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Why Having A Skilled Underwriting Team Is Only Half The Battle

8/11/2019

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Why Having A Skilled Underwriting Team Is Only Half The Battle
Underwriters for commercial property insurance have a difficult job and depend on inspection partners and field teams to gather much of the information necessary to make a decision. While available data can provide valuable insight on various risks, including fires, floods, and trends, a visual assessment offers much more. There is an inherent risk in relying solely on provided data without setting eyes on the property and performing a complete survey or inspection. 

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Maintaining Competitiveness In An Evolving Industry

8/4/2019

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Maintaining Competitiveness In An Evolving Industry
Insurers that remain heavily invested in traditional underwriting, as opposed to Insurtech-related digital trends, are not truly fighting a losing battle. The streamlined ease of Insurtech enjoyed by consumers in our digitally immersed culture is occasionally heralded as the only future for the industry as a whole. If history has taught us anything, there is never only one way forward. 

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Using Insurtech's Lagging Commercial Support To Your Advantage

7/25/2019

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Using Insurtech's Lagging Commercial Support To Your Advantage
As the Insurtech market popularity continues to grow among consumers, there is one group of insureds that are seemingly left behind. Business owners looking to insure their properties with the speed and ease of homeowners will be hard-pressed to find a source to do so. Providing commercial insurance on the standard digital Insurtech platforms is rarely seen, and far less popular than the flurry of options for homeowners. While Insurtech does have its downsides, it is becoming increasingly more attractive every year. 

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Climate Change: Bank Or Bust?

7/18/2019

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Climate Change: Bank Or Bust?
Climate change, and its many perceived effects, is one of the most controversial topics in the modern world today. It is viewed as everything from an outright lie or over-exaggeration, to a clear and definite certainty. For insurance carriers in the property and casualty industry, mitigating risk is the most crucial factor in profitability. 

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3 Prime Threats To Maintaining An Accurate Underwriting Process

7/11/2019

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3 Prime Threats To Maintaining An Accurate Underwriting Process
The underwriting process is largely dependent on the information, support, and data received during the task itself. A weak link in any section of this integral foundation can introduce risk into the very process designed to evaluate and reduce risk in the first place. 

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The Uphill Battle Of Private Flood Insurance

7/4/2019

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The Uphill Battle Of Private Flood Insurance
As the National Flood Insurance Program (NFIP) plunges ever deeper into debt even with the hope of reforms or bailouts on the horizon, the stagnation of the private flood insurance market remains somewhat of a mystery. The wide availability and usage of the NFIP brings with it a sense of trust, history, and competency that private flood insurance companies can hardly compete with. Still, the lower prices and more comprehensive protections offered by many alternative flood insurance providers should be alluring enough with the number of insureds worried about high prices and the history of premium hikes.

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What Is The Insurance Risk Services Difference?

6/25/2019

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What Is The Insurance Risk Services Difference?
Insurance Risk Services has been delivering unparalleled insurance inspection and underwriting support services to our clients within the property and casualty industry for over three decades. Whether your business is large or small, national or local, we provide services personalized to your needs, ready and willing to accommodate and customize to fit your unique risk mitigation strategy.

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Venturing Into The High-Risk Property Market, Is It Worth It?

6/18/2019

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Venturing Into The High-Risk Property Market, Is It Worth It?
Carriers within the property and casualty industry have multiple tools to aid them in their never ending quest to mitigate risk. From utilizing ai and big data to taking advantage of commercial and residential inspection technology at the ground level, all efforts pursue this ultimate goal. 

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How Seasonal Inspections Provide Value And Mitigate Risk

6/11/2019

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How Seasonal Inspections Provide Value And Mitigate Risk
In today's competitive property and casualty industry, risk mitigation strategies need to be at their most effective in order to balance the sacrifices made to maintain competitiveness. Utilizing seasonal property inspections are one of a number of options to help achieve results and lower the overall risk that stems from insureds.

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3 Features To Look For When Choosing An Insurance Inspector

6/4/2019

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3 Features To Look For When Choosing An Insurance Inspector
For an insurer, a thorough property insurance inspection is your frontline defense against excess risk and increased loss exposure. Cursory inspections or those performed by an inexperienced property inspector are a direct threat to your bottom line. A lot can happen between the initial inspection and a follow-up inspection, including filed claims; thus the expectation that any original deficiencies would eventually be detected before a negative result occurs isn't an option worth banking on. 

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