The Insight Advantage: Tech-Powered Pricing
By creating a custom, cost-effective water mitigation solution for a nationwide developer, Insight Risk delivered a competitive Builder's Risk offering with close to $20k in premium savings and a $150k lower water damage deductible.
Want to learn more? Read on for the full story.
The Ask
The broker was seeking a policy on admitted paper with competitive pricing for a new project from a nationwide developer.
The sophisticated client had already done previous research on water damage prevention technology and the multiple benefits it provided but was wary of the costs of some of the systems they had seen.
The Result
Insight Risk delivered a comprehensive IoT water damage prevention solution that exceeded the client’s expectations, offering more robust options than those they had previously reviewed but at a fraction of the anticipated cost.
With the IoT technology now strengthening the project’s risk profile risk, Insight Risk secured over $160m in admitted capacity with a lower premium and a water damage deductible than the market, giving the client both the coverage they needed plus the pricing and risk mitigation solution they desired.
The Insight Advantage
Insight Risk was the one-stop shop for the client and their broker, handling both the Builder’s Risk policy and development of a customized water damage prevention solution that met both carrier and customer requirements. The team also presented to the client and provided feedback on their water mitigation strategy prior to the bind.
Despite construction delays slowing the start of the project, Insight Risk stayed current on project timelines to ensure the policy and the technology solution were ready when needed, and with an option for permanent deployment.
At Insight Risk, we help protect commercial ground-up and renovation projects at every stage, combining expert underwriting with proven IoT solutions to prevent water losses before they happen, safeguarding your schedules, your budgets, and your hard-earned reputation. Contact Insight Risk today to discover how our White Glove IoT Risk Tech solutions can safeguard your next adaptive reuse project from Day One.
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