MASS Systems, UK supplier of facilities, estates and property management software, has introduced a new software application to help organisations provide their insurers with risk assessment information about buildings and assets.
Insurance MASSter works with the ARCHIBUS/FM facilities management software and is being provided on a complimentary basis to existing users of the system who have a support contract.
What they say
"Insurance premiums for commercial businesses have increased significantly over the past few years, due to a number of reasons," says MASS Systems’ Managing Director, David Bolt. "There have been catastrophic events such as flooding, terrorist attacks and major fires in a number of different industries. As a result of this, insurers now require as standard much more detailed underwriting information to assess a risk; for example, details about the construction of the outer and inner fabric of buildings and comprehensive health and safety information. We have developed Insurance MASSter to help organisations satisfy the risk assessment requirements of their insurers by providing detailed reports which contain the information required at the renewal of an insurance policy."
Insurance MASSter can help organisations benefit from reduced insurance premiums through the ability to show detailed risk assessments, the firm says. Similarly, businesses can more easily identify whether or not they have adequate insurance cover, it is claimed. Other features include:
Ability to provide brokers with detailed underwriting information in good time before renewal date
Provision of insurance information by spreadsheet to brokers which can then be used by insurers for assessing premiums
Reduced administration, as broker renewal questionnaires should not require completion
Up to date values of assets are used to calculate insurance premiums which will mitigate the use of an under-insurance clause on the insurance policy
Ability to demonstrate to an insurer the standards of management and housekeeping within the business.
Insurance MASSter will be updated by MASS Systems on a bi-annual basis, to ensure that any changes in the requirements of the insurance market are reflected, the firm adds. For details, ring MASS Systems on 01344 304000.
