Risk-Triggered Program
Tool Details
Risk-Triggered Repair and Warranty Program
Proactive Protection for Safer Operations
Description
Activate Repairs Before Risks Turn into Claims
Our Risk-Triggered Program uses IoT data to detect hazards and provides repair credits to fix issues before they cause significant damage or losses.
Vendor:
- For more information about Risk-Triggered Program, reach out to:
Early Hazard Detection
Identifies risks like leaks or electrical faults before they escalate.
Repair Credit Incentives
Provides financial support to fix issues proactively.
Reduced Claim Frequency
Prevents incidents that result in costly claims.
Feature Highlights
Links directly to monitoring devices for real-time alerts.
Calculates the urgency of repairs based on sensor data.
Incentivizes timely repairs with financial credits.
Adapts to specific property needs.
Displays hazard alerts and repair history.
Top Ways to Help Manage or Mitigate Risk
• Immediate repair actions reduce property damage risks.
• Promotes regular inspections and timely maintenance.
• Offers financial support for proactive repairs, avoiding claim escalation.
Broadened Eligibility and Appetite
• Makes high-risk properties eligible for coverage by reducing the frequency and severity of claims.
Loss Prevention Reporting Certificate
risk management tools are actively deployed, monitored, and delivering real-time insights.
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Completed By:
Sarah Thompson -
Position:
Risk Management Director -
Date:
12/04/2023
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