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RISK / SECURITY

RISK / SECURITY

New App from XL Group Improves View of Complex Risks

Staff Writer | February 10, 2014

XL Group’s insurance risk engineers are now using a new app designed for the company to transform how property loss prevention services and risk assessments are carried out and delivered.
The app allows engineers access to data and resources which allows them to better undertake a survey. It allows them to input data and update files to share with clients and underwriters in real time.  XL Group made this investment in its technology to improve the quality, speed, accuracy, and productivity of its risk consulting operations.  It worked with Cognizant, the provider of information technology, consulting, and business process outsourcing services to develop the app.
The app enables XL Group’s risk engineers to stay engaged with clients continuously.  It frees up more time for consultation and facilitates stronger collaboration between clients and engineers. Additionally, it improves throughput, cost-effectiveness, and turnaround time from data capture for customer reporting, while reducing the amount of equipment and paperwork that engineers need to carry onsite.
Commenting, , said:

“It’s a really impressive mobile tool. As well as allowing our risk engineers to better capture information, they also now have live access to our library of best practice advice on site,” says Ian France, chief underwriting officer, international property. “We are finding it much more powerful to provide our clients with live and visual examples of potential risk management solutions when actually on site looking at specific hazards.”

For example, an XL engineer can now call up a video showing how a sprinkler system performs and how a fire spreads if the system is not installed correctly or storage heights are exceeded, according to France.

“This approach allows for an immediate and visual demonstration of the value of risk engineering and drives a more collaborative approach to loss prevention with our clients,” he says. “Working in this way allows us to quickly and seamlessly access, capture, and analyze critical data. We believe it delivers an improved view of complex risks to underwriters and clients.”

 



The Group’s Executive Vice President and Chief Platform Officer, Myron Hendry, said: “With risks getting more complex, leveraging best-in-class mobile technology is key to further enhancing XL Group’s risk management capabilities, underpinning the flexibility, resilience, and creativity that differentiate us.”


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