BOSTON--(BUSINESS WIRE)--Global Risk Consultants (GRC), the world’s leading property risk engineering company and Archipelago, the leading property risk data platform, announced today a new partnership utilizing artificial intelligence 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.
“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.
About Archipelago
Archipelago is an AI technology and data analytics company transforming how commercial property risks are understood and managed by owners, operators, and risk managers. The high-quality data generated through Archipelago’s platform can be shared securely with stakeholders to deliver innovative services and solutions to their customers. Learn more at OnArchipelago.com.
