WTW Risk Engineering
Remote Underwriting Survey & Risk Control
Reports incorporating a full Document and
Procedure Review
Why?
The advent of COVID 19 has brought
about the need for off – site reporting
as access to client’s premises is in
many respects off limits.
The pace of change in the business
world has resulted in the challenges
that most business’s face being
more diverse in nature, coupled with
much greater complexity. This is
predictably the situation that will
continue.
The Global insurance and reinsurance
markets have undergone dramatic
changes as a result of Global
catastrophes, natural and otherwise.
The insurance markets have seen
many weather-related claims, multiple
run-away bushfires raging for weeks
on end, several large tailings dam
collapses, mining industry fires and
other claims in the billions, many
other property related claims in
warehousing facilities, also in the food
manufacturing sector and particularly
in related business entities involving
non – standard construction. South
Africa is one country amongst the
rest that is faced with dealing with the
insurers/reinsurer’s reactions. These
reactions include redirecting their
business models towards greater
sustainability. This in an environment
where their alternative income stream,
investments, is generally operating in
an environment delivering low returns.
How this stream of past, current and
potentially future losses is dealt with
from an insurer perspective is mainly
by means of:
ƒƒ Operating within stricter
Reinsurance Treaty mandates.
ƒƒ Operating with less capacity
available in the insurance market
generally and a reduced risk
appetite.
ƒƒ Resetting of ratings at a higher
level with a technical minimum
base and not below as was often
the case historically.
ƒƒ Increasing deductibles, lowering
loss limits and assessing potential
accumulation exposures.
ƒƒ Being more selective as to where
they offer capacity – this at an
industry level as well as on a
national/particular country basis.
ƒƒ Rejecting certain categories of business written
previously.
ƒƒ Being highly selective as to what business is offered
capacity, often reduced lines.
ƒƒ Adjusting their underwriting models generally and
thereby the admittance of risks for quoting purposes.
ƒƒ Absolutely key is the multifold increase in the quality,
integrity and depth of risk information required in order
to accept a risk. This information must be prepared
well in advance.
ƒƒ Three months can be considered as a minimum
delivery period in advance of renewal.
WTW must respond to meeting these challenges in order
to acquire insurer capacity at favourable terms for their
clients. The advent of the current Covid 19 pandemic has
exacerbated the insurer situation outlined above with
knock on effects for clients and their intermediaries.
Nevertheless, to ensure that clients are availed of the best
possible terms this in-depth submission of risk-based
information must be provided timeously to insurers
The current environment under Covid restrictions will often
not allow for a visit in – situ. Hence the Remote Survey
Solution that WTW Risk Engineering have developed. Note
that the Remote Underwriting and COPE surveys have
been formulated after factoring in the views of various
insurers, both local and international.
Remote surveys
WTW Risk Engineering can undertake various remote
surveys. These range from insurer direct reporting such as:
ƒƒ Full Property Underwriting surveys.
ƒƒ COPE surveys.
ƒƒ Commercial surveys.
ƒƒ Machinery Breakdown surveys.
ƒƒ Associated Loss Calculations for all the above.
ƒƒ Risk Tracking Reports.
Through to client direct reporting such as:
ƒƒ Risk Control Assessments – multiple disciplines.
ƒƒ Business Impact Assessments.
The quality, granularity and verification of the risk-based
information cannot be over emphasized.
WTW will use the mandatory WTW Globalscape ® Secure
Ad Hoc Transfer Module and the online surveying Willis
Blue protocol together with various video conferencing
platforms such as MS teams, Skype and Zoom.
What has changed?
Nothing… apart from surveying remotely.
1. We still offer the same quality service through our
highly experienced risk engineering team.
2. We still spend the amount of time needed for
consulting with our clients to gather and verify the
requisite information at the correct level of granularity.
3. We still write the same quality reports.
How it works…
Underwriting & Risk Control surveys
This is a crucial interaction at renewal of the insurance
program as well as the period leading up to renewal.
The site will be requested to upload several documents
onto the Globalscape ® Secure Ad Hoc Transfer Module
or Willis Blue system. The Document and Procedure List
is a summary of Underwriting material required to confirm
conditions and process on the site and will be circulated
to the client as the first stage in the production of Remote
Underwriting Survey review.
Once the requested documentation has been uploaded
onto the system, the assigned risk engineer will set up a
number of client engagement sessions to further discuss
and gather the necessary information which will enable the
consultant to draft a detailed report.
The reporting will assist:
The insurance market with:
ƒƒ Factual information, essentially a current state
assessment of our clients’ business operations as
reported in the Remote Underwriting Survey.
ƒƒ Potential Loss Estimates at two levels:
• a higher order loss scenario (MPL) whereby
existing protections are deemed to fail;
• a lower order scenario whereby existing protections
are deemed to function as designed, unless this is
indicated to the contrary by the surveyor.
ƒƒ Business Impact Assessments
ƒƒ Loss limit review
ƒƒ Risk Improvement recommendations
ƒƒ Assurance of continued risk control-based programs
ƒƒ Similarly, continuity of maintenance/testing/inspection
programs
ƒƒ Assurance that start up procedures are planned,
controlled and well managed as business resumes
post lockdown.
Our client with:

Detailed risk control reporting that discussed the areas with room for improvement for the following disciplines:

ƒƒ Behavior Based Safety

ƒƒ Risk control

ƒƒ Fire defence

ƒƒ Security

ƒƒ Emergency planning

ƒƒ Occupational Health and Safety

ƒƒ Motor fleet

ƒƒ Environmental

ƒƒ Risk tracking registers (also essential for feedback to insurers pre - renewal)

About Willis Towers Watson

Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the
world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving more than 140
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1 Harries Rd, Illovo, Johannesburg, 2196
P O Box 55509, Northlands, 2116, South Africa
Tel: +27 11 535 5400
Willis South Africa (Pty) Limited is an authorised Financial Services Provider: FSP267

Registration Number 1997/020469/07

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