Provide management with the best value insurance coverage by matching the company’s resilience and quantified recovery options with an appropriate insurance provider to insure a more optimized risk-to-premium loss prevention options; this would ensure objective pricing of the losses that can be firmly anticipated for a specific timeframe, using verified data, which has been also validated using a four-eye principle by senior corporate management.
|Current Approach||Audeamus Approach|
|Uses mathematical modelling||Actual data from the BIA process and proven resilience techniques. Information of certified nature co-signed / approved by senior management.|
|Critical factors mainly unmonitored||Monitored through telematics and other communications means (where applicable/possible) at frequency pre-determined by insurance company.|
|Static policy||Dynamically updated, according to the company’s changing business needs and market conditions.|
|Limited, or no use of predictive analytics or maintenance information||Predictive maintenance information complements the BIA and enables both Cedent and Insurance company to have more confidence in operational matters and insurance policies respectively.|