Products & Services
Customized Specifically to the Needs of the Real Estate Industry
At AssuredPartners we take a consultative approach to loss prevention, beginning with a collaborative process to develop business solutions that strive to improve risk management. While we recognize that all our clients’ operations are unique, we bring a depth of knowledge specific to your industry. As such, typical first steps in loss prevention include:
- Review and understand your operations, appetite for risk and risk management objectives.
- Analyze historical loss data to identify trends by location, department, accident type, injury type, etc.
- Conduct on-site surveys to identify physical hazards and evaluate controls.
- Identify high, medium and low hazard activities to determine which are causing the majority of workers compensation claims.
- Evaluate cost/benefit of outsourcing.
- Train staff on how to create “top-of-mind” safety awareness – promoting safe habits in the performance of daily duties.
- Assist establishing and participation in a safety committee that encompasses all locations.
- Introduce a controlled method of dealing with accidents when they happen, then follow through with corrections and/or solutions that promote learning from mistakes.
- Review and modify new hire procedures, if necessary.
- Assess the quality and effectiveness of current loss prevention programs.
- Assist with the development of customized tactics (action plan) to improve loss prevention programs.
- Provide recommendations on the insurance and indemnification portions of contracts clients are using and entering into with other parties
- Continuously analyze changing risk profile of our client’s profile and provide proactive risk reduction and risk transfer options
- Continuously reviewing aggregation of property values in catastrophe zones and otherwise to assure adequacy of limits
- Based on additional aggregation of properties subject to catastrophe update RMS15 modeling as needed and recommendations forwarded to risk management
- Captive Design/Management and Alternative Risk Transfer Options
- Custom design a cloud-based Tenant and Vendor Certificates of Insurance (COI) Tracking and Compliance System
- Client has 24/7 access to all information including policies, loss runs and other data
- AssuredPartners Real Estate collects all tenant leases and certificates of insurance for each tenant and vendor and places in Client RMC program
- Reports can be run by fund, location, type of client and risk category
- Risk Categories range from Tier 1: highest risk profile to Tier 8: lowest risk profile: Bars & Grills are Tier 1, Restaurants are Tier 2 and National Anchors are Tier 8
Our broker-based, IMPACT RMIS System, is not just an old-fashioned aggregator of claim and policy data. It’s your integrative and interactive command center for identifying, reducing and financing risk. Efficiently collect comprehensive risk data from a wide variety of sources; standardize that information for easy analysis; and then, rely on rules-based decision making—tools to automatically prompt activity—whether it’s to trigger risk management initiatives, calculate the total cost of risk or highlight risk financing needs. Reports include:
- Hail Probability and Insights
- Water Damage Risk Evaluations
- FEMA Flood Zone Determinations
- Earthquake Damage Risk Evaluations
- Wind Risk Evaluations
- Property Reconstruction Valuations
- Catastrophic Probable Maximum Loss (PML)
- Experience Modification Reviews
- Property Modeling
- Actuary Reports
- Limit Batching Analytics
- Deductible & Loss Analytics
- Cyber Data Break Risk Evaluations
- Crime Index Reviews
Claims Administration:
IMPACT goes beyond serving as a consolidated repository for all claims data. Streamline any and all claims-related activities tied to your business. TPAs, carriers and self-administration clients, alike, can improve their adjusters’ productivity levels, comply with regulatory reporting requirements and cut claims costs. Easily transmit claims activity data to and from external sources; intuitively compare claims to drive decision making; and deploy rules-based decision-making tools to automate clerical activities that keep the claims process moving with little human intervention.
Data Management:
Transform the traditionally arduous and mistake-riddenprocess of capturing and then reporting risk, claims, safety and policy data.IMPACT streamlines how you aggregate, cleanse, reformat and report data to andfrom disparate sources with low- to no-touch processes. Our data tools andservices are central to our risk management, claims administration, safetymanagement and underwriting capabilities, but can also be a standalone offeringfor those organizations exclusively needing to address their clients’ datachallenges.
Analytics:
What good is risk, insurance and claims data if you don’t have the time or resources for proper analysis? IMPACT makes data analysis straightforward and fast with tools to standardize data from disparate sources for like-comparisons; simplify data in a visual format so it’s easy to understand; and automatically generate and distribute recurring or ad-hoc reports for varying stakeholders’ unique preferences. Our analytics functionality is central to the system’s risk management, claims administration, safety management and underwriting capabilities.
- Disaster Recovery Plans - assistance with formulation and implementation
- Disaster Planning Mitigation - in partnership with nationally recognized disaster mitigation contractors
- Lender Issues - compliance with lender coverage requirements
- Workers Compensation Posting Notices - providing up-to-date notices for each state
- Bond/Surety Services - consulting & placement of surety bonds for construction, real estate and utilities
- Partner Client Tenant Insurance Services - consultation on compliance with lease obligations
- CAM Recovery Team Support/Tenant Response Assistance - providing assistance with tenant premium charges
- Renewal Presentation - proposal terms, analysis & recommendation to clients at least 30 days prior to expiration including a written service timeline
Corporate Property Team/Disposition Support Services
- Property Under Contract For Sale - providing location-specific loss runs, copies of policies and certificates as needed
- Closing/Sale - closing confirmed CASTO, reporting deletion to carriers, removal from risk management center
- Flood mapping is handled in-house by the AssuredPartners flood department on all current and perspective properties
- Negotiate with lenders requiring additional Zone A coverage when mapping shows borderline
- Marketing of primary flood to alternate carriers and compare terms to NFIP
Pre Loss
- Assist in establishing claim notification procedure/reporting/investigation
- Create/Review internal claims procedures
- Assist in selection of claim/risk related service providers-such as BMS CAT
- Develop claims special instructions to ensure standard claims handling process and disposition
- Determine loss information needs and coordinate with carrier to secure properly formatted loss run on a regular basis
Post Loss
- Assist in verifying claims reported to carrier and carrier prompt response
- Be advocate for client as appropriate in resolving issues with selected carrier
- Assist in developing location hierarchy as needed
- Assist in identification of and resolution of any coverage issues
- Identify and correct any breakdowns in claims process
- Provide day-to-day claims assistance and review/ discuss claim related issues with Client Claims
Review/Oversight Resource
- Review adjuster notes as appropriate, based on claim activity and client needs, i.e. semi-annually, quarterly, monthly
- Prepare claims information for client review per client service plan
- Review of reserves per client service plan
- Challenge reserves when appropriate
- Challenge claim resolution plan when appropriate
- Offer suggestions to adjuster that will advance claim when appropriate
- Assist as appropriate in claims recovery process
- Attend claims review session with carrier
Loss Prevention Consulting and Management
- Coordinates Property Loss Prevention Services with Carrier Loss Control Departments
- Coordinates location site visits with Property carrier
- Reviews all Carrier loss inspection reports and hazard assessments with risk management department and property management department
- Reviews, coordinates Plan Review, Roof and Construction projects with carriers for compliance with insurance loss control standards
- Risk Management Training, presentations Property Manager Group.
- Input, implementation of iAuditor reporting system for property managers.
- Assists with carrier recommendation evaluation, prioritization, and responses.
- Conducts site assessments using iAuditor to identify property and recommended corrective actions, as well as supporting the property managers' periodic assessment process.
iAuditor: Property Management Risk Reduction Tool
iAuditor program to provide your property management team the tool to become the front line risk manager. This loss prevention on-line assessment tool provides a custom iPad/iPod application that designs a report along with pictures of the Property Manager’s inspection of the property. This documentation is critical to defend losses at the location and reduce the overall risk of the property.
Education is a key to success and as such, we are proud to offer training to our clients’ staff at no cost including several certification classes:
- Real Estate – Certified Insurance Professional (RCIP)
- Certified Workers Compensation Counselor (CWCC)
- Certified Experience Modification Advisory (CXMA)
- Property Risk and Insurance Specialist (PRIS)
These trainings are designed to broaden your knowledge and provide practical solutions that can be implemented immediately by insurance professionals, risk managers and insurance buyers. Participants learn how to execute to achieve impact on risk and cost, improve their technical skills and enhance their credibility as a risk management professional.
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