Most insurers outsource the surveying aspect of risk management to third party service providers. This has recently come under the spotlight, revealing the following risks, which if left unattended will have a seriously negative impact on clients.
The risks when it comes to outsourcing surveying to third parties are:
- Untrustworthy and inconsistent survey data.
- No centralised view of the underwriter's risk portfolio.
There are often cumbersome manual processes with archaic systems that hinder the achievement of objectives, and there are often increased regulatory compliance obligations.
Survey requests are submitted by our underwriting team to our surveying department, based on new business or a renewal in terms of the policy.
Once received, the request is allocated to one of our professional surveyors who then contacts the client to set up an appointment to visit the site in question.
When on site, our surveyor is able to do a comprehensive risk assessment which includes full fire and electrical reticulation, structural integrity and occupancy details for an accurate risk evaluation.
Assessments are further done via thermal imaging to detect possible heat sources that increase risk exposure, as well as the employment of measuring tools which look at storage practices.
High-tech drones are deployed to for an overview of inspected risks and to carry out structural inspections of hard to reach locations, such as roof integrity and silos on a farm, for example.
An added advantage to our surveyors is the ability to create real time, on site reports using our bespoke In-Syte system which speeds up the administrative side.
Once back at the office, surveyors can complete the report for risk requirements and recommendations, with added visual evidence which was recorded on site. This report is sent for verification and once verified and approved – it is sent back to the underwriting team to complete the cycle.