+ + + premium auditeffective trainingloss control & commercial surveys residential underwriting...

+ + +premium audit effective trainingloss control & commercial surveys

residential underwriting surveys

© 2010 Overland Solutions, Inc. Confidential and Proprietary

The Value of OutsourcingPremium Audits/Loss Control/Surveys

2010 NCSI Annual Meeting: May 24-25, 2010

NATIONWIDE EXPERTISE SUPERIOR QUALITY EXCLUSIVE TRAINING PROGRAM TRUE CUSTOMIZATION ON TIME SERVICE WWW.OLSI.NET




Solving What Keeps You Up at Night

+ For me it’s the following are always on my mind:+ Figuring out how to increase sales + Decrease expenses+ Supply sufficient work for employees + Provide an acceptable return for our Board of

Directors

+ I am certain this is similar to what you think about.




The Dilemma + The insurance industry has experienced some

interesting times. + Competitive conditions have led to decreased pricing,

forcing a greater pressure on: + Effective underwriting + Cost management

+ Some pressure was relieved by higher investment income which offset the pricing declines until the financial markets practically collapsed.

+ With decreased investment income, what can a sensible company do to provide adequate returns to its stakeholders?




The Solution

+ The answer lies in a more focused approach to:+ Efficient expense management + Prudent underwriting through increased

information+ Improved workflow efficiencies+ Improved return on investment

+ You need to figure out how to achieve these critical objectives.




The Solution

+ Expense management means controlling:+ FTE costs and people-related expenses+ Possibly reducing staff

+ With workforce reductions, collecting data critical to improving your underwriting results and loss ratios can suffer.

+ Several points of improvement in underwriting loss ratios can far outweigh the improvements gained through budget reductions.

+ Easily done through Outsourcing




Advantages of Outsourcing

+ Embraced today by companies of all sizes in the insurance industry

+ Growing trend of relocating entire business functions to third-party service providers

+ Assistance with expensive in-house tasks that drain time and internal resources to boost your bottom line

+ Partnership with an outsource partner offers many rewards




Advantages of Outsourcing

+ Cost savings+ Flexibility+ Quality & Timeliness+ Customization+ Superior technology+ Invest in profitability




Cost Savings

+ The greatest, most attractive benefit of outsourcing is cost-effectiveness

+ Economies of scale save money because unit costs decrease as volumes increase

+ An outsourcing partnership can achieve economies of scale unavailable to an individual firm because we service multiple clients across the U.S.

+ Results in higher quality service at a lower cost




Flexibility

+ Many businesses experience times of high and low demand throughout the year

+ The cost of hiring full-time employees for an uncertain workload is more expensive than the price of using an outsource partner + Therefore, your organization will not need to

increase its head count throughout the vacillations of your business cycle.

+ Outsourcing can accommodate your needs as demand fluctuates




Quality & Timeliness+ Choose an outsourcing provider that has perfected its

service offerings+ Specializes in detailing outsourcing needs+ Highly skilled, knowledgeable nationwide workforce + Innovative, “best in class” technology to support

their platform of products+ Proficiency will increase the speed that your

completed work is delivered and will enhance the quality of the final product.




Customization

+ A partner who will work with your company to develop special forms and a work process unique to your needs and business requirements.

+ Develop efficient workflows.+ Capable of providing the necessary

customized management reports to allow for proper tracking of performance and inventories




Superior Technology+ Overland Solutions’ technological expertise is best in

class.+ We offer an array of solutions to provide a systematic,

flexible and safe data exchange.+ Our state of the art automation capabilities allow for a

cost-effective means for your company to deliver and receive completed audits and surveys using options such as our website or system to system interfaces.

+ Our systems are transparent, allowing you to see exactly what is occurring with every work order.

+ Technology allows you to operate with less manual procedures and reduced clerical support.




Invest in Profitability+ Outsourcing allows a company to invest time and

resources into more profitable activities and key competencies.

+ As the leader of your organization, you may choose to outsource and off-load less interesting, “commodity” projects to an outsource partner

+ Saving time for your internal staff to pursue new development opportunities and growth-oriented activities.

+ Outsourcing can also free up management time to focus on more strategic goals and customer relationships instead of the supervision of daily operational pursuits.




Gather Valuable Information+ Companies often do not know the true nature of a

risk until it is too late and a loss occurs.+ Understanding a customer’s characteristics can

be useful in discovering unacceptable risks.+ This priceless insight can only save you money

and improve your overall underwriting results.




Gather Valuable Information+ A realistic approach is to find better data to

understand the operations of a risk.+ This data can be obtained through:

+ Loss control visits or safety assessments+ Inspection surveys (on-site)+ Premium audits

+ These reports empower you to properly classify your business and make informed decisions on the profit potential of each insured.




Loss Control Consulting




Loss Control Consultative Services+ Our loss control work is consultative and can be

customized to be client or account+ Identify hazards+ Generate recommendations+ Assistance to implement recommendations + In-depth field surveys + Loss control training + Ongoing service work

+ Risk Management Services

+ Loss Control Studies &Training Services

+ Specialty Services+ Ergonomics, Industrial Hygiene, Security, Property & HPR, Disaster Recovery, Fleet &

Transportation, Fault Tree Analysis, Job Studies, Hazard Assessments, Life Safety, OSHA & Product Safety. Development of Safety Training Materials, Videos, Bulletins, OSHA, etc.




Loss Control Surveys+ Full Property & Casualty Coverage options

+ Multi-coverage options

+ Loss Control Consultants and Reviewers average 20+ years of experience

+ Loss Control Consultants and Reviewers have science and/or safety degrees

+ Risk Assessment, Risk Analysis & Forecasting

+ Accident Studies and Evaluations

+ Custom Surveys

+ Account Service




Premier Survey

+ Highly Seasoned Field Staff and Reviewers+ Adaptability to Customer Formats+ Customization+ All Property & Casualty Coverage Options Available+ Ample Photographs+ Advanced Recommendations+ Narrative-driven Report+ Diagrams+ Valuation (ITV) + Two Service Choices:

+ Fixed rates based on scope of work+ Hourly rate is limited to survey report time




Core Survey

+ General Information Page+ Ample Photographs+ Recommendation Page+ Base rate is a fixed service to include one (1)

coverage report+ Additional Coverages: BOP (considered single coverage),

Property, General Liability, Garage Liability, M&C - Completed Operations, Product Liability, Workers Compensation, Auto, Builders Risk, Contractors Equipment, Inland Marine, Vacant Building, Job Site & Resurvey

+ Additional rates: Added Coverage, Supplements, Estimator, Diagram & Large Buildings based upon square footage




Value Survey + General Information Page

+ One Coverage Report+ BOP Considered Single Coverage+ Property+ General Liability+ Garage Liability+ M&C - Completed Operations

+ Ample Photographs+ Limited recommendations+ Budget-friendly base rate includes one (1) coverage report

+ Additional services: Supplements, Valuation, Diagram & Large Buildings based upon square footage




Survey Product Detail

FeaturesOverland Solutions

SurveyOverland Solutions

Core Survey

Overland Solutions

Value Survey

Property, GL, M&C and BOP

Report Style Mostly Narrative Checklist & Narrative Mostly Checklist

Amount of Narrative Extensive Moderate Limited

Loss Control recommendations

Comprehensive Moderate Limited

Field Professional Skill Set Level 2 Level 2 Level 1

100% Quality Review

Price$$$ - Fixed & Hourly

Rate$$ - Fixed Rate $ - Fixed Rate

Loss Review

Opinion of Risk Provided

All Lines - Property and Casualty

Underwriting Analysis Comprehensive Moderate




Coverage Offerings

Coverages Included

Safety Resources

Loss Control Consultative

Services

Safety Resources

Loss Control Surveys

•Overland Solutions

Premier Survey

Overland Solutions

Core Survey

Overland Solutions

Value Survey

BOP Property General Liability M&C - Completed Operations

Garage Liability Products Auto Inland Marine Contractors Equipment Workers Compensation




Premium Audit Services




Premium Audit Services+ Work completed by an all-employee

premium audit work force in all 50 states+ Our services include:

+ OSI Physical Audit+ OSI PIVOT Audit+ OSI Telephone Audit+ OSI Voluntary Audit+ Audit Extensions+ AuditStreamCOMING SOON!




OSI Physical Audit

+ Your special requirements can be outlined in a client book built especially for you

+ Your choice of standard or custom forms

+ A skilled professional will then examine policyholder records on location to gather critical facts+ While on-site, the premium auditor will observe the business

and complete a detailed description of operations in their completed report.

+ We review 100 percent of all completed premium audits.




OSI Telephone Audit+ Audit-specific information without an actual visit

+ An ideal option to collect vital data throughout the United States for clients with smaller policy exposures

+ Budget-friendly option




PIVOT Audit+ The PIVOT Audit is a fully-verified premium audit conducted remotely by a seasoned auditor.

+ PIVOT Audit data will be collected via email, fax or phone.

+ Although some information will be collected by telephone, our audit professional will review the same source records as an OSI Physical Audit.

+ PIVOT Audit is best suited for smaller risks that fall outside traditional telephone premium audit thresholds or to assist with record verification to confirm the accuracy of premium exposures.




OSI Voluntary Audit

+ A skilled OSI telephone premium audit professional can perform a voluntary audit as a low-cost alternative for smaller policy exposures.

+ We will mail a premium audit form to the policyholder to complete, asking for information about business operations and actual exposures.

+ The results are reported to the insurance carrier for analysis.




OSI Audit Extension+ Premium audit billing statements can be customized to fit your criteria.

+ The actual premium is calculated upon completion of your premium audit.

+ An OSI Premium Audit Extension includes application of rates, endorsements and other adjustments to determine the final exposure base.




AuditStream+ AuditStream is in product development exclusively by Overland Solutions, Inc.

+ It is designed to handle voluntary and mail premium audits electronically.

+ The entire process is geared toward maximizing service selection by tailoring the audit need.

+ AuditStream will provide a higher success ratio of receiving a completed audit that is more accurate and timely.




AuditStream Portal




Questions




Thank you.

Mario Fiel, AVP-National Sales Director

877-431-4560

[email protected]

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