Using Data to Drive Value to Our Stakeholders
At JLL, we’re embracing digital innovation across the breadth of our business and seeking ways to leverage data to continuously drive value to our stakeholders. We’ve made digitizing risk a key priority.
With JLL’s Property Management Insurance program, our customers already benefit from an efficient add-on to JLL’s Property Management service offerings - our Risk Management team structures broad terms at competitive pricing because we pool our clients’ risks - data being a critical input. With this process comes many challenges with data collection, validation and enhancement. By streamlining and significantly improving this annual struggle, not only do we improve the process for our clients, but, more importantly, we also improve their COPE information which helps our insurers better understand the risk and ultimately improve coverage and cost. We achieved this while neatly submitting a consolidated, uniform and organized submission to global insurance markets in a very fun and exciting way via the Archipelago platform!
This is just the beginning of the new possibilities. Next steps for us include expanding utilization of the platform to our Asset Management business, and we believe there will be material cost savings in the future by us doing so.