In an effort to streamline the loss control operations, Fort Lee, New Jersey-based Leading Insurance Group (LIG) has implemented Risk Control Technologies’ RC Inspection solution.
LIG is a U.S.-based subsidiary of LIG Insurance Company, Ltd. based in Seoul, Korea which specializes in insuring main street Korean-American and Chinese-American business. RC Inspection will allow LIG's team of loss control reps in New York, New Jersey and California to perform field surveys for its commercial lines risks.
“We congratulate LIG on its successful implementation of RC Inspection,” said David Da Costa of Risk Control Technologies. “We believe they will see some significant benefits in terms of productivity, consistency and timeliness.”
The RC Inspection solution has been designed to streamline and automate the loss control processes in the insurance industry. According to the company website, the solution provides the insurance industry with a simple and cost-effective alternative to traditional paper-based processes, which are complex and time consuming.
Risk Control Technologies explained how RC Inspection works to simplify the loss control process for the insurers.
The application allows mobile loss control inspectors to electronically receive work requests and collect information in the field on a tablet device, including assessment data, recommendations, digital photos and diagrams.
In the next step, data is uploaded into a central database which allows underwriters to use the information in making underwriting decisions. The central data repository is equipped with data mining and reporting capabilities, speeding up the underwriting tasks. This is an advantage not available in the paper-based loss control environment in which most insurers operate.
Today, Risk Control Technologies’ loss control solution is reportedly used by major insurers throughout North America.
Earlier this year, risk Control Technologies announced that Frank Cowan Company has selected the RC Inspection software solution to streamline its loss control operations.
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Edited by Braden Becker