How can you help make sure your underwriting is as accurate as possible? If you’re not using digital pre-risk surveys, it’s time to take the plunge.
Pre-risk surveys can help underwriters and brokers gather information about a risk that might otherwise go unnoticed and lead to riskier policy decisions. A digital pre-risk survey can provide you with insights that allow you to assess what types of policies would be suitable for your customer based on their needs and financial situation.
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Why would you need to take a pre-risk survey?
A pre-risk survey is necessary when a property or a business needs to identify any possible hazards that may adversely impact the quality of the risk. A pre-risk survey can also be used to determine the effectiveness of the control measures that are currently stabilising those hazards.
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What are the benefits of taking a pre-risk survey in insurance?
When pre-risk surveys are taking place, assessors provide documentation of the risk and exposure to different hazards and perform a risk analysis that underwriters and brokers can understand the impact and consequences of the risk.
Through pre-risk surveys, sufficient information can be sent directly to allow underwriters and brokers to evaluate the effectiveness and efficiency of the control measures already in place.
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How long does it take to complete the process, and what is involved?
Whether you decide to conduct your pre-risk survey physically or virtually, the process is very efficient. The inspector primarily uses a video collaboration tool to capture any possible hazards. Once risks have been captured and analysed, information can be passed on to underwriters or brokers to decide on insurance policies.
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How can Livegenic help you with your pre-risk surveys?
Wilbur creates solutions that help underwriters and brokers find the best solutions for their unique needs. Livegenic provides an easy way for our customers to access expertise from across the industry.
Powered by Livegenic, Wilbur offers the best all-in-one virtual collaboration tool for insurance companies looking to improve their services. Adapting your business to the digital model is easier than ever. Optimise more accurate pre-risk surveys, reduce operational costs and provide your customers with a smooth experience.
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A pre-risk survey is a great way to identify potential risks that could lead to a loss for customers and clients. You can also use the survey results as an opportunity to highlight any strengths your customers have in place, like insurance coverage or safety measures.
When it comes down to it, a pre-risk survey ensure you’re able to prepare and protect yourself and your customers against unexpected events before they happen, which means less time worrying about what-ifs and more time focusing on running an efficient operation.
For more information on how Livegenic can help with your pre-risk surveys, click here.