Property insurance value collection, without the chase

Each site opens its own form in 21RISK and fills in property damage and business-interruption values, attaching photos and documents where they help. You see progress per site as the answers land, so the follow-up is a glance rather than a spreadsheet of its own.

A statement of values (SOV), also called a schedule of values, is the list of insured locations an insurer prices a property programme on. Each row is one site: its address, its property damage values such as buildings, machinery and equipment and stock, its business interruption value and its total insured value. Underwriters read it with the COPE information for each site. Where a site’s values are too low, the average clause cuts its claims in proportion to the shortfall.

Yes. The Values table is the statement of values for the period: one row per site with its address, every value column, TIV in base currency and the change since last period. Save the columns your broker asks for as a table view, export it to Excel, or let your broker read the same values over the REST API. Lock the period when the submission goes out, and that statement stays as it was sent, next to next year’s.

Yes. You can share current values with brokers and insurers from the platform, or let their systems pull them over our REST API — no login for you to manage and no email chain to keep in sync.

Nothing is overwritten. Every answer and edit is versioned, so when an underwriter asks what changed since the last renewal — and why — the answer is already in the site’s history. For the whole portfolio, the Period comparison tab under Insurance Analytics shows how TIV moved since the previous period, which sites and value categories drove it, and which unchanged sites nobody has reviewed yet.

Each Insurance period converts values to your base currency at its own exchange rates, so a site that changed nothing can still move in base currency. Period comparison keeps the two apart: changes in values are measured at the previous period’s rates, and a separate currency effect shows, per currency, how far the rate moved and how much TIV that moved.

The Inflation tab under Insurance Analytics compares each site’s change in value since the previous period with prices in its own country: buildings with construction prices, other values with consumer prices. The price indices come from public statistics (national statistics offices, Eurostat, the OECD, the IMF and the World Bank). You see the gap per country and per site, in money and in percentage points, and the sites furthest behind come first. The figures are an indication, not a valuation.

Record it on the site that owns it, against the site where it stands. The amount then counts toward the warehouse’s total, because that is the building the insurer prices, and both sites see the arrangement. A third-party warehouse becomes a site of its own first, so it can be priced like any other address. The Off-site values view under Insurance Analytics then shows who holds the most for others and who keeps the most elsewhere, with a table of every arrangement that exports to Excel.

Yes. Next to the property damage and business interruption columns, each Insurance period has a group of other values: sites report them on the same form and they count toward the site’s progress, but they never add to TIV. Each group holds up to 20 columns of your own, and the Values table, exports, bulk import and Power BI all include them.

Not if you choose a 12-month base value for the period. Sites then enter what twelve months of business interruption are worth, and Total BI and TIV count it scaled by the site’s BI period: 24 months counts double, 6 months counts half. The form shows the sum under the amount, and the Values table shows both figures with their change from last period. It is a straight scale, so where your programme expects a forecast for the whole period that includes growth or seasonality, keep the default and have sites enter the full amount.

Not once you lock the period. A locked period refuses every change, to its values, its columns, its inception and currency dates, and bulk imports into it, until an administrator unlocks it. It cannot be deleted either.

The spreadsheet has no owner, no progress and no history: you chase it, you merge it, and you hope it is current. Nilfisk estimates 75% less time on collecting and analysing the data after moving to 21RISK.