If Ulysses were a Grumese customer…
An odyssey, many risks and a simple question: are you ready for the journey?
There are films that entertain us, and there are films that give us good excuses to talk about subjects that are seemingly far less epic, such as insurance.
With The Odyssey, by Christopher Nolan, which is currently showing in cinemas and all over the place, has brought the story of Ulysses back into the spotlight. The film, based on Homer’s epic poem, recounts Ulysses’ journey home and teaches us that A journey may begin with a plan and end up very different from what was intended.
At Grumese, we couldn’t resist asking the question: If Ulysses were our client today, would he leave Ithaca without first carrying out a risk assessment?
Probably not.
First hazard: the sea
Ulysses had a problem that any manager would recognise: he had no control over the conditions of the journey.
Storms, shipwrecks, loss of cargo, damage to the boat… there were far too many variables beyond his control.
Today, companies continue to face risks that they are unable to control: extreme weather events, fires, floods or damage to property.
The difference is that nowadays we can anticipate many of these risks and to pass on part of the financial consequences through appropriate insurance cover.
A business multi-risk policy, for example, should not be chosen simply because “it is compulsory” or because it is the cheapest option. It is important to understand what is actually covered, the sums insured, the excesses, the exclusions and whether cover is provided for situations such as business interruption.
Then the mermaids appear…
In the Odyssey, the sirens represent a temptation that one must learn to resist.
In the world of insurance, it may be the policies that seem irresistible because they offer a lower premium.
But Is the cheapest insurance necessarily the best insurance?
Not always.
Two insurance policies may appear identical at first glance, yet have significant differences in terms of cover, compensation limits, excesses, exclusions or assistance conditions.
This is where the comparison ceases to be merely a question of price.
It’s a question of knowing what we’re actually comparing.
And then there’s the Cyclops
A single risk can have disproportionate consequences.
For a business, a fire, an accident at work, a cyber attack or a professional error can mean far more than just the immediate cost of repair. They can result in weeks of disruption, loss of customers, damage to reputation or liability towards third parties.
That is why effective insurance management must take a holistic view of risk.
The aim isn’t to have lots of insurance policies. It’s to have the right ones.
Ulysses had yet another problem: he didn’t know how long the journey would take
Here is one of the biggest challenges in business risk management: We plan for business as usual and forget what happens when things stop running as normal.
How much does it cost the company to be shut down for a week? A month? What happens to salaries, rent, suppliers and financial commitments?
It is in situations like these that cover such as Operating losses can play a decisive role.
Because protecting walls, machinery or equipment may not be enough. We must also consider business continuity.
And who would help Ulysses?
It is probably here that *The Odyssey* meets the reality of insurance brokerage.
A professional insurance broker should not simply present a policy. They should get to know the client, understand their business, identify the risks and help find a suitable solution.
At Grumese, we believe that that is precisely where the true value of mediation lies in its ability to anticipate; during the policy-taking process, in its ability to advise; and following a claim, in its ability to provide support.
Because when a problem arises, it’s too late to realise that a policy didn’t exist.
In the end, we all want to reach Ithaca
Ulysses wanted to return home. A business wants to keep operating. A family wants to protect its assets. A professional wants to be able to carry out their work without putting everything they have built at risk.
Every journey is different. The need is the same: to be prepared for the unforeseen.
So, if Ulysses were a Grumese customer today, we would probably start by asking him a few questions.
What are you taking with you? What risks do you face? What would happen if something went wrong? And above all, would the cover you’ve taken out be enough to get you to your destination?
Because in the world of insurance, just like in a true Odyssey, The most important thing isn’t just setting off. It’s being prepared for the journey.
Get in touch with Grumese. We can start your risk assessment before your next adventure.
Grumese, always with your confidence
Talk to us and make sure your multi-risk insurance is prepared for the risks of tomorrow:
Contact 214 131 310
Insurance agent with authorisation for life and non-life insurance, verifiable at www.asf.pt. It is authorised to receive premiums for delivery to the insurance company and, in general, it is authorised to take out insurance in the name and on behalf of insurance companies, but it never proposes or assumes risk cover in its own name, which is the exclusive responsibility of insurance companies under the terms of the applicable legislation. It does not dispense with consulting the legally required pre-contractual and contractual information.
If Ulysses were a Grumese customer…
Portuguese 
Spanish 
English