Administrative note: This is the chapter's annual meeting. During this annual meeting, we will be voting on the slate for the 2022-2023 Atlanta RIMS Board of Directors.
This session has been approved for CE credits.
Synopsis of Speaker Session:A recent survey of Risk Managers with large portfolios of insured property by Advisen found that 71% of Risk Managers are not satisfied with their understanding of how insurers price their property risk, including responses such as "I'm asked for a lot of data but don't understand how it is used." Attendees will learn how property insurance underwriters from across the market use and interpret the property data that Risk Managers submit in their SOV, demystifying this crucial process. This will include: practical instruction from worked examples on what pitfalls to avoid when preparing your SOV for your submission, how to improve and substantiate your insurers assessment of your data and its quality, and how these improvements and positively impact your property insurance renewal.
Agenda for Speaker Session:
· Why SOV data is crucial to the property insurance renewal process
· How insurers interpret and use SOV data when underwriting your risk
· What are common data quality pitfalls to avoid while preparing your SOV
· Best practices on how to improve and substantiate your data quality
· How quality data can improve your renewal outcomes
· Interactive Q&A
Hemant Shah is the CEO of Archipelago, a risk data platform that connects and transforms property risk data for large commercial property owners, and enables brokers and insurers to view and analyze customer portfolios to deliver optimal insurance outcomes. Previously, he was the Founder and CEO of RMS, the world's leading catastrophe modeling company. Hemant's been a pioneer in the application of data analytics to risk management, helping to create the modern re/insurance industry. Hemant is passionate about risk and resiliency, and serves on the Board of the social venture, Build Change.`
Atlanta RIMS Vendor Risk.pdf
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