VR Surveys are the next generation of risk assessments supporting insurance buyers, brokers, and underwriters, the key differentiator being interactive video content supporting the survey and any risk improvement recommendations. The video, like Google Earth street-view, provides vision both around and inside the premises and can be embedded with construction data, storage and occupancy details, fire protection and electrical equipment maintenance records, the site’s Hot Work Permit, Emergency Response Plans, and Natural Hazard exposure summary or any combination thereof to your specific requirements.
Take a look, as Seeing in Believing ….
Market observations:
Insurers are demanding not only more detail on their (prospective) insured locations but also risk improvement that minimise the frequency and/or severity of future loss.
A VR Survey scan combined with a COPE Summary or full Risk Report and follow-up risk improvement support can significantly improve Insurer appetite, increase capacity and secure best terms. Our relationships with both local company markets and Lloyd’s cover holders can ensure you present the right information and supporting visuals second-to-none.
Our Risk Assessment Exposure Analyzing and Reporting includes:
Construction: Assess to ISO 1-6 construction types Insulated Panel assessment Non-compliant building products.
Occupancy: SME, commercial/residential strata, mid-market, high challenge.
Protection: Fire detection, sprinkler protection, fixed/specialised systems.
Natural Hazard: CatNet plus local/regulatory and/or govt agency resources including Bushfire, Flood, Hail, Storm/Lightning, Windstorm/Cyclone, Freeze, Storm Surge, Surface Water.
Exposures: Business Interruption, BCP, supply chain, regulatory limits, and Cyber.
Capacity: MFL, PML, ALP, LE, NLE, Amount Subject.
The Benefits:
Our belief matches that of early customer feedback, in recognising that the ability to Walk the Risk provides a host of benefits for each participant in the insurance offer and acceptance equation:
For the Insurer/Cover-holder:
Visibility of the building age, its condition and construction types, storage/production/admin areas, housekeeping, fire protection, neighboring exposures, and overall risk quality.
Training resource that aids in staff development.
Post-loss assessment resource, reducing visitation costs and time to settlement.
Reduced risk survey frequency (and costs), assuming no changes.
Improved portfolio profitability, linking appetite to refined terms and pricing, for the Broker, for Insurer/Cover-holder, and for the Insured.
For The Broker:
Ability to virtual-broke the risk to multiple insurers, and not just Property.
Visibility over Insurer specified / Insured completed risk improvement.
Claim assessment resource.
For the Insured:
Aids your broker in securing full capacity, broad coverage, at the best price.
Assists risk improvement conversations.
Improves claim and business resumption activities.
Promotional resource for the business.
Finally, Our Promise:
Is to provide our customers with a market-leading ability to showcase their client’s risk, allowing underwriters to walk the Risk wherever they may be on any device. Interactive video content provides benefits for all across the Insured, Broker, and Insurer tri-party relationship … we promise.