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Managing Insurance Renewals WITH ReSure ONLINE. Collecting accurate, complete, on-time insurance renewals information from many sources. Impacts organisations.

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Presentation on theme: "Managing Insurance Renewals WITH ReSure ONLINE. Collecting accurate, complete, on-time insurance renewals information from many sources. Impacts organisations."— Presentation transcript:

1 Managing Insurance Renewals WITH ReSure ONLINE

2 Collecting accurate, complete, on-time insurance renewals information from many sources. Impacts organisations with:  Many locations, many people involved  Geographically spread  Multiple currencies and other units  Unusual risks The Problem…

3  Duty of Disclosure  Undeclared and underinsured assets and liabilities  Time and cost of collecting information  Corporate governance issues:  full knowledge of assets and risk exposures?  processes in place for managing this information?  who owns and controls your insurance information?  Underwriting principle: Without quality information, assume the worst, then price accordingly! Why worry about managing insurance renewals better?

4 In today’s insurance markets, leading brokers advise that the difference between a good and a bad renewals submission is 10% to 20% of total premium.

5  A single, consistent database for all users  Tailored to business requirements  Better data quality  Eliminate paper forms, manual consolidation  Automate the renewals process  Provide access for the insurance market  Secure and private  Integrated with other RM functions  Clear ownership of information Key Renewals Issues…

6  A Web-based software application  Single, consistent, central database  Automated, managed renewals process  Customised to your unique requirements  Data validation and control  Secure, controlled access by stakeholders  Integrated with other RM information  Client owns the information The ReSure Solution…

7 ReSure Stakeholders

8 The ReSure Process Insurance Periods Risk Templates Business structures User rights and responsibilities e-Notify system users Bulk loading from spreadsheets Track collection progress e-Notify visitors (insurers, brokers) Access renewals information Complete renewals and re-start

9 Risk Class Property Motor Vehicle Liability.. Sites Physical Locations Business Groups Context Business Geography Zones (Insurable)Entities Buildings Vehicles.. Measures, Values and Units Stock100,000 AUD Volume5,750Cu M Height12.5 Metres ModelFord Escort How ReSure organises renewals information Attachments Surveys Photos Maps.. Conversions Currency Length Volume.. Periods

10 Function  Role  DefineCollectPublish Admin Manager  User  Visitor  The ReSure Security Model Data Access: Full Access Limited Access

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12  Own and control your information  No capital investment required  Single, consistent, central database  Reduced cost of collection  Improved quality of information  Global access – but secure and private  Better information  Lower premiums Summary of Benefits of ReSure

13 For further information please visit


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