KeyPerson

What is KeyPerson

KeyPerson is a dedicated online platform designed for UK-based companies to assess and plan for Key Person Insurance (also known as Key Man Insurance). The platform helps business owners and financial directors quantify the financial risk associated with losing a critical employee due to death or illness, serving as a vital decision-support tool to ensure business continuity and long-term stability.

Key Features

• Key Person Insurance Calculator: A specialized tool tailored for UK businesses that calculates recommended coverage amounts based on specific company metrics and financial data.
• Financial Impact Assessment: Analyzes critical variables such as a key person's direct contribution to profit, the estimated cost of recruiting and training a replacement, and the potential loss of overall business value.
• UK-Specific Compliance: The calculator's logic is strictly aligned with UK business standards and insurance industry practices, ensuring relevant and accurate results for the local market.
• Risk Identification Resources: Provides guidance on identifying "key persons" within an organization, such as founders, technical leads, or top sales performers, and explains how insurance proceeds can be effectively utilized.

Use Cases

• Risk Management: Organizations use KeyPerson to identify which employees are critical to their survival and to determine the precise financial impact of their absence.
• Insurance Planning: Offers a data-driven basis for purchasing business protection insurance, helping companies secure the right level of coverage without over-insuring or under-insuring.
• Business Continuity: Ensures that a company has the necessary liquidity to handle recruitment costs or revenue dips following the unexpected loss of a key stakeholder.
• Financial Strategy: Assists financial directors in justifying insurance premiums by clearly demonstrating the potential costs of inaction and the value of a comprehensive risk management strategy.