RISK:guard - Maintain Policy Rating Integrity
RISK:guard® is a unique tool to help preserve rating integrity in the most cost-effective manner during the second and subsequent years of a multiyear RISK:check Renewal/Precision Reunderwriting program. Most policies will not need to be analyzed, and potentially audited, each year. But there are certain policy-level changes, such as a change of address or the addition/deletion of vehicles and/or drivers, that indicate the policy should at least be examined again for potential premium leakage.
Once RISK:check® Renewal and Precision Reunderwriting™ have helped you establish a baseline of accurate information, RISK:guard streamlines policy review and preserves rating integrity in subsequent years. RISK:guard can help you reduce second- and third-year costs considerably while protecting the rating integrity you have worked so hard to achieve.
How does it work?
RISK:guard employs a series of high-level filters to compare upcoming renewals against any prior RISK:check and Precision Reunderwriting activity. For policies that have been reviewed and/or audited before, only those that trigger a particular RISK:guard business rule will proceed on to a new analytics review and potential audit.