Customized programs to effectively manage internal and external risk for your organization
Life science companies face unique risks along the path from R&D to clinical development to commercialization. These may include capital constraints, regulatory roadblocks, missed endpoints, supply chain uncertainties and the competitive landscape, to name a few.
Danforth Advisors’ Risk Management services provide a flexible and cost-efficient way to assess and mitigate risk across the breadth of your operations, including the design and implementation of the right combination of insurance policies. Each program is precisely tailored to a client’s specific needs and managed by a Risk Management specialist with deep expertise in life sciences. We apply a crawl, walk, run approach to Risk Management, allowing the process to become embedded in the overall decision making within your organization.
Key Considerations
- Our services are customized and variable, ranging from distinct projects through on-going management and reporting. Clients can activate the right resources at the right time and scale accordingly as their needs change – whether requiring an enterprise-level assessment of insurance coverages, safeguarding against competitive risks or initiating a clinical trial.
- We take a holistic view of your needs before identifying and engaging with the best insurance brokers to secure the right coverage. We have close relationships with many providers, sparing you the time and effort of doing the legwork and negotiations.
- Our Risk Management specialists regularly partner with Danforth consultants working in other business capacities for clients, including c-level advisory, finance and accounting, clinical business operations and human resources – facilitating timely communication and information sharing between key functions.
How Danforth Can Help
Insurance Management
We apply an insider’s perspective in the assessment of insurance needs, including policies, terms and conditions, limits and premiums – to ensure the right tapestry of coverages.
SWOT Analysis
We perform an initial SWOT analysis to understand your company’s strengths, weaknesses, opportunities and threats, both internally and externally.
Risk Matrix
We create a matrix to rank likelihood and impacts of potential risks, which informs the prioritization of your mitigation efforts.
Mitigation Measures
We drill down to create a mitigation plan for each specific risk, including goals and associated action steps. This is done in conjunction with your staff to assure buy-in to the plan.
Information Security
We can design, implement and manage the security controls required to safeguard your data and organization, leveraging a team of Information Security specialists. Learn more here.
Documentation
Your board of directors, government agencies and other stakeholders require accurate reporting of potential risk factors. We regularly support this documentation, for example, by creating detailed overviews for 10-K financial statements.
Management Accountability
We develop dashboards to assist your management team in tracking progress against risks and for timely, transparent communication of your mitigation efforts with your board of directors.
How else can we help?
Learn about our additional capabilities