Don't Dread Renewal Time | Riskonnect

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Don’t Dread Renewal Time

 

Don’t Dread Renewal Time

Property values collection–it’s an annual task that risk managers like yourself have to complete. But there is no reason to dread annual property renewals–make this your time to shine!

The problem most risk managers complain about regarding property values collection is the administrative burden caused by aggregating spreadsheets and monitoring the collection status – who has turned it in and who has not, adding new properties, and removing sold properties. If you have hundreds of properties for which you must renew insurance, gathering updated Total Insured Values (building replacement cost, equipment, inventory and/or business income) or any upgrades to COPE (Construction, Occupancy, Protection and Exposure) data can be a daunting task.

Perhaps you have properties across the globe and you have to manage multiple currencies and languages, making the process of compiling property values is even more daunting. The property renewals process is a challenge, but it doesn’t have to be.

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