening the value it provides to clients and partners.
