RENEWALS
&
SUBMISSIONS
Most risk and insurance managers
could probably live with less-than-
optimal renewal processes in
exchange for complete confidence
in the quality of their market
submissions. Yet the hard truth
is, on top of wasting time and
resources, inefficient processes
are the culprit behind unwanted
outcomes like excessive premiums,
under-insurance and, when claims
are made, voided policies.
RiskConsole not only helps you
reduce the time needed to collect
renewal data and produce reports, it
also empowers you to improve data
accuracy and have confidence that the
data sets you collect and disclose to
brokers and underwriters are up-to-
date and complete.
An underwriter can use up to 56
separate data elements to price an
individual property exposure. And their
questions can change from renewal to
renewal depending on the current underwriting
market concerns. RiskConsole's renewal
questionnaire can be customized to address
your specific exposures and any emerging needs
of the market. In addition, specific workflow
rules, validations and notifications can be
built into your form to ensure data quality and
transparency.
RiskConsole is a powerful tool for helping
make your commercial insurance renewal
successful. In addition to making the processes
more efficient, RiskConsole empowers you
to provide brokers and underwriters with the
information they need to accurately assess and
price your risks. When your brokers have the
information they need to clearly explain your
risk to underwriters, you can negotiate the best
premiums and policies as well as design the best
programs based on coverage and total costs.
