Surveys & recommendations

Historically, tracking and monitoring property surveys, recommendations and impairments has been a manual, labour-intensive process. With the survey reports collecting dust and not being organised or easily accessible, there was no system for disseminating and tracking the recommendations arising from the surveys.

RiskConsole’s property risk control module enables you to better manage your survey programme, with a central repository of your survey results including managing the recommendations and tracking temporary impairments. Local management will be able to reference the relevant survey reports while keeping you directly informed of their recommendations and updated with progress.

Key benefits

• Strengthen your negotiating position. With the ability to demonstrate an effective and sound survey programme, you can give the underwriter confidence in your risk profile and help secure the best property premium rates.
• More proactive risk control. With improved management and an overview of your survey programme, you can be more proactive in following up the key risk control initiatives.
• Reduce administration costs. With a central repository of your survey programme accessible across your organisation, all of the administration and management work in keeping track of the recommendations is all managed directly by RiskConsole.
• Transparent view of your survey programme. You will have a single source to collect, manage and store survey, recommendation and impairment information. It is available to all parties with access at any time with just a web browser.
• Decision making support. Information at your fingertips helps to prioritise recommendations to ensure your risk management budget is spent on the key areas for risk improvement.

Key features

 

Surveys & recommendations
Feature	Details
Track the survey results	RiskConsole allows you to keep track of each survey, including the survey report itself, recommendations arising and where applicable the multiple loss estimates including EML (estimated maximum loss), PML (probable maximum loss) and NLE (normal loss expectancy).
Monitor and action recommendations	A detailed register of all the recommendations can be maintained and distributed throughout your organisation with direct updating as the recommendations are completed. reminder reports or e-mails can be generated to better manage the implementation of recommendations organisation-wide recommendations can made so you that have the ability to broadcast multiple recommendations on a global basis multiple recommendation classifications are available by priority, category, ownership, management approval and progress to completion
Document management	In addition to the survey report, you can store information such as pictures, building plans, CAD drawings, engineering reports and flood maps.
Territory management	Manage risk control efforts by reporting on survey inspection dates to ensure locations are adequately surveyed.

 

CLIENT SUCCESS
The client had previously maintained all survey reports on the head quarters’ system, with no access for the divisions that are actually responsible for the properties. In addition, the fulfilment of the recommendations was not monitored effectively, with only some initial advice and outstanding recommendations being highlighted at the next survey. Using RiskConsole, the client was able to establish a single repository for all of their survey reports and recommendations accessible by division. This has led to a proactive management of the survey programme and resulting risk control initiatives.