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What sets a great portfolio program apart?

In today’s private equity environment, firms are being asked to do more with less — drive faster returns, scale smartly, and manage risk across increasingly complex portfolios.
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By Katherine Gensheimer , 

Chief Client Officer, PEMA North America

12/09/2025 · 3 minute read

In today’s private equity environment, firms are being asked to do more with less — drive faster returns, scale intelligently, and manage risk across increasingly complex portfolios. Portfolio insurance programmes have emerged as a powerful tool to support these efforts, but the truth is: not all portfolio programmes are created equal.

The difference often lies in the execution.

At their best, portfolio programmes aren’t just bundles of insurance policies — they’re strategic, data-driven frameworks tailored to each firm’s goals and each portfolio company’s unique risk profile. But not everyone is able to achieve this. Some default to rigid templates, prioritising ease over impact. Others deliver scale but fall short on service.

Here are five things that distinguish a great portfolio programme from a “good-enough” one — and why it matters.

1. High-touch support with a dedicated portfolio manager

A common complaint with portfolio programmes is feeling lost in the shuffle. That’s where people make the difference.

Having a dedicated portfolio manager means your team has a single point of contact who knows your business, understands your priorities, and keeps the programme running smoothly — freeing up internal resources and making it easier to onboard new acquisitions without disruption.

2. A strategic, not just administrative, approach

Some programmes are built around standardisation alone. While that can reduce costs and simplify renewals, it often misses the bigger opportunity: using the programme as a strategic lever.

A stronger approach begins by understanding the private equity firm’s investment strategy, growth targets, and risk appetite. The programme is then designed with the aims of protecting enterprise value, supporting exit-readiness, and enabling operating teams to stay focused on what matters most.

3. Flexibility that matches portfolio complexity

No two portfolios are alike. One fund might contain a biotech firm navigating clinical trial exposures, while another has a SaaS business facing cyber threats. That’s why cookie-cutter programmes rarely deliver lasting value.

Customisable structures, optional coverage tiers, and risk benchmarking allow each company to participate in a way that reflects their operational realities — without sacrificing the scale and consistency benefits of a centralised programme.

4. Data-driven insights at scale

The best portfolio programmes don’t just manage risk — they quantify it. With access to aggregated loss data, benchmarking, and claims trends, firms can identify patterns, manage outliers, and make proactive decisions.

More importantly, this data can be used to refine coverage, support value creation plans, and drive more effective boardroom conversations about risk.

5. Proven execution without the headaches

Execution is where many programmes fall apart — missed renewals, siloed communication, or unclear onboarding can create more complexities than they solve.

A well-run programme includes a clear implementation roadmap, consistent communication, and ongoing monitoring so that firms can feel confident not just in the programme purchased, but in the risk and programme management.

The bottom line

If your current portfolio programme feels rigid, reactive, or purely administrative, it might be time to seek out more.

What truly sets the best programmes apart isn’t just scale, data, or flexibility — it’s people. A dedicated portfolio manager acts as a bridge between strategy and execution, ensuring every element of the programme runs smoothly and delivers on its promise. With the right human capital in place, the portfolio programme becomes more than a cost-saving tool; it becomes a strategic asset that protects value and drives growth across the investment lifecycle.

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