Verisk Insurance Solutions - Commercial Property, a unit of Verisk Analytics, is introducing a PhoneAssist program to verify risk mitigation factors to be performed.
Some core underwriting functions are essential but time-consuming and expensive for insurers, Verisk said. Through PhoneAssist, Verisk's staff contacts property owners by phone or mail to confirm actions taken; determine a specific plan for taking action, including a time frame; or to confirm that no action has been taken and why. A final report helps the insurer underwrite properties with the risk profiles acceptable to it.
The insurance industry requested assistance in performing follow-up calls to insureds on recommended remediation, conducting low-cost phone surveys for certain businesses and overseeing pre-survey contact verification, Verisk said.
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