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Looking to reduce PI exposure and develop premium growth at the same time?

Published

2019

Thu

01

Aug

 
  • Commercial Risk surveys; Critical for growth in current market conditions.
  • Looking to reduce PI exposure and develop premium growth at the same time?
  • PI exposure mitigation with premium growth all under the same roof

 

AMS, the largest independent commercial risk surveying company in SA, with over 21 years  service in risk surveys to the wider insurance industry, is on a goal orientated drive to convey the lesser discussed service, which not only delivers insurers with compliancy requirements for its commercial clients but critically offers a high level of return to the entire insurance distribution network which includes the claims area.

This service delivers critical feedback through the insurance value chain, (both traditional as well as direct insurance), from quote stage up to and including the claims stage. Of critical importance is the fact that the technical  knowledge of this critical service has been diluted and or in some cases completely lost over the last few decades.  As the highly competitive insurance market has aligned its own strategic business models to focus on growth and subsequently claims, there has been an ever increasing gap between what insures offer as adequate cover and how they mitigate this extensive cover in line with its mammoth compliancy requirements from various re-insurance programs and or treaties.  AMS in conjunction with some of its established clients has, over the years, developed a level of risk surveying that delivers direct ROI to the client (Premium payer), the insurer (Risk taker) and the broker, (The administrator, growth/sales driver)

Bernd Veening CEO of AMS, confirms that this level of survey/risk management has been very successful in delivering the desired results through the various channels.

Peter Olyott,  CEO of Indwe Risk services, concurs. “We  embarked on  an extensive risk program with AMS, on a national basis, which shows that this level of underwriting service can potentially significantly   mitigate exposures. Of concern to us, in particular as compliance is  critical, is how to effectively and professionally mitigate our clients’ risk exposures  but at the same time deliver what our clients (Premium payers) expect of us. This program has shown what is in fact possible.  Our program with AMS has the potential to provide for both an encouraging return in terms of  mitigating our levels of PI cover due to under insurance and perhaps important uninsured risks ,  but as  importantly,  offers us a tool in driving our challenging growth models.”

Bernd, adds, “our national footprint as well as our technical insurance knowledge, developed over the last two decades, allows AMS to lead this market offering. Key to this is the potential cost saving to insurers who have traditionally used in house resources for this task. Our cost effective, service level driven model, allows us to deliver excellent alternative ROI generation for insurers nationally.”

 
Source: Asset Management Solutions
 
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