From Paper to Portal
Part 8 of 8: What Your Insurance Broker Isn’t Telling You
In today’s real estate environment, portfolios are constantly changing. Whether acquiring, selling, updating and/or refinancing, it’s critical to understand your properties’ characteristics and can access this data quickly.
It seems almost every institution you deal with – from banks to insurance companies – wants more information about your property so they’re able to properly do their job. But how are you keeping all this data updated and readily available? I’ve seen business owners take months to gather required data and provide it to the necessary parties. If you’re not ahead of the curve now, it’s time to make a change.
With the constantly growing capacity of data and information, property owners, operators and managers are taking advantage of various digital tools to make their jobs easier. Why manually manage file cabinets and desks filled with paperwork when it can all be done digitally?
When it comes to marketing your insurance portfolio to underwriters, this data is critical in obtaining the best rates carriers can offer. Your broker should have the ability to house all this information for you, so when the time comes, they can effectively manage the data for your best interest with lenders, underwriters, etc.
Assurance’s portal, Assurance EXP, is one example of a data management system that tracks clients’ insurance program forms 24/7 – making it a seamless experience across all lines of coverage. Having that data at your fingertips can improve internal processes and accessibility.
Have you talked to your broker about how they store and use this data on your behalf? Is it all readily available, or do you need to sort through emails and folders? A member of the ‘A’ Team is ready to help you learn more about technology and data management. Chat with us!
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