Address underinsurance easily and effectively

An estimated 85% of New Zealanders are underinsured on their home and contents insurance. That represents a significant risk – both to you and your insurance customers. A Cordell Sum Sure Portfolio Review can provide you with updated rebuild estimates and property attributes across your home insurance portfolio, helping you to quickly and easily identify and manage underinsurance.

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Reduce risk for you and your clients

Rebuild costs are constantly changing and a property’s insurance cover may not reflect the current reality. The greater the time since the last rebuild cost estimate, the greater the gap may be, even if you index at renewal. By actively considering the underinsurance in your portfolio through our Portfolio Review service, you can help to ensure that your clients are not left without adequate cover at the point of claim. You may also even reduce compliance issues and drive increased revenue.

Spot premium leakage

Portfolio Review can identify residential policies that are underinsured or have incorrect property attributes; policies which can have an underwriting impact and be a significant source of underpaid premiums.

Make insurance renewals easier

Being able to re-assess the rebuild costs of properties in your portfolio can make it easier to price renewals accordingly, taking into account any updated property attributes for the cover, and new estimated Sum Insured values. Use the estimates to help you to engage clients with renewal offers or adjustments on properties that have been underinsured.

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Target the right customers

Portfolio Review will allow you to proactively approach customers who need to reconsider their insurance cover. Customers may not advise you when they have completed an extension or a renovation. With comprehensive information at your disposal, you can ensure customers have information to help manage their risk too. The result will likely be more appropriate insurance cover based on informed decisions that they can be confident in.

Start moving forward.

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