with VP Risk Management,
Top US Asset Owner
Q: What levels of enriched data on-platform did underwriters value having about your portfolio, creating impact for you programs' 2020 renewals?
A: On Archipelago, we were able to enrich the quality of 85% of our overall portfolio, including for over 95% in cat-exposed regions, including geo-coding, hazard zone refinement, construction, and occupancy coding standardization. That made a difference in a hard market. The platform also enabled us to deliver to underwriters model-ready files, configured and coded to make it easy for them and their teams to download and use the enrichments in their process. Making the process easier for them also helped us stand out, particularly given market and COVID disruptions.
Q: Why does your stewardship help you stand out?
A: Providing more than just enriched COPE and modeling data helped us stand out. Since we broke free from one-dimensional spreadsheets, we were also able to highlight, with data, the stewardship of our assets in ways that were not possible in the past. For example, Archipelago enables us to provide evidence links showcasing the work our team of technical specialists does to maintain, inspect and improve our properties—many of which are assets we developed or have capital improvement plans. We were also able to encode the work we do to validate the building valuations, which I know is very important to our underwriters.
Q: How else did you help insurers to understand your portfolio?
A: On Archipelago, underwriters were also able to easily analyze for themselves the year-on-year changes in each of the portfolios, accelerating their insight about the composition of our risks via intuitive dashboards, maps, and visualizations. Our portfolio is constantly evolving, and making this easy to see and tracking it really helped. We’ll be giving them quarterly updates on the platform as well.
Q: How did Archipelago help you manage your renewal given COVID disruptions?
A: Our brokers were not only able to securely share not only the property data and modeling files but also key documentation about the properties and the insurance programs, making all this key information organized and readily available at any time and from anywhere to the underwriters via a virtual roadshow, which was particularly important given COVID-related disruptions.
Top US Asset Owner at a glance
- Top Ten North American Asset Value Ranking
- Multiple Strategies Across Funds
- CRE Equity and Loan Portfolios
- Decades of Experience Developing and Acquiring Properties
- Significant In-House Expertise