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With risks getting more complex and time becoming more precious, leveraging best-in-class mobile technology is changing the playing field in the P&C insurance industry, like so many others. 

Consider the rapid implementation of iPads and tablets into business operations worldwide.  The iPad was only released to the market in 2010.  Since then over 200 million iPads, not to mention other tablet brands that have made it the market, have been sold.   In such a short period of time, tablets have become indispensable in many business operations, and XL Group’s global risk engineering team is no exception.   Last September, XL’s team of more than 150 risk engineers worldwide was introduced to a new Risk Engineering iPad Field App. 

Risk engineers are the eyes and ears of a property underwriting team.  They visit property clients to collect information on the sites that a carrier, like XL, insures.  Today, they collect that information using this first-of-its-kind, iPad-based tool which are then uploaded electronically.  Previously, they collected and reported risk engineering data the traditional way – notes on paper which were later entered into laptop and then sent to underwriters.  A process that once took days or weeks, now can be done in hours.  Plus, the tool gives risk engineers the ability to enhance their field notes with site photos, voice recording and they can even take their notes via a speech-to-text capture feature, all of which makes the risk assessments even more robust and informative for our underwriters who must evaluate and price the risk appropriately.   

While our iPad risk assessment tool is certainly helping our risk engineers streamline some of their processes, it’s also providing some very cool opportunities for our clients to reap more from their visits. Here’s how:

  1. We can share more information, quicker.  Direct input saves time but also speeds up our delivery; risk engineers can share what they report in their risk assessment more quickly (XL uses a tool called MyAnalysis.)  Also, clients have their own safety guidelines that risk engineers need to know. They can now keep this information close on hand, customize visits based on the client’s information, and get to know clients’ operations better and help service their needs more effectively. Risk manager and facility managers benefit from the immediate feedback plus, they get to see and discuss preliminary reporting results before the engineer leaves the site.
  2. Pictures speak volumes.  To evaluate, communicate and educate a client about specific risks, engineers can now build graphs and charts – in real-time with the data they are collecting onsite. They can produce a pump-test curve chart right on site to evaluate the current operating performance of a fire pump.  It can also graph the fire pump test against the design parameters as well as previous tests – with corrections for speed.
  3. While pictures are worth a thousand words, video can be worth even more. With immediate internet access, risk engineers can reinforce loss prevention by calling up informational videos.  They can go to YouTube or video library and show a video, right on the spot, to illustrate what can be done or what the ramifications are if something is not done.
  4. Access helpful apps. If a client has concerns about how the local terrain poses risks to their property, there’s an app for that! To help explain various scenarios or observed risks, risk engineers can easily turn to other applications available on the Internet to help evaluate and illustrate possible risks and share more information about how our clients can improve their loss prevention efforts.
  5. We can strike up more conversations. Risk engineers work closely with our clients. If they are spending less time inputting data or riffling through folders or volumes of building codes to find the needed information, they can spend more time talking with our clients, offering them guidance on loss prevention and making relationships stronger.

Today, thanks to our mobile Risk Assessment Field app, there is more time for conversations about actions, safety strategies and remediation approaches that can help protect their properties and employees.  And these conversations are further supported by the other online tools and capabilities that this new iPad tool offers, right at our  fingertips.  More risk engineers are leveraging technology to engage customers in a meaningful dialog about loss prevention and property protection.  How cool is that?

As published on Insurance & Technology’s I&T Community



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