WALTHAM, Mass., January 10, 2022 — Danforth Advisors, LLC today introduced a suite of risk management services to help life science companies assess and mitigate internal and external risk with flexibility and sector-informed expertise, including the design and implementation of the right combination of insurance policies. The new services complement the company’s capabilities in areas such as CFO advisory, clinical contracting, IPO preparation and mergers & acquisitions – enabling lock-step coordination between key business functions with a holistic view of the client’s operations and needs.
Danforth’s risk management services are customized and variable in level of engagement, ranging from distinct projects through on-going management and reporting. As a result, life science companies 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.
“With our broad view inside hundreds of life science companies, we’ve gained significant institutional knowledge of their challenges and how to solve them at each stage of their journey,” said Chris Connors, chief executive officer of Danforth Advisors. “Risk and insurance management intersect with many of the responsibilities we undertake for clients, and these services are a natural extension of the work we do to help them operate at their best.”
Danforth’s risk management programs include the following deliverables, among others.
- Insurance Management – applying 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 – to understand the company’s strengths, weaknesses, opportunities and threats, both internally and externally
- Risk Matrix – ranking the likelihood and impacts of potential risks, which informs the prioritization of mitigation efforts
- Mitigation Measures – planning for each specific risk, including goals and associated action steps
- Documentation – to enable accurate reporting of potential risk factors for boards of directors, government agencies and other stakeholders
- Management Accountability – to assist management teams in tracking progress against risks
Additional information is available at https://www.danforthadvisors.com/resources/danforth-risk-management/.