PortfolioReview
Suite3,56-62ChandosStStLeonardsNSW2065Sydney,Australia
Phone:+61289587134 Email:[email protected] Web:www.suminsured.com.au
SumInsuredPtyLtd ABN:55947630521
H E L P I N G S I M P L I F Y T H E C O N T E N T S I N S U R A N C E P R O C E S S
Mostinsurer’shomecontentsbookscontainmanyriskswhichareunderinsured.
Whenpeopleareunderinsured,neitherthepolicyholdernortheinsurerwins!Insurersdon’tcollectthenecessarypremiumtocovertherisktheyareexposedtoo,withonepartoftheirbookeffectivelysubsidinganother.Ofcourse,policyholderslosebecauseatclaimtimetheydon’treceivethefullreplacementvalueoftheirhomecontents,whichleavesthemexposedfinanciallyanddisappointedwiththeirinsurerwhobearsthebruntoftheirdissatisfaction.
IdentifyunderinsuredpolicyholdersASumInsuredCIRCAportfolioreviewprovidesinsurerswithbenchmarkhomecontentssuminsuredvaluesforindividualriskaddresses.Insurersarethenabletocomparethesuminsuredvaluetheyholdforeachoftheirhomecontentspolicyholdersagainstthisbenchmarkvalueallowingtheidentificationofthosepolicyholderswhoaremostatrisk.
Thisvitalinformationcanthenformthebasisofavarietyofmarketingcampaigns,alertingpolicyholdersandprovidingthemwiththeopportunitytocorrecttheirunderinsuranceproblem.
Theservicecovers90%ofresidentialpropertiesthroughoutAustraliaandNewZealand.
SumInsuredCIRCAportfolioreviewscanalsohelptoidentifywhichgroupsofpolicyholdersaremostlikelytoupgradetheirsuminsuredvalues.
Howitworks?CIRCAworksbycombiningindividualhomecontentsitems,pricesandquantitieswithkeyhouseholdvariables,includingpropertyandoccupancytypes,numbersofbedroomsandotherrooms,numbersandtypesofoccupantsandqualitystandards.Inturnthisleadstothegenerationofacomprehensivetailoredhouseholdinventorylistingwhichincludesallofthetypicalitemsyou’dnormallyfindinahome.Theselistingsarethenquantifiedandpricedwithup-to-datereplacementcostswhichthenformthebasisofahomecontentssuminsuredvalue.
NewcustomeracquisitionOutsideaninsurer’sexistingportfolio,CIRCAsuminsuredhomecontentsvaluescanbeusedinthenewcustomeracquisitionspacebyprovidingareliablesuminsuredvalueonwhichtobaseanyoffer.WiththeCIRCAdatabaseagainbeingusedtohelpidentifythosepolicyholderswhorepresentthebestopportunityforeachinsurer.
SumInsuredCIRCAPortfolioReviewOutput• Address• CIRCAValue• Propertytype(i.e.
apartment,duplex,house,semi-detached,terrace/townhouse,villa,other)
• Occupancytype(i.e.ownerortenanted)
• Paint&fitoutinclusion(i.e.forapartments)
• Numberofbedrooms
• Numberofoccupants(i.e.adult&children,females&males)
• Standardofcontents(i.e.average,quality,prestige)
• Quantityofcontents(i.e.minimal,comprehensive,extensive)
• Numberofotherrooms(i.e.bathrooms,kitchens,laundries,dining&loungeroomsetc)
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