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Video Surveys & Live Streaming

Content:

Risk Solved has complimented its rich product offering with a new video survey capability to automate risk analysis and improve risk management for insurers, brokers and MGAs.  This live streaming data capture functionality demonstrates up to 400% improvement in survey efficiency, when compared with an on-site survey.

What is it?

An innovative and proven remote survey capability via video which provides live data capture, storage and the option to collect snapshots and annotate real-time.    The video streaming process provides a view of the client’s risk exposure and simplifies analysis of the entire portfolio.  This not only allows clients to feed information back digitally on how they are managing their risk improvements, but it also provides valuable information to the underwriter and risk engineer, for verification and comprehension of client operations when analysing the type of risk and the impact it will have on the overall client insurability assessment.

When integrated into a risk management solution, risks are automatically submitted, thereby making key reports accessible for data processing, validation and, where possible, instant onsite remediation.  This can potentially reduce the need for a resurvey.  Information is accessible on to all key stakeholder; – customers and brokers via our, Customer Portal, surveyors, risk engineers via our Consultant Portal.

Video data capture is ideally suited for data gathering on the following risk types:

  • Flood risk
  • Employer liability
  • Buildings business operations
  • Vehicle and fleet

What are the benefits?

Integrated video surveys, with live data streaming, positively impact many areas of the risk management value chain:

  1. Real time risk assessment information collected directly via video provides more detailed risk insights, thereby improving profitability, through competitive advantage and business resilience
  2. By having live data streams readily available for assessment, risk engineers and underwriters can provide better customer service as they process risks in a more efficient manner.  Happy customers turn into lifetime customers, benefitting insurers, brokers and MGAs alike.
  3. Cost reductions are noticeable both in terms of staff time to carry out assessments and through instant optimisations onsite to mitigate perceived risk. If, however, the need for a resurvey is required, it can be carried out remotely using this low-cost technology
  4. Carbon footprint is reduced as the need for multiple site visits and re surveys drops.
  5. People are protected in uncertain times.  Live video streaming significantly reduces the need for physical onsite surveys and supporting social distancing guidelines

How does it work?

The video streaming service is activated seamlessly.  A call is scheduled with the customer or onsite surveyor via email. With one click of a button on their phone or tablet, the device’s onboard video service is activated, and the survey can start.

There are 3 stages to the process of assessing risk:

(1) Intelligence gathering,
(2) initial risk assessment understanding (area, business operation, specific facility, vehicle, fleet of vehicles, etc),
(3) Walk through survey for data capture and validation of risk.

Examples of best practice when building a risk assessment via video stream:

AREA:  complete a 360-degree view and recording of the target location and surrounding area
BOUNDARY: obtain and retain footage of the building shell, structure: walls, floor roof, moveable parts; windows and doors – outside and inside – include further shells inside, such as storerooms.
CONTENTS: gain insight into security devices, their deployment & any potential compromises – such as defective or outdated systems, impacts from other installations such as water pipes, HVAC systems or electromechanical interference and outside animals that could falsely trigger alarms.

Typically done via manual walk arounds with surveyors and risk assessors onsite, comprehensive custom surveys are created, completed, sent for analysis and review.  Live video, compliments Desktop Reviews, enabling business to flow whilst individuals are at separate locations.

During the live interaction, questions are posed and answered.  Validation and verification of actions taken are immediately noted by the risk assessor.   Full footage is securely and compliantly, saved for future reference.  

This evolution in digital risk surveying equips insurers, brokers and MGAs with the intelligence and control to disrupt the risk management market, giving unprecedented insights for strategic decision making across all clusters of business.

Want to learn more? Simply leave a message via our contact us page or call 0207 127 0571 to speak to a member of our team.

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Video Surveys – See it with your own eyes :)

See risk with your own eyes.

The powerful video surveys software provides a view of a client’s risk exposure and makes analysis of the whole portfolio easy.
See risk with your own eyes… The next generation of digitalised risk information gathering and delivery could be at your fingertips.

Through live video technology, it allows the customer to feedback digitally about their operations. An underwriter or risk engineer can verify the live data and gain the analysis they need to better understand the risk quality.

Risk Solved’s applications automate the risk submission process, insurers can review reports, spot and process data inaccuracies and then remediate issues via video survey.

The software collates and displays all the information in a digestible and easily exportable manner.

We estimate 50-75% of resurvey visits can be done remotely using simple to use, low-cost technology. This can provide a much richer insight to your risk portfolio, save you money on expensive resurvey visits, reduce your overall carbon footprint, and maintain productive engagement with customers in uncertain times.

Arm your team to be competitive by delivering them the data that they need.

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AEGIS selects Risk Solved, a market-leading risk management platform, to enhance service to its policyholders

Today, AEGIS Insurance Services Inc (AEGIS),  a leading mutual insurance company that serves the energy industry, announced its selection of the Risk Solved digital risk management platform with the strategic aim of enhancing the Loss Control consultancy services it offers its policyholders.

Commenting on the selection, Tim Heinze, SVP and Chief Loss Control Officer at AEGIS, said “Our policyholders represent virtually the entire energy infrastructure in North America, including all the major electric, natural gas and water utilities. Their services are critical, and we offer them very specialized loss control services, which differentiates us from commercial insurers. Our new platform from Risk Solved will help us deliver unique data insights to our policyholders in real time via our policyholder portal.  This will enhance the technical support we offer, as well as deliver key benchmarking metrics.

Scott Schenker, SVP and CIO at AEGIS, said “We launched a digital transformation program in 2019 and one of the key objectives was to find a platform to digitize the work of our Loss Control division.  We undertook a rigorous selection process and selected Risk Solved because it’s a complete and robust solution. Risk Solved met and exceeded all of our key metrics: a web-based platform, proven technology, easy to use, configurable and mobile-ready so that our team and our policyholders can choose the device that suits them best, whether that’s desktop, tablet or phone.

Right out of the box, we have the ability to configure our own survey questionnaires, create rating and scoring, and deliver analytics to our policyholders and underwriters, which frees us from depending on development resources that are already stretched thin.”

Debbie Baker, Global Sales and Marketing Director of Risk Solved, adds “AEGIS selecting the Risk Solved platform as its solution for Loss Control across North America further endorses our market-leading and global positioning.

AEGIS’s enthusiasm for delivering superior Loss Control services to its policyholders is palpable. We are fortunate that the global pandemic hasn’t impacted the project momentum. While challenging, the team at AEGIS is using this time as an opportunity to accelerate change and address some long-standing opportunities.  At the same time, Risk Solved’s project team has been able to meet any logistical challenges presented by the pandemic and continue to deliver against each milestone and objective.

About AEGIS

AEGIS is a leading mutual insurance company that provides liability and property coverage, as well as related risk management services, to the energy industry.  Its policyholders represent virtually the entire energy infrastructure in North America. The mutual operations are based in East Rutherford, New Jersey.  AEGIS is also the parent company of AEGIS London, which operates Syndicate 1225 at Lloyd’s of London.  The company’s premium revenues in 2019 were $1.8 billion and total assets are more than $7.9 billion.  Its website is www.aegislink.com

About Risk Solved

Risk Solved is a market-leading, global digital risk management platform, enabling carriers to improve their portfolio profitability, manage exposure and improve customer engagement. Designed by risk engineering experts with decades of experience, we continue to innovate and future-proof our market offering. Risk Solved now offers video survey capability, which can be integrated or operated as a stand-alone service. Insurers can evaluate key risk exposures via desktop and see detailed site risk evaluations without the need to travel. Our customers typically see a 10% improvement in underwriting profitability, on average.   Customers include: RSA, Ecclesiastical, AEGIS, IUM and RADD Consulting.  See www.risksolved.com

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