Customer Story Transcript:
"I am a risk manager for a real estate investment advisory firm. We're located in Los Angeles. We have just under five billion assets under our total insured value for our insured program.
When we would prepare the statement of values for the underwriters, it was an Excel spreadsheet. Then, the underwriters had to take information from the Excel spreadsheet to make it model-ready for when they were running RMS and AIR. So there was a lot of manual data input, which can also lead to a potential of some issues. But now with being on the Archipelago platform and having the enriched data so that the underwriters can go and verify that what we have said historically is true, I just think it has really made everything so much more dynamic.
The entirety of our risk management department is two people and it keeps me very busy.
Being on the Archipelago platform so that underwriters didn't have to come back asking me specific questions about something that they'd seen in an Excel spreadsheet, but being able to go into Archipelago and find things for themselves, that was, it was very valuable to me last year.
So you wanna really differentiate yourself. I wanna show underwriters that our portfolio is different because we have class A buildings. Our due diligence when we acquire assets is very robust because of the fact that so much of what comes out of the due diligence exercise is then put on the platform when we go through our enrichments. I think that that really helps to differentiate us, which I think will make us a more attractive account for underwriting and help their portfolio to be more profitable so that they'll continue to write our business and do so at a fair pricing.
Within our organization, we don't have a central data collection that says, okay, let's look at our entire portfolio and what's the average age of our roofs.
Now that we have Archipelago, we do have that. You can sort the information by how much of the portfolio is sprinklered, what's the age of the roof. I think that there's opportunity for real estate firms to use it much more broad rather than just risk management.
My experience working with the Archipelago team is when they do do this check-in, it's like, and how is this working and how is this working? And sometimes we've had feedback. What has been amazing to me is that every time we have done that, there has been a change that then does make it easier for us. And I, again, just think that the Archipelago platform is just the most innovative thing that I have seen, in in my career. I think it's going to be a game-changer for the industry. I really do."
