What do over 180 risk managers with portfolios of $100M+ in TIV think of the commercial property risk management landscape? This second annual report outlines their thoughts.
The 2022 Property Risk Management Report is here! Archipelago and Advisen’s second annual survey brings to light the evolving opinions and roles of U.S. risk managers with large portfolios of insured property.
The survey results indicate that risk managers seek a more proactive position in the value chain. Their goal is to move upstream within their organizations and influence strategy for initiatives around risk, resilience, and mitigation. As a result, they prefer insurance industry partnerships that are transparent and provide data-driven actionable insights rather than relationships solely focused on the exercise of pricing risk and purchasing coverage.
Some key highlights of the report include:
77% of risk managers find managing and maintaining SOV data complicated.
66% of risk managers want more transparency into property insurance underwriting and pricing.
Only 19% of risk managers understand how insurers use their statement of values (SOV) data.
Downloadthe report for more findings from the Property Risk Management Survey.