Case Study

Top US Asset Owner Case Study

Top US Asset Owner
by Top US Asset Owner
3 min read
January 5, 2022

"Archipelago gave us the ability to streamline our renewals and deliver a new way to tell our portfolio story—virtually and securely."

 

– VP Risk Management, Top US Asset Owner

Archipelago’s Risk Data Platform positively impacted a Top US Asset Owner's 2020 insurance renewals across all of its insurance programs.

*The Top US Asset Owner addressed in this article is covered anonymously.

A top US Asset Owner insures its $35B of real estate equity assets across four insurance programs, representing a diverse mix of properties and asset types. Archipelago partnered with this Asset Owner and its insurance brokers to share and permission secure links to the Asset Owner’s data on Archipelago in support of its 2020 renewals for each of its programs, including via virtual roadshows with markets in the US, Bermuda, and London, to overcome COVID-19 disruptions.

“Given that in-person meetings were restricted this year due to COVID, the Archipelago platform provided us with a unique way to showcase our customers' robust building characteristics, accurate values, and commitment to loss control.”

 

– Insurance Broker, representing the Asset Owner's Risk Management program

For large and dynamic portfolios, preparing for renewals is a time-intensive process as source data is often fragmented, hampered by ad-hoc connections between systems and sources, with valuable information seemingly just always out of reach. Moreover, even when finally updated (and quickly outdated!), traditional statements of values spreadsheets (SOVs), attached and sent by emails to insurers with disconnected documents and presentations, simply don’t do justice to the character and quality of the insured assets.

For its 2020 renewals, the Asset Owner used Archipelago to enrich its data and then provided its panels of insurers secure links to not only the data, but also to a range of interactive analytics and visualizations that highlighted the portfolios, changes from prior submissions, the quality of the data and its provenance, and their differentiating risk management practices; all providing insurers an efficient and clear way to understand and underwrite this Asset Owner’s risk.

“With the rapid emergence of technology in our market, Archipelago provides an efficient and comprehensive vehicle to accelerate the renewal process into the digital age for risk managers and underwriters.”

 

– VP Risk Management, Top US Asset Owner

 

Archipelago's impact

$35
B

Asset Value loaded on Archipelago

>5

Insurance Programs with Virtual Roadshows on Archipelago

154

Underwriters accessed Archipelago across its Insurance Placements

85
%

Of overall property TIV enriched on Archipelago

96
%

TIV with evidence links to data sources

94
%

TIV coded with Sprinkler Data

100
%

TIV coded with Stewardship Data

Q&A

with VP Risk Management, Top US Asset Owner

Q: What levels of enriched data on-platform did underwriters value having about your portfolio, creating impact for you programs' 2020 renewals?

A: On Archipelago, we were able to enrich the quality of 85% of our overall portfolio, including for over 95% in cat-exposed regions, including geo-coding, hazard zone refinement, construction, and occupancy coding standardization. That made a difference in a hard market. The platform also enabled us to deliver to underwriters model-ready files, configured and coded to make it easy for them and their teams to download and use the enrichments in their process. Making the process easier for them also helped us stand out, particularly given market and COVID disruptions.

Q: Why does your stewardship help you stand out?

A: Providing more than just enriched COPE and modeling data helped us stand out. Since we broke free from one-dimensional spreadsheets, we were also able to highlight, with data, the stewardship of our assets in ways that were not possible in the past. For example, Archipelago enables us to provide evidence links showcasing the work our team of technical specialists does to maintain, inspect and improve our properties—many of which are assets we developed or have capital improvement plans. We were also able to encode the work we do to validate the building valuations, which I know is very important to our underwriters.

Q: How else did you help insurers to understand your portfolio?

A: On Archipelago, underwriters were also able to easily analyze for themselves the year-on-year changes in each of the portfolios, accelerating their insight about the composition of our risks via intuitive dashboards, maps, and visualizations. Our portfolio is constantly evolving, and making this easy to see and tracking it really helped. We’ll be giving them quarterly updates on the platform as well.

Q: How did Archipelago help you manage your renewal given COVID disruptions?

A: Our brokers were not only able to securely share not only the property data and modeling files but also key documentation about the properties and the insurance programs, making all this key information organized and readily available at any time and from anywhere to the underwriters via a virtual roadshow, which was particularly important given COVID-related disruptions.

 

Top US Asset Owner at a glance

  • Top Ten North American Asset Value Ranking
  • Multiple Strategies Across Funds
  • CRE Equity and Loan Portfolios
  • Decades of Experience Developing and Acquiring Properties
  • Significant In-House Expertise 

 

Company
Top US Asset Owner

Industry
REIT

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