Lockton unveils risk consulting arm following Adelaide expansion

Lockton unveils risk consulting arm following Adelaide expansion | Insurance Business Australia

Insurance News

Lockton unveils risk consulting arm following Adelaide expansion

Seasoned leader to collaborate with brokers to improve client outcomes

Insurance News

By
Roxanne Libatique

Global insurance brokerage Lockton has introduced an in-house risk management consultancy in Australia, naming Ben Crowther as head of risk consulting.

Crowther (pictured) will collaborate with Lockton’s brokers to help clients identify and address key risk areas through tailored strategies. This partnership is expected to improve outcomes during insurance renewals by mitigating underinsurance, reducing overall risk costs, and enhancing clients’ risk maturity.

Lockton’s in-house risk consulting practice

Crowther said the in-house practice represents a significant enhancement of the company’s risk management capabilities.

Lockton Pacific CEO Paul Marsden highlighted the increasing complexity of risks that clients face, which has driven the need for in-house risk consulting services.

“By establishing in-house risk consulting capabilities, Lockton will add value to our clients’ businesses and address gaps or capacity challenges amongst their own internal risk management expertise,” he said.

He said that Lockton’s approach integrates risk management consulting with broking services, particularly focusing on the mid-market sector, which is often underserved in this area.

“This is important as we’ve identified that integrated risk and broking propositions are typically only reserved for top companies, presenting an opportunity for Lockton to make an impact in the mid-market space,” he said.

Lockton’s head of risk consulting

Crowther brings over a decade of experience to the position, having led client projects in areas like risk assessment and insurance program stress-testing. His expertise extends to advanced risk quantification, business continuity planning, asset valuation, risk engineering, and the preparation of complex business interruption claims.

“Whether that’s putting forward bespoke in-house capabilities or leveraging an extensive network of preferred specialist contractors which Lockton clients can tap into, we’ll be giving choice to clients,” he said.

This move is accompanied by the appointment of Matthew Linke and Andrew Thornton as client directors. Together, they bring over 50 years of combined experience in insurance and risk management, with expertise across various industries in South Australia, including agribusiness, aged care, and manufacturing.