As a property insurance underwriter, you need certain information necessary to complete an accurate risk assessment for a property you’re considering insuring. Obtaining this information will also provide an idea of a property’s current condition and value. An insurance inspection is typically completed within 30-90 days of a policy being written, during which time an […]
Month: May 2020
Various Property Inspection Types
There’s an old saying that applies well to parents and other supervisors: “Don’t expect what you don’t inspect.” In the insurance business, a comprehensive property inspection is an important aspect of an accurate underwriting process for determining the viability and cost of a property insurance policy. An insurance property inspection is just one of several […]
The Importance of Insurance Risk in Underwriting
A simple definition of risk is “an uncontrollable, potential loss of something of value.” The entire insurance industry is built around the concept of risk and risk sharing, where the insurer accepts a portion of an insured’s financial risk in exchange for an agreed upon amount of money, or premium. Anyone active in the insurance […]
Benefits That Inspection Technology Is Bringing to Property Insurance Inspections
Through ever-improving technological advancements, the field of property inspection management continues to get better in both ease and effectiveness. To property insurance companies involved in risk analysis for the purposes of performing efficient underwriting of policies, this means improved and more detailed inspection results. Quite often, it also represents fewer dollars spent on the inspection […]
