How Property Risk Software Empowers Remote Risk Management

Our view of the workplace has changed so rapidly in 2020, it’s almost hard to believe that mere months ago most organizational activity and culture was steered from a unified office space. Now so many of us are out there, castaway to our own home office desert islands, Zoom-ing and Microsoft Teams-ing each other with high-tech messages in a bottle, grateful that the connectivity of our time has made this as effective and flexible as it has.

What’s more, companies are seeing the benefits of remote work in productivity gains, greater employee flexibility, and the alluring potential for smaller office space footprints. So as the threat of the virus ultimately dissipates, the question becomes: is it possible or even preferable to abandon our private office islands for that unifying organizational ship again? Or is some innovative new balance of the two waiting for us on the horizon?

For property risk managers, this makes robust risk management software more important than ever. An effective property risk management solution can solve many challenges associated with working from home, giving organizational staff, risk pool members and others, the ability to keep risk programs moving smoothly in 2020. Not to mention, they make it easier to navigate the unchartered waters ahead.

Important features you’ll particularly enjoy when using property risk software for remote risk management include…

All Your Property Data, All in One Place

No more folders and spreadsheets and version control issues. No more handwritten (or overwritten!) notes. No more questioning whether the missing data you seek is out there… somewhere… and where? An effective property risk management tool should house all of the details everyone throughout the process needs in one database, so all properties are fully-insured and the best insurance rates are within reach. Primary and secondary COPE data, catastrophe modeling details, and mapping information should be accessible through the application and available (and editable!) to anyone with the right permissions. For example, Centurisk’s AMP software includes all of the options mentioned above, plus allows you to attach relevant documents and property photos to individual property entries. So, it’s all together and available at the click of the mouse—ideal for accurate, informed remote risk management work.

Powerful, Time-Saving Communication

Having the latest property data available in real time, at all times, is certainly a benefit and helps make sure everyone is on the same page, no matter where their location. It can also be a serious time and energy saver when it comes to the insurance renewals process. Property risk management software like AMP can help improve the renewals process by taking it online—with automated email communication, schedule reminders and documentation of those interactions. Always know what was communicated, with whom and when. Choose to set specific permissions to allow designated risk pool members to update their own property data. The streamlined process improves communication and means you avoid having to track down members for phone call reminders and data-gathering, or having to travel for on-site, in-person visits. This becomes particularly handy when in-person interactions and travel aren’t always possible due to COVID-19.

Documented Accountability, Greater Accuracy

We touched on this in the previous section, but it’s worth discussing further here. A property risk management system is extremely useful for increasing accuracy while maintaining accountability. Spreadsheets have often been a staple of property risk managers because of their organizational capabilities, but they’re not without their drawbacks. Passing these electronic documents around for input and updates can cause version control issues and create email trails a mile long. Property risk management software stores all the same details— in fact, more of them and in one comprehensive space— plus tracks a history of updates by user. So you’ll always know the whos, whats, whens and whys of changes in the system. When colleagues and contacts may be harder to reach remotely, this can save significant time and detective work. Remote risk management becomes easy and efficient.

Benefits that Reach Well-Beyond 2020

The best part about robust property risk management software is that it’s an investment that serves your property insurance program well now, and years from now. Whether you’re working from home, back in the office or some combination of the two, it works flexibly the way you do, keeping your program on course all the way.

To learn more about how Centurisk’s AMP Property Risk Management software can help your program, click here.

And to learn more about other ways you can make remote risk management streamlined and more accurate, click here.

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