This is the fifth blog in a series on our Fall ’22 Release. Over the next few months, we will continue to spotlight how Majesco is helping insurers achieve relentless innovation and meet the ever-changing market needs with an outside in approach.
Great underwriting starts with having the right information when and where you need it. As we continue to move into the future of loss control, underwriters have a greater focus on profitability and proactive risk mitigation to minimize or eliminate claims. To do this, they need to see more of a customer’s property to get a holistic view of the account’s health. Increasingly, a single system of record that can track all visits made to a property regardless of the line of coverage is not a nice-to-have, but a necessity.
“Single Pane of Glass” for all Loss Control Activities
Equipment Breakdown is an additional module for Majesco Loss Control introduced as part of the Fall ’22 Release, which allows for the completion of one-to-many equipment inspections within a single property visit. Inspections and equipment are tightly integrated with the Client and Location Manager within Majesco Loss Control, allowing for full analytical and operational functionality within the system.
Including Equipment Breakdown into Majesco Loss Control empowers your loss control team to proactively identify insureds that have jurisdictional inspection service requirements while leveraging our best-in-class loss control system to capture the data, which adheres to the specific data collection standards that jurisdictional bodies demand when receiving reports.
The data gathered allows your organization to have full insight into the risks and insured responsibilities on a policy by being able to view all historical visits for an insured. This allows any loss control representative to have the most comprehensive records available, without having to jump between multiple systems to retrieve the work.
Value Delivered – Accelerate the Workflow and Accuracy of Your Jurisdictional Inspections
- Integration Paths – Equipment Breakdown contains a first-class integration with NBBI for jurisdictional reporting, and additional integration paths are available for reporting to other third parties.
- Account Management – Tight integration with the Client and Location Manager means that equipment inventories and visits can be viewed in the same manner as any other account management activities.
- Data Collection and Reporting – NBBI information is included in the installation, with a robust set of tools which allows for additional data collection and customized reporting for all data collected while onsite.
- Offline Mobile Capable – Starting in Spring ’23, equipment inspections will be able to be done completely offline, including data collection, adding/removing items from the inventory, and adjusting equipment specifications.
Having a single system of record for all equipment and loss control surveys which also includes integration paths to any regulatory or jurisdictional bureau, delivers the flexibility customers have come to expect from Majesco Loss Control. Now you can combine all visit details for a location into a singular visit report from your field staff, ensuring underwriters get the data they need in the most efficient way.
By: Manish Shah, President & Chief Product Officer