Global Risk Consultants Partners with Archipelago to Deliver AI-Powered Property Risk Data Insight

Global Risk Consultants (GRC) and Archipelago announced a new partnership utilizing artificial intelligence (AI) to provide risk managers and owners of large commercial real estate portfolios actionable insights into their property risk data to improve efficiency, increase transparency, and drive improved financial outcomes.
The partnership will increase efficiency and efficacy for clients by:
• Navigating hard commercial property insurance market through accurate and enriched property level data
• Providing additional control and insight to optimize insurance outcomes
• Utilizing AI to enrich geo-coding, COPE, cat-risk data, and other property attributes to positively impact insurability on the property and portfolio level
• Monitoring risk recommendations, prioritizing data improvements, track changes to locations
in real-time, and benchmarking against the competition.
Here follows the announcement.

“Navigating today’s hard property insurance market demands accurate and insightful data. Demonstrating an optimized risk portfolio for underwriters requires a combination of robust property metrics, accurate and impartial risk engineering data, and a compelling mitigation strategy,” said Peter Linn, Vice President of Risk Engineering Services at GRC. “Archipelago will help GRC customers gain more control and insight into critical property risk information, improve efficiency, while delivering greater insight and improved insurance outcomes.”

The partnership will allow companies to utilize AI to enrich geo-coding, COPE, cat-risk data, and other property attributes with the ultimate goal of impacting insurability on the property and portfolio level. Clients will also be able to monitor risk recommendations, prioritize data improvements, track changes to locations in real-time, and benchmark against the competition.
The GRC/Archipelago partnership helps companies respond to the disciplined insurance market, enrich data, house all information on one platform, and eliminate time-consuming spreadsheets. With enterprise-level data security, an API connection, and seamless data transfer, risk managers can easily share granular safety and risk mitigation updates with underwriters throughout the year, so renewals are much smoother.

Helping commercial property owners solve for securing insurance through reimagined building data practices sits at the core of our platform’s value proposition,”said Hemant Shah, CEO of Archipelago.

“When clients onboard their data – leaving the age- old spreadsheets – the doors to more effective data collection, processing, and sharing with brokers and partners unlocks a litany of business efficiencies that go well beyond securing commercial insurance coverage.”

ABOUT GLOBAL RISK CONSULTANTS
Global Risk Consultants, a TÜV SÜD company, is the worldwide leader in unbundled property loss control, providing the risk management community with accurately qualified site-specific risk recommendations and loss expectancies resulting from property related perils. The company has worked with 20% of the Fortune 500, conducted 56,000 onsite engagements, serviced facilities in excess of $4 trillion, and helped clients reduce their risk exposure by $683 billion. Visit http://www.tuvsud.com/grc.