Do you have adequate reliable information on your clients’ assets? Do they really understand the basis behind the declared values at risk? Could you have an issue if your client is subject to average after a claim? Are you facing longer renewal periods with more questions on declared values from insurers?
We understand that building and maintaining a long-term relationship with risk managers and insurers is an essential component to successful broking. Industry and location knowledge is often at the core of those relationships.
To support brokers guiding clients through the renewal process, and specifically on identifying any discrepancies with current sums insured, John Foord have developed an industry-leading cloud based platform that provides brokers with instant access to estimated asset reinstatement costs across a wide range of industries, globally.
By entering a small number of easy to collate data points on a location, John Foord Analytics can produce an estimate of the current reinstatement cost of the facility by using machine learning and modelling to benchmark the location against thousands of similar locations.
As an independent platform, John Foord Analytics can help brokers navigate challenging situations such as under or over insurance, incomplete asset information and conflict of interest concerns from asset owners.
Not only does a John Foord Analytics report gives brokers, asset owners and insurers the comfort that values have been assessed independently but, by providing objective and researched validation of appropriate reinstatement costs, a John Foord Analytics assessment can assist insurance placement, reduce potential for confrontation during post loss claims, provide consistency across diverse portfolios and reduce effort in collating information for insurers.